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PFMA and Parliament’s Oversight

This presentation outlines the legal framework, roles, and responsibilities of Parliament in overseeing financial management through the Public Finance Management Act (PFMA) and Money Bills Amendment Procedures. It highlights the aim of the PFMA, focusing on efficiency, accountability, and clarity of financial processes. It also explains the duties of Parliamentary Committees in assessing departmental performance and budgetary reviews.

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PFMA and Parliament’s Oversight

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  1. PFMA and Parliament’s Oversight Presentation to Arts and Culture Portfolio Committee 16 March 2010

  2. Presentation Outline • Legal Framework • PFMA and Parliament’s oversight role • Portfolio Committees and the Money Bills Amendment Procedures and Related Matters Act (2009)

  3. Legal Framework • The Constitution of the Republic of S.A., 1996 - Chapter 13 • Public Service Act, 1994 and Regulations • Public Finance Management Act, 1999 and Treasury Regulations 2005 • Money Bills Amendment Procedures and Related Matters Act (2009)

  4. PFMA (Act No 1 of 99, Amended by Act 29 of 99) • Focus on outputs & responsibilities • Flexibility with accountability • Clarity of role of accounting officer “Let the managers manage, But hold them accountable”

  5. Aims of the PFMA • To regulate financial management… • To ensure all revenue, expenditure, assets, and liabilities … are managed efficiently and effectively; • To provide for the responsibilities of persons entrusted with financial management; • Applicable to all public entities , except the Reserve Bank, Auditor General, higher education institutions and local authorities (own acts)

  6. Parliament’s PFMA Roles

  7. Money Bills Amendment Procedures and Related Matters Act (2009) • Parliamentary Committees to annually assess the performance of departments using: • ENE of dept, with strategic priorities and measurable objectives • Strategic Plan • Expenditure reports (Section 32 of the PFMA) and quarterly reports to SCoA • Financial Statements and Annual reports • SCoPA reports • Any other relevant info • PCs to annually submit budgetary review and recommendation report on dept’s service delivery performance

  8. Thank You

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