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The Treasury Department consists of four main divisions:
- Government Accounting Operations
- Compensation
- Financing
- Administration
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Government Accounting Operations
The Government Accounting Operations Division is responsible to ensure that all Government Departments adhere to the Government Accounting Standards, Finance Policy and Administration Manual, and other procedures related to the accounting function. The Division constantly monitors the adherence and compliance to the various accounting standards and regulations. It also liaises with Government and other Accounting bodies regarding accounting methodolgies. It is entrusted with the day-to-day responsibility for the maintenance of the accounting system and processing of transactions originating from the Government Departments. This is achieved with the support of various IT systems. The Government Accounting Operations Division is composed of the following main sections:
- Accounting Methodology and Compliance
- Accounting Operations
- Financial Statements Compilation and Reporting
- Treasury Cashier's Office
- Systems Management and Administration
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Click here for more detailed information about the Government Accounting Operations Division.
Compensation
The Compensation Division has the responsibility to:
- Ensure that pensions for retired Government (and parastatal) employees (widows and orphans) and other benefits are processed when due
- Ensure that salaries and other benefits for Government employees are processed according to a prescribed schedule
- Administer and maintain a supporting computer-based system
Click here for more detailed information about the Compensation Division.
Financing
The main objective of the Financing Division (Debt Management Office) is to ensure that the financing needs of the public sector are met at the lowest possible cost while bearing an acceptable level of risk in the medium and long term. The other objectives are to ensure that public sector borrowing levels are kept within agreed ceilings and that the domestic debt market continues to be developed. The Debt Management Office consists of three main sections, namely:
- Short Term Financing
- Medium-Long Term Financing
- Central/General Government Debt Statistics and Reporting
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Click here for more detailed information about the Financing Division.
Administration
The Administration Division is responsible for general finance and office administration, personal records and related tasks, registry and minor staff. It consists of two main sections:
- The Administration Section which is entrusted with corporate functions relating to the general administration of the department
- The IT management and Business Development Section
Click here for more detailed information about the Administration Division.
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