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MFDP Says Delay In Budget Passage Key Challenge
By Joseph Toe
MONROVIA, April 10 (LINA) - The Ministry of Finance and Development Planning (MFDP) has said delay in the passage of the national budget has been one of the key challenges in the implementation of budget programs and projects.
The ministry‘s disclosure was contained in its 2016 annual report released recently.
The report indicated that previous budgets were approved three to four months into the following budget year “causing serious delays” in implementing planned programs.
The report stated that although this has been a lingering problem in the past, it improved for the 2015/2016 budget, which was passed in July 2015.
“Delayed decision on audit recommendations is another factor,” said the report, which also stated that “some actions are now being taken on this, but the public awaits the end result of these actions.”
According to the report, another key challenge is “untimely reporting” on State-Owned Enterprises (SOEs), which it attributed to several institutional challenges within SOEs, including low technical capacity within their finance departments.
The report stated that delay in auditing the consolidated accounts is yet another factor that has lingered on, with the Auditor-General citing financial documentation from the MFDP as reason for the delay.
“This is further compounded by the delay in the deployment of the Electronic Document Management System (EDMS) and the archiving software in the ministry first and then to other ministries and agencies,” the report added.
The report also named the age of past audit reports as another key challenge in holding public hearings in that some audit reports are very old, and that many of the public officials who presided over those entities may be inaccessible.