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News : Bahamas Information Services Updates Last Updated: May 31, 2018 - 6:00:35 PM


Draft Estimates of Revenue and Expenditure 2018/2019
May 31, 2018 - 5:00:44 PM

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Draft Estimates of Revenue and Expenditure 2018/2019. This is to supplement today's budget communication:

Goals of the Ministry of Finance

•    Develop policies and manage resources to maximize sustainable socio-economic growth and stability

•    Provide efficient and effective service to all stakeholders

•    Collaborate with the private sector to improve the ease of doing business and facilitate private sector involvement in economic development

•    Demonstrate accountability and transparency in the management of fiscal affairs

•    Ensure appropriate financial management of ministries, departments and agencies that fall within the purview of the Ministry of Finance

•    Retain a team of high performing professionals operating in an innovative and
supportive work environment

FOR THE INFORMATION OF ALL THOSE RESPONSIBLE FOR THE EXPENDITURE OF PUBLIC FUNDS

1. NO EXPENDITURE CAN BE INCURRED, EVEN THOUGH IT IS PROVIDED FOR IN THE
ESTIMATES, EXCEPT ON THE AUTHORITY OF THE MINISTER OF FINANCE IN ACCORDANCE WITH SECTION 131 OF THE CONSTITUTION.

2. NO MONEY IS TO BE SPENT EXCEPT FOR THE PURPOSES INTENDED BY THE LEGISLATURE AND SO INDICATED IN THE TITLE OF THE HEAD AND ITEM CONCERNED.

3. IN NO CIRCUMSTANCES SHOULD ANY VOTE OR ALLOCATION BE OVEREXPENDED
WITHOUT PRIOR AUTHORITY.

4. ALL PURCHASE ORDERS, WHETHER FOR MATERIALS OR SERVICES, MUST BE APPROVED BY THE APPROPRIATE AUTHORITY FOR THE HEAD FOR COMMITMENT BEFORE PLACEMENT WITH SUPPLIERS....

See attached FULL Draft Estimates of Revenue and Expenditure 2018-19



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