Government accounts

Close of Gov’t Accounts extended

The Department of Finance said that after careful consideration and consultation with relevant stakeholders, the Close of Account period is extended from Friday December 16 to COB, 23 December. 

Finance Secretary, Dr Ken Ngangan in a circular notified heads of government departments, statutory body heads, provincial governments and DDAs of the change.

“The Department of Treasury has issued warrants in recent days and enforcing the closing of accounts on 16 December 2022 will cease unnecessary inconvenience.

Government Books To Close On Dec 31

Minister for Finance, Sir John Pundari made this announcement in Parliament today.

Minister Pundari also clarified that all outstanding owing to the provinces in terms of Functional Grants will be paid before the close of accounts.

Meantime, the Minister also pointed out that investigation is continuing into the ransom ware attack on the IFMS system.

This Parliament session will be the last for the year before it rises.

Doubts about closing of govt accounts

Deputy Prime Minister and Treasurer, Charles Abel, recently said the Government remains committed to closing the 2018 accounts in a disciplined manner to ensure they start on a clean state.

In response, Shadow Minister for Treasury & Finance, Ian Ling-Stuckey, said Treasurer Abel needs to ensure that the government actually pays all its bills.

Govt accounts to close on Dec 11

Finance Secretary Dr Ken Ngangan says there will be no exception for extensions; closure will be on Monday, 4:06pm.

Dr Ngangan told this newsroom that for the last few years, the Finance Department had been relaxed, which resulted in lax measures.

However, this year will be different as strict measures are in place to monitor this.

He added that now that all government departments are on Integrated Financial Management System (IFMS), it makes his job much easier as he will just switch the system off and all balances will be reverted to zero.