Public Financial Management Regulations 2019

This set of flashcards covers key terms and definitions related to the Public Financial Management Regulations of 2019.

Accounting Officers

Individuals provided by the Controller and Accountant-General to manage the receipt, custody, disbursement, and reporting of public funds in covered entities.

Fiscal Strategy Document

A document that outlines the government's fiscal policies and objectives, including estimates of revenue, expenditure, and financing.

Ghana Integrated Financial Management Information System

A computerized system used for managing public finances, including budget preparation, execution, and financial reporting.

Cash Buffer

Minimum cash reserves maintained to meet unexpected increases in cash requirements.

Treasury Single Account

A unified bank account structure that consolidates all government cash resources for better liquidity management.

Public Financial Management

The processes, rules, and regulations governing the mobilization, allocation, and management of government funds.

Internal Audit Unit

A unit within a covered entity responsible for conducting internal audits to ensure compliance and proper management of funds.

Performance Compact

An agreement outlining the financial targets and operational indicators set for a public corporation or state-owned enterprise for the financial year.

Publication of Annual Reports

The requirement for covered entities to publish annual financial statements and performance reports within a specified time frame.

Virement

The transfer of funds from one budget line to another within the approved budget, subject to certain conditions.