Ngangan underlines importance Of annual acquittals #East_SepikJuly 11, 2019
July 9, 2019
FINANCE Secretary Dr Ken Ngangan says it is important to receive annual financial statements from provinces on time.
Dr Ngangan said the importance of the annual statements was the expenditure of the year and the previous year.
He said this on receiving the annual financial statement from East Sepik Governor Allan Bird
“The expenditure is actually captured in the annual financial statement, which is actually made available to the auditor-general and other agencies to go through to ensure that funds for the province for development purposes have been processed correctly following due process in the Public Finance Management Act.
“We thank the East Sepik provincial government for being the first to submit their annual acquittals.
The documents submitted are subject to public scrutiny which is the way the public finance management works,” Dr Ngangan said.
He said his department was able to partner with the ESP administration to rollout the integrated financial management system (IFMS).
“We were able to work with the provincial administrator rolling the IFMS program and of all the provinces that we’ve been so far, East Sepik has been one of the provinces that have actually championed the rollout in a short space of time.”
Dr Ngangan said the Finance Department would want to use East Sepik as a model province in rolling out the financial mangament system to other provinces.
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