Agencies have the authority to spend as they see fit – Min. Jordan
DPI, Guyana, Wednesday, October 31, 2018
Finance Minister Winston Jordan sought to clarify misconceptions the media and public may have about the Constitutional agencies. At a press briefing today, he explained that the budgets of these agencies cannot be cut, except by the National Assembly. The budgets, he added, are prepared in accordance with a budget circular, which amongst other items, outlines the number of resources available.
The copies of the agencies’ budgets, he added, are then sent to the Speaker of National Assembly for him to make any recommendations as he sees fit. Once the appropriation is approved, the money requested are dispatched within 28 days, and handed over in a lump sum, to spend as they see fit. Minister Jordan noted that often times, fiscal space does not permit the granting of funds for the “entire wish list”, and this must be understood.
Proper financial records must be kept, the minister stated, with monthly reports on spending (current and projected) submitted to the Finance Ministry for auditing proposes. The National Assembly began its sitting to examine the budgets proposed for the 38 constitutional agencies, today.
Paul Mc Adam.
Image by Kawise Wishart.