DOWNLOAD: PAC Report Discloses Numerous Violations Of The Constitution & Public Finance Act By Finance Minister

PAC Report has unearthed several irregularities by the Minister of Finance and Economic Development. Below is a summary of the PAC findings. 

The following is the summary of the findings by the Committee:

1. Non-compliance with the provisions of section 300 (3) of the Constitution in that the Minister of Finance and Economic Development failed to publish, in the Gazette loans contracted and guarantees issued by Government within sixty days of their conclusion.
2. Non-compliance with Section 300(4) of the Constitution in that the Minister of Finance and Economic Development failed to present to Parliament a report on loans raised and guarantees issued by the State and a comprehensive report on public debt.
3. Partial compliance with section 301(3) of the Constitution in that the Minister of Finance and Economic Development failed to allocate a share of the national revenues resources to local authorities.
4. Non-compliance with section 305(5) of the Constitution in that the Minister of Finance and Economic Development failed to present in the National Assembly, additional or supplementary estimates of expenditure and additional or supplementary bills.
5. Non-compliance with the provisions of Section 23(1) of the PFM Act (Chapter 22:19) in that since 2014, the Accountant General had failed to issue warrants under his hand, authorizing accounting officers to incur expenditure up to the limits and for the purposes and subjects to conditions contained therein.
6. Non-compliance with section 30 of the PFM Act (Chapter 22:19) in that Treasury failed to withhold funds appropriated to Ministries whose functions were assigned to other Ministries and to allocate those remaining funds to that other Ministry or institution.
7. Non-compliance with section 33(3) of the PFM Act (Chapter 22:19) which prescribes that the Accountant General should prepare consolidated quarterly financial statements which should be presented to the National Assembly and the appropriate Portfolio Committee by the Minister.
8. Non-compliance with section 34(3) of the PFM Act (Chapter 22:19) in that the Accountant General failed to prepare consolidated monthly financial statements for the Accounting Officer to cause such statements to be published in the Gazette, within thirty days of the next succeeding month.
9. Non-compliance with section 35(3) of the PFM Act (Chapter 22:19) in that Accountant General failed to prepare for transmission to the Auditor General, the transactions of the Consolidated Revenue Fund and the financial position of the State within three months after the end of each financial year.
10. Non-compliance with section 11(2) of the Public Debt Management Act in that the limits for Government’s borrowing were not fixed by the National Assembly by resolution nor by means of a provision in a Finance Bill.
11. Non-compliance with section 13(1) of the Public Debt Management Act in that the Minister of Finance and Economic Development failed to comply with the requirements and condition for borrowings.
12. Non-compliance with section 20 (2) of the Public Debt Management Act in that the Minister of Finance and Economic Development failed to propose and seek approval from the National Assembly, the aggregate of the amounts to be guaranteed.
13. Non-compliance with section 22 (2) of the Public Debt Management Act in that the Minister of Finance and Economic Development failed to prescribe annual borrowing limits for each local authority.
14. Non-compliance with section 28 of the Public Debt Management Act in that the Minister of Finance and Economic Development failed to establish registries for registration of bonds and stock and to appoint registrars, agents and any other persons necessary for raising, issuing, management and repayment of State loans.
15. Non-compliance with section 29(1) of the Public Debt Management Act in that the Minister of Finance and Economic Development failed to lay before the National Assembly statements relating to guarantees on any of the first seven sittings when the National Assembly first sits after the guarantees were first given under section
    23(2).
16. Non-compliance with section 30 of the Public Debt Management Act in that the Minister of Finance and Economic development failed to list and present to the National Assembly, monthly, quarterly and annual reports on loans and guarantees.
17. Non-compliance with section 36(4) of the Public Debt Management Act in that the Minister of Finance and Economic Development failed to ensure that all relevant loans contracted were subjected to ratification by Parliament in accordance with the Constitution.

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