public finance
The aim of the sub-programme is to:
- Promote effective and optimal financial resource allocation for provincial government (including public entities), and
- Ensure the province remains financially viable through effective budget management, monitoring, and reporting.
The functions of the Public Finance unit remain largely unchanged from year to year in terms of processes that need to be undertaken, such as the preparation of the annual MTEF budget for KwaZulu-Natal, preparation of the Adjustments Budget, as well as revenue and expenditure monitoring of provincial departments and public entities.
PROVINCIAL BUDGET:
The functions of the Provincial Budget unit are governed by the PFMA and the Treasury Regulations, and are process driven. These include the tabling of the Main and Adjusted Appropriations, within set regulated periods.
PROVINCIAL REVENUE:
Provincial Own Revenue is responsible for optimising revenue generated by the province, to augment transfers from National Treasury. The unit is also responsible for monitoring the revenue budgets of departments and public entities.
SPECIALISED ADVISORU SUPPORT SERVICES:
Specialised Advisory Support Services provides economic and other fundamental analysis in the unit. It provides inputs into the formulations for incorporation into the annual Division of Revenue Bills (DORB) as well as institutionalising a framework for the monitoring of provincial public entities, among others.
