Hargeisa 23 June, 2021 (MoFD) – The Ministry of Finance Development its PFM Coordination Unit has organized a two-day validation workshop on Cash Management Policy, Expenditure Management Guide and Business Process Analysis Report for the Somaliland Financial Management Information System.
The purpose of the Cash Management Policy is to ensure the use of the most economical and effective cash flow techniques in financing government programs and operations. This policy will be applied to all Ministries, Departments and Agencies of the Government of Somaliland which have cash management functions, especially the Accountant General Office, Inland Revenue and Customs departments, the Budget and Planning Department, Debt management Department and the Central Bank.
Similarly, Expenditure Management Guide intends to broadly outline the procedures involved in incurring expenditure and expenditure processing by all ministries departments and agencies of the Government of Somaliland to ensure that governmental funds are allocated towards official business.
The SLFMIS is the tool for the automation of the Public Financial Management (PFM) function and therefore the system through which the PFM business processes are automated.
The PFM strives to achieve the highest possible efficiency, transparency, and accountability in the allocation, management and use of public finances, to meet the National Development Plan priorities and stimulate economic growth.