Budget Affairs

Mission Statement
 
The Budget Affairs Division ensures that the budgetary process incorporating Ministries, Departments and Public Entities, is managed in a timely manner. Advice and support are provided for the identification, apportionment and utilisation of the financial resources of government, to enable government to sustain commitments and achieve its objectives, within the parameters of a consolidated financial plan.
 
Main Areas of Responsibility
 
The publication of the Financial Estimates, in terms of the Constitution of Malta and the Financial Administration and Audit Act, as part of the annual budget process.
 
Core Functions  
 
The core functions of the Budget Affairs Division are carried out through the Recurrent Expenditure Unit, the Capital Expenditure Unit and the Revenue Unit . 
  • providing advice on draft Financial Estimates of government, in reflection of set priorities;
  • compiling draft annual and medium term expenditure and revenue projections for ministries, departments and public entities;
  • keeping in perspective the aggregate budgetary targets of Government, throughout the public finance management cycle;
  • recommending upon timely corrective measures, where issues of budget containment or revenue shortfalls are envisaged, as the financial year unfolds;
  • co-ordinating all legislation pertaining to implementation of the initiatives emanating from the annual Budget Speech for eventual debate and legislation in the House of Representatives;
  • monitoring of recurrent expenditure, capital expenditure, and revenue collection of ministries, departments and government entities, with a view towards providing updates within the context of aggregate budgetary targets;
  • developing and implementing financial policies and procedures with which to guide and monitor revenue and expenditure, ensuring value for money performance
  • identifying potential room for efficiencies, through strategic, financial and operational evaluations and other techniques;
  • monitoring the revised estimates of ministries and departments, as well as the financial and management accounts of entities with particular attention to revenue, spending and expenditure plans;
  • issuing directives to ministries and departments, as well as any board, foundation, corporation, institute, agency, commission, company or any other entity 51% or more of which is held in ownership by the Government;
  • preparation of financial and business statements, status reviews, and other financial management reports;
  • where applicable, dealing with non-delegated matters which, through legislation, are vested in the Minister responsible for finance.

Links:

Ministry of Finance Directive to the Government Entities which are in receipt of Government subvention through the Financial Estimates

Ministry of Finance Directive to the Public Sector 4/2005 – Purchase / Lease of Premises

 CONTACT INFORMATION:
 
 Contact Name 
Ministry for Finance
30, Maison Demandols,
South Street,
Valletta VLT 2000
 
 Telephone
2599 8259
 
 Fax
2599 8429

 Email

Website