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National Treasury

National Treasury. Structure. Promote economic development, good governance, social progress and rising living standards through the accountable, economical, equitable and sustainable management of public finances. Advance economic growth and income redistribution

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National Treasury

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  1. National Treasury

  2. Structure

  3. Promote economic development, good governance, social progress and rising living standards through the accountable, economical, equitable and sustainable management of public finances Advance economic growth and income redistribution Prepare a sound and sustainable national Budget and equitable division of resources Strive to equitably and efficiently raise fiscal revenue, while enhancing efficiency and competitiveness of the SA economy Sound management of Government’s financial assets and liabilities Promote transparency and enforce effective financial management Aim and strategic objectives

  4. Key focus areas for 2007/08Programme 2 Budget Coordination • Budget process improvements focussed on effective service delivery and better value for money • Expanding the use of PPPs to improve value for money through appropriate risk transfer • Oversight over the 2010 FIFA World Cup funding, especially containing cost escalations • Improving the quality of performance information published in the budget

  5. Key focus areas for 2007/08Programme 2 (continued) Sectoral Priorities • Investment in the built environment, road and rail transport infrastructure • Information systems in the integrated justice sector reform programme • Asset management in government buildings maintenance and accommodation • Development of a contributory social security system • Education, health and skills development

  6. Key focus areas for 2007/08Programme 2 (continued) Intergovernmental Relations • Foster further equity in the division of nationally raised revenues and intergovernmental transfers • To strengthen financial management, governance, accountability and capacity in local government • Faciliatate implementation of initiatives aimed at building capacity to accelerate infrastructure delivery • Fund the Siyenza Manje initiative to unlock service delivery and infrastructure at local government level • Rollout of Infrastructure Delivery Improvement Programme (IDIP) in the Health Sector

  7. Key focus areas for 2007/08Programme 3 • Active management of debt with a view to reducing debt service cost, subject to acceptable risk levels • Sound forecasting and prudent management of Government’s cash flows • Review and policy formulation relating to the mandate of the Development Finance Institutions (DFI’s)

  8. Key focus areas for 2007/08Programme 4 & 5 • Coordination and implementation of the Integrated Financial Management Systems (IFMS) • Compliance with the standards of Generally Recognised Accounting Practice (GRAP) in preparation of timely and accurately consolidated financial statements • Emphasis on widespread risk management in departmental operations • Alignment of the PPPF Act and BBBEE Act

  9. Key focus areas for 2007/08Programme 6 • Reforming the system of retirement funding • Enhancing accessibility to financial services • Replacing STC with dividends tax, and finalisation of Mining Royalty Bill and Diamond Export Levy Bill • Africa’s economic development and regional integration in SADC • Strengthened economic policy and forecasting, covering microeconomic analysis, G20 policy themes, and continuing research on growth • Further development of research capacity to address key economic focal areas such as growth, employment, banking and taxation

  10. Personnel plan • 31 March 2006 to 31 March 2007: • 209 vacant positions filled • 152 people left the National Treasury • Net effect: total vacancies decreased from 190 to 133 between 31 March 2006 and 31 March 2007 • Reasons for reduction: • Implemented a Project Management approach • Assigned dedicated resources to the project • Regular monitoring and tracking of progress • Improved client relationships

  11. Financial Intelligence Centre

  12. Financial Intelligence CentreKey focus areas for 2007/08 – 2008/09 • Financial Intelligence Centre Amendment Bill to go to Parliament in 2007 for implementation in 2008 • Strengthened mandate for supervisory bodies • Powers to intervene when compliance failures occur • Administrative penalties for non-compliance with the Act • Appeal procedures relating to sanctions imposed • Establishment of a FIC Inspectorate in 2008 • Assist neighbouring countries to implement anti money laundering (AML) and counter financial terrorism (CFT) systems and support international cooperation agreements • SA mutual evaluation in 2008 to identify AML/CFT deficiencies and corrective action • Audits and inspections of selected accountable institutions • Risk-based compliance framework implemented through supervisory bodies

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