What does the Ministry of Finance Do?
The Ministry Of Finance formerly Treasury is headed by a Chief Executive Office CEO (Financial Secretary) who is the primary economic and financial adviser to cabinet and government. More specifically, the Ministry Of Finance does the following activities:
- Prepare and oversee implementation of plans for the economic development of Samoa – SDS & Sector Plans and financial and economic advice
- Coordination of activities of all Ministries and public bodies, districts, villages and persons so far as they are engaged in implementing individual development projects and other aspects of economic plan (in support of SDS)
- Provide periodic and annual budget and economic statements for government – Main Estimate, Supplementary Estimates, Budget reviews, quarterly economic reviews,
- Periodic project appraisal and other aspects of economic plans
- Operate accounting systems for Government. (e.g. use of Finance & People One as tool to operating the accounting system)
- Setting accounting policies, practices and procedures for all financial management practices – Issue of Treasury instructions, review and set accounting policies and procedures.
- Supervision of the finances, assets and liabilities of the State and to ensure that a full accounting is made to the Legislative of all transactions involving public moneys or the disposition of public property. –Quarterly and Public Accounts Report for Parliament
- Coordinate supervise the purchase, receipt, custody, distribution, use, disposal, and inter-departmental transfer of public property – Procurement & Asset Management
- Coordinate and monitor systems of financial management, internal control and reporting in all Government departments –Internal audit & Investigation
- Publication of information as to the economic plans and projects approved by the Legislative Assembly – Publication of economic and financial information.
A professional organisation that supports a sustainable and vibrant economy.
A client focused organization responsible for fiscal management and provision of financial and economic advice to underpin a sound and stable economy.
- Resilient macroeconomic framework.
- Responsible and prudent fiscal management.
- Effective management and efficient utilization of Government assets and resources.
- Robust business support systems, people and organisational capabilities.
- Customer-oriented focus.
As a well organized institution, the Ministry has come up with a set of guiding principles that will set the behavior standards of its staff for internal conduct as well as its relationship with its external stakeholders.
These are the principles that everyone will follow in the course of performing individual and collective duties and responsibilities.
These are as follows:
- Leadership by example;
- Accountability and transparency;
- Commitment to integrity, objectivity, honesty, fairness and independence;
- Commitment to quality, punctuality and time management;
- Integrity of transactions and records;
- Respect and courtesy in treatment of clients and work colleagues;
- Professional approach to the delivery of efficient and effective services;
- Prudent use of Government assets and resources.