Treasury Single Account will consolidate government revenue, say CSOs

0
413

December 3, 2018

By Ibrahim Tarawallie

treasury
L-R: Madam Juliet Anderson and Deputy Auditor General Tamba Momoh

National Coordinator of the Civil Society Movement Sierra Leone has stated that the Treasury Single Account (TSA), which is currently being implemented, would help consolidate government revenue and also improve appropriation control and projects executions.

The Public Financial Management Act of 2016 makes provision for the operationalisation of a Treasury Single Account by the government, aimed at closing leakages and ensuring fiscal discipline.

Upon assuming office in April this year, President Julius Maada Bio issued an executive order for the full operation of the TSA to promote accountability in the use of public resources.

“The TSA will reduce bank cost and also reduce leakages and the gaps that use to exist on the use of public funds before the coming of the new initiative,” says Juliet Anderson.

Madam Anderson was Thursday speaking at the Civil Service Training College in Freetown during an engagement to help popularise the Public Financial Management Act of 2016 that gave prominence to the TSA.

According to her, over the years, legal entities engaged in fiscal and monitoring policies have been seriously constrained in terms of honouring requests from ministries, departments and agencies because government revenues were scattered in various bank accounts.

Since they have been actively involved in public financial management issues for quite a while now, Ms. Anderson stated that in 2017, when a call for proposal on public financial management issues were made by the World Bank, they applied and were fortunate to be among three organisations in the Western Area to have received the grant.

She explained that their focus for the next three months of project implementation would be to popularise the Public Finance Management Act with the aim of increasing domestic revenue mobilisation.

“We are also going to look at the relevance of the act and the need for MDAs’ acceptance and support to the operations of the Treasury Single Account,” she noted.

She added that their aim as a movement was also to promote accountability measures in the use of public funds with the hope of seeing increased revenue generation by the government and compliance by MDAs on payment of funds to the TSA.