Minister sets deadline for financial reports


DISTRICTS and provinces have until March 31 to submit their reports in order to access funds, Finance Minister James Marape says.
Marape, in response to a question on acquittals, told parliament that every province and district was required to furnish reports.
“Looking back in the last five years, the Government has disbursed a huge amount of money for the first time to the provinces and districts,” he said.
“Every year, unfailingly, over K890 million that equates to over K4 billion is transferred from Waigani to sub-national governments.
“It is incumbent upon all districts and provincial treasury staff to ensure that even if members (MPs) come
and go they remain and process acquittals – must be an everyday function.
“Simple things like monthly bank reconciliation that culminates into a quality report that obviously is assembled into an annual report must be furnished by March 31, the preceding physical year,” he said.