Public Sector Governance and Accountability Series: Budgeting and ...

Country Case Study: South Africa 523
and fiscal framework, coordinate intergovernmental relations, and determine
the banking and cash management framework. It also puts the national and
provincial treasuries in charge of the revenue funds.
The PFMA makes its implementation the responsibility of the National
Treasury. To this end, the National Treasury is required to gazette treasury
regulations, giving practical effect to the framework provisions of the act.
In-year monitoring, management, and reporting
The provisions for in-year monitoring, management, and reporting of the
PFMA, the Division of Revenue Act (DORA), the treasury regulations, and
other best-practice frameworks prepared by the National Treasury are aimed
at achieving balance between providing enough information at appropriate
levels and information overload at the center.
The PFMA specifies a variety of financial budget progress reports—
monthly, quarterly, and at year-end—with different responsibilities for
executive authorities and accounting officers (figure 15.3). These are supplemented
in the intergovernmental system by the reporting requirements
of the DORA. Accounting officers are required to compile monthly
financial reports (including information on conditional grants) for their
executive officers and relevant treasuries, which publish monthly reports
on the status of national budget implementation in accordance with the
PFMA. Accounting officers are also required to prepare quarterly financial
reports. These are consolidated for the national and provincial governments
by the National Treasury and are published.
Monthly Quarterly Annually
Accounting officer
Minister
Minister
Treasury
Operational plan
Relevant treasury
Relevant treasury
Auditor general
Inputs
Published
Published
Legislature
Outputs
Published
Source: Data from the National Treasury of South Africa.
FIGURE 15.3
PFMA Reporting Requirements