THE UNITED REPUBLIC OF TANZANIA

MINISTRY OF NATURAL RESOURCES AND TOURISM

FINANCE AND ACCOUNTS UNIT

DIVISIONS

OTHER UNITS

UNIT OVERVIEW

Led by a Director

The Finance and Accounts Section drive its mandates and functions from the Public Finance Act (PFM), which is the Tanzanian Act with chapter number 348. This Act, along with its various regulations, governs the management of public finances, including the collection and use of government funds, Parliamentary control, and the roles of various financial institutions and Officers like the Accountant – General and the Controller and Auditor–General. The most recent Finance Act in Tanzania is the Finance Act, 2024 (Enactment Number 6 of 2024), which took effect on July 1, 2024 but there are also specific regulations and other professional accounting pronouncements issued by the International Public Sector Accounting Standards Board (IPSASB) and other accompanying implementation guidance which provide further detail on specific subject areas.

FUNCTIONS

Functions of the section is to ensure effective implementation of financial and accounting activities whose main objective is to achieve proper control and management of public finance. The primary functions of the Finance and Accounts section include:

  1. To assist the Ministry to formulate a realistic medium term financial plan and annual budget consistent with the government policies and objectives, service delivery targets, resource base, expected recurrent and development revenue inflows and financing capacity;
  2. To provide prudent, professional, and impartial financial advice to the ministries and independent departments’ Executive Officers of the government for the proper management of its financial affairs;
  3. To manage the approved organizational and financial systems framework of the Government so as to ensure:
    • Exercise proper internal control and efficiency;
    • Sound commitment and expenditure control, cash and bank account management;
    • Effective revenue mobilization and collection; and
    • Sound management of assets and payment of liabilities.
  4. To provide accurate, complete, timely, consistent and transparent periodic financial accounts and financial information for use by members and officers of the government;
  5. To provide annual statutory accounts for submission to the Parliament, taxpayers, creditors, donors and other stakeholders and to facilitate the work of the External Auditor through the provision of such information as is required by the External Auditor for the purpose of undertaking the Annual Audit; and
  6. To bring to the notice of the appropriate authorities the matter which has resulted in or is likely to result in a pecuniary loss to the Government.