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Government of Ghana Public Expenditure and Financial GOVERNMENT OF GHANA PUBLIC EXPENDITURE AND FINANCIAL ACCOUNTABILITY (PEFA) PERFORMANCE ASSESSMENT REPORT Based on the PEFA 2016 FRAMEWORK September 25, 2018 Final Report Funded by GOVERNMENT OF GHANA Public Expenditure and Financial Accountability (PEFA) Assessment Report -September 2018 The quality assurance process followed in the production of this report satisfies all the requirements of the PEFA Secretariat and hence receives the ‘PEFA CHECK’. PEFA Secretariat September 25, 2018 Currency: Ghanaian cedi (GH₵) Exchange rate, GH₵4.9 = US$1 (September 2018) Fiscal Year = January - December Table of Contents ABBREVIATIONS AND ACRONYMS .............................................................................................................. 1 EXECUTIVE SUMMARY ................................................................................................................................. 5 1. INTRODUCTION .................................................................................................................................. 17 2. COUNTRY BACKGROUND INFORMATION ......................................................................................... 21 3. ASSESSMENT OF PFM PERFORMANCE ............................................................................................. 35 PILLAR ONE: Budget reliability .............................................................................................................. 35 PI-1. Aggregate expenditure outturn ................................................................................................ 35 PI-2. Expenditure composition outturn ............................................................................................ 36 PI-3. Revenue outturn ....................................................................................................................... 39 PILLAR TWO: Transparency of public finances ..................................................................................... 41 PI-4. Budget classification ................................................................................................................. 41 PI-5. Budget documentation ............................................................................................................. 44 PI-6. Central government operations outside of financial reports .................................................. 46 PI-7. Transfers to subnational governments .................................................................................... 58 PI-8. Performance information for service delivery ......................................................................... 66 PI-9. Public access to fiscal information ........................................................................................... 71 PILLAR THREE: Management of assets and liabilities ........................................................................... 74 PI-10. Fiscal risk reporting ................................................................................................................. 74 PI-11. Public investment management ............................................................................................. 79 PI-11. Public investment management ............................................................................................. 79 PI-12. Public asset management ....................................................................................................... 82 PI-13. Debt management .................................................................................................................. 87 PILLAR FOUR: Policy-based fiscal strategy and budgeting ................................................................... 94 PI-14. Macroeconomic and fiscal forecasting ................................................................................... 94 PI-15. Fiscal strategy .......................................................................................................................... 98 PI-16. Medium-term perspective in expenditure budgeting ......................................................... 101 PI-17. Budget preparation process ................................................................................................. 104 PI-18. Legislative scrutiny of budgets ............................................................................................. 107 PILLAR FIVE: Predictability and control in budget execution ............................................................. 112 PI-19. Revenue administration ........................................................................................................ 112 PI-20. Accounting for revenues ....................................................................................................... 116 PI-21. Predictability of in-year resource allocation ........................................................................ 118 PI-22 Expenditure arrears ................................................................................................................ 122 PI-23. Payroll controls ..................................................................................................................... 125 PI-24. Procurement .......................................................................................................................... 129 PI-25. Internal controls on non-salary expenditures ...................................................................... 135 PI-26. Internal audit ......................................................................................................................... 137 PILLAR SIX: Accounting and reporting ................................................................................................. 144 PI-27 Financial Data Integrity .......................................................................................................... 144 PI-28. In-year budget reports .......................................................................................................... 147 PI-29. Annual financial reports ........................................................................................................ 150 PILLAR SEVEN: External scrutiny and audit ......................................................................................... 155 PI-30. External audit ........................................................................................................................ 155 PI-31. Legislative scrutiny of audit reports ..................................................................................... 161 4. CONCLUSIONS OF THE ANALYSIS OF PFM SYSTEMS ...................................................................... 166 5. GOVERNMENT PFM REFORM PROCESS .......................................................................................... 181 ANNEX 1: PERFORMANCE INDICATOR SUMMARY ................................................................................. 186 ANNEX 2: SUMMARY OF OBSERVATIONS ON THE INTERNAL CONTROL FRAMEWORK ........................ 203 ANNEX 3: SOURCES OF INFORMATION BY INDICATOR .......................................................................... 206 ANNEX 5: TRACKING CHANGE IN PERFORMANCE BASED ON THE 2011 VERSION OF PEFA .................. 222 ANNEX 6: PIs 1-2 EXPENDITURE DATA (2016 Framework) ..................................................................... 234 ANNEX 7: ANALYSIS FOR PI-2.2 COMPOSITION VARIANCE BY ECONOMIC CLASSIFICATION ................ 238 ANNEX 8: LIST OF PEOPLE MET ................................................................................................................ 239 ANNEX 9: Related recent PFM analysis ................................................................................................... 245 ANNEX 10: PIs 1-2 EXPENDITURE DATA (2011 Framework) ................................................................... 246 ABBREVIATIONS AND ACRONYMS Annual Budget Funding Amount ABFA ACB Appeals and Complaints Board ADMR Annual Debt Management Report AFROSAI-E African Organization of English-Speaking Supreme Audit Institutions AFS Annual Financial Statement AG Auditor- General AGA Autonomous Government Agencies AMIS Audit Management Information System ARIC Audit Report Implementation Committee BCG Budgetary Central Government BoG Bank of Ghana CAAT Computer Assisted Auditing Technique CAG Controller and Accountant- General CAGD Controller and Accountant- General Department CCS Commitment Control System CD Custom’s Division CF Consolidated Fund CG Central Government CISA Certified Information Systems Auditor CoA Chart of Accounts COFOG Classification of the Functions of Government CS-DRMS Commonwealth Secretariat Debt Recording and Management System CSO Civil Society Organization DA District Assembly DACF District Assemblies Common Fund DACU Data Analysis and Capturing Unit ( DDF District Development Facility DMCE Debt Management, Compliance and Enforcement Unit DMD Debt Management Department Division DP Development Partners DSA Debt Sustainability Analyses DTRD Domestic Tax Revenue Division ECF Extended Credit Facility ECG Electricity Company of Ghana EOCO Economic and Organized Crime Office ERFD Economic Research and Forecasting Division E-SPV Electronic Salary Payment Voucher EU European Union FAA Financial Administration Act FAR Financial Administration Regulations 1 FOAT Functional and Organizational Assessment Tool FSD Fiscal Strategy Document FX Foreign Exchange FY Fiscal Year GAS Ghana Audit Service GCB Ghana Commercial
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