PROGRESS IN THE EXECUTION OF THE BUDGET OF THE TIC TIMOR I.P. AGENCY REACHES 84.10%
The Director of Administration and Finance of the TIC TIMOR I.P. Maria da Forsa H. Marques, informed that, this year, TIC TIMOR I.P. independently manages its budget. The team from the Administration and Finance Division (DAF) in coordination with other teams managed to dedicate themselves hard to the execution of this service although they were in the pandemic situation of COVID-19, DAF in partnership with the aforementioned teams, would reach the execution with 84.10 %
“Execution was excellent because as a newly constituted Agency, it was the first time that it executed its own budget within the range of the percentage presented above. In fact, they didn't just result in small projects, but we had a large project with the category designated as ICB, there were 4 projects, NCB had 1 project. Altogether, there were 20 projects”. Explained the Director of Administration and Finance.
The Director clarified that the Administration and Finance Division is one of the indispensable parties in both the public and private sectors. In this way, the TIC TIMOR Agency is part of the public sector, therefore, the Administration and Finance in the exercise of its essential attribution, managing the financial management of TIC TIMOR in an effective, efficient and transparent way, in accordance with the budget execution law applicable in Timor-Leste.
Other main services of the Administration and Finance Division namely, preparation of the budget proposal to the Government and the National Parliament after approval annually; then it will continue its execution.
Thus, the DAF's first function is to execute plans that have already been approved and how to guarantee the execution process based on the international execution standards adopted by Timor-Leste.
“Within DAF, there is a team called finance, accounting, procurement, logistics, media, archive and receptionist. In such a way that it would have had a great team composition. DAF has provided support to other Divisions including executive cabinet in carrying out successful operational services. DAF also prepared the quarterly report and needing to submit it to the “Dalan ba Futuru” system in the future report considered important, submitting it to the accounting of (DNCNC) in the Ministry of Finance (MF) as cash flow), bank reconciliation report and quarterly execution report, she said.
However, DAF must know how to develop the service of how to execute the budget well in a clear way and conform to the rule. If not, when DAF continue their attributions with faults, causing great harmful impacts to the superiors who make the decision. # MEDIA TIC #