The House of Representatives has tasked its Committee on Ways and Means to scrutinize an appeal to adopt a Standard Quarterly Budget Performance Hearings Schedule, which should take effect as of Fiscal Year 2024.
The House Press Bureau said the latest decision by plenary was taken on Tuesday, July 16, 2024, following a communication from River Gee County District 3 Representative, Johnson Williams.
Representative Williams said the Public Finance Management Law of 2009 and its attendant regulations provide for the reporting of revenue and expenditure performance.
According to him, part 7 of Section 36, “Accounting and Reporting” of the PFM Law of 2009, and Part C.3 (7), (9), and Part E.17 of the PFM Regulations of 2009 established the duties and responsibilities of reporting, and reporting in a timely manner.
He said in view of the above legal citations to the PFM Law of 2009, plenary’s approval of the proposed budget performance hearing schedule is intended to enforce compliance to reporting timelines consistent with law and to standardize in statutes, budget performance hearings.
Williams urged the plenary to approve the proposed schedule, highlighting its importance in fostering fiscal discipline and transparency within the government.
The adoption of this schedule is expected to streamline budget performance reviews, ensuring timely presentation and scrutiny of financial reports and this move is seen as crucial for improving public financial management and enhancing government accountability.
