The Ledzekuku-Krowor Municipal Assembly (LeKMA), has noted that the Social Public Expenditure and Financial Accountability (SPEFA) forums are gaining recognition from civil society as an empowering tool to deepen their understanding of the local government system.
This came to light at the First Quarter SPEFA Meeting for LekMA organised by the Intervention Forum (IF), a non-governmental organisation, on Tuesday in Nungua in the Greater Accra Region.
The forum was addressed by resource persons from LeKMA on Financial Reporting and Auditing, which was attended by civil society organisations such as women’s groups, farmers and fishermen, religious and traditional authorities, and persons with disability.
Mr Samuel Siaw, Accountant for LeKMA, took the participants through Financial Reporting and its components such as objectives, principles and qualities.
He touched on trial balance, statement of revenue and expenditure, Metropolitan, Municipal and District Assemblies/Ministries, Departments and Agencies reporting requirements such as management reports, and the relevant laws and regulations.
He also schooled the participants on the Financial Administration Act 2003 (Act 654), key players of public financial management, and the Public Procurement Act, 2003, Internal Audit Agency Act 2003, and the Audit Service Act, 2000, and the work of the Audit Report Implementation Committee (ARIC), its roles and responsibilities.
Mr Siaw said in view of the government’s decentralisation process, it had become necessary for both central government and citizens to hold local governments accountable to ensure effective local governance and service delivery.
Madam Nora Ollennu, Chief Executive Officer (CEO) of IF and Local Capacity Builder for the LeKMA SPEFA group, expressed delight that it had over the past year benefitted from capacity strengthening on many salient social accountability concepts and aspects of the Public Financial Management process.
She thanked the members for their efforts, invaluable contributions and active involvement in making the year fruitful and worthwhile.
Madam Ollennu called on all SPEFA members to give greater levels of commitment and enthusiasm towards SPEFA activities this year.
Turning to the subject of ‘Financial Reporting and Auditing’, the CEO observed that the subject was necessary in a period when “prudent financial management within the public sector is progressively gaining traction; and at a time when the civic demand for the judicious utilisation of resources is on the rise”.
The Chairman for the occasion, Nii Afotey Botwe II, member of the Nungua Traditional Council, threw light on the acquisition of land and property rates.
He advised the participants to discuss and share information with their colleagues and family members to deepen their understanding of the workings of the assembly.