Page 25 - DOF Annual Report 2018

Annual Report 2018 - Department of Finance 25
General Budget
One of the most important responsibilities of the Department of Finance is the preparation of the General Budget annually, as well as following up on its implementation. This, in turn represents a work plan for the most effective use of the Public Financial Resources in order to provide public services in a suitable manner.
This output includes the development of the “General Budget Preparation Instructions” which aims at providing rules and guidelines for the Government Entities to prepare their budget proposals and a five- year plan consistent with Abu Dhabi’s Public Policy and Abu Dhabi Plan to achieve human, social and economic development.
The Department of Finance has developed the basis of preparing the budget, which makes it possible to link the financial performance to the operational performance of Government Entities. This is possible through the inclusion of performance information as part of the budget, which will contribute to the development of Government performance, enhance transparency and accountability, and based on the “Reporting Service Performance Information” standards issued by the International Public Sector Accounting Standards Board. Therefore, the preparation of the budget of Government Entities requires from each and every entity to determine its outcomes, outputs and performance indicators, in line with its objectives and responsibilities; where the financial appropriations granted to them are in return for their outputs and outcomes.
The Department has developed a methodology for the work of the General Budget, in accordance with the following Stages and Steps:
123
Budget Preparation
1. Identifying revenue targets and Government spending caps.
2. Updating outcomes and outputs of Government Entities.
3. Developing and issuing instructions to the entities for the preparation of the General Budget.
4. Receiving and reviewing
the proposed budgets
from the entities to ensure compliance with the adopted instructions.
Budget Approval
5. Discuss sectors proposed budget with the concerned entities.
6. Final review of all the elements of the General Budget.
7. Proposing the General Budget for approval.
Budget Implementation
8. Preparing and issuance of the Implementation instructions for the General Budget.
9. Notifying the concerned entities of the approved General Budget.
10. Following up on the implementation of the General Budget.