Cluster Finance Services - Paro

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What We Do

The Cluster Finance Services, Paro is mandated to:

Provide reliable and timely accounting services to the agencies for judicious expenditure management;
Ensure the right amount of budgetary and non-budgetary funds are made available to the agencies at the right time to implement the planned activities;
Facilitate the budget preparation, finalization, and implementation;
Collect and timely deposit of government revenue;
Arrange & facilitate the audit of the financial affairs and operations of the organizations;
Introduce and impose an internal control system to enable sound and efficient financial management system in the agencies;
Monitor the financial & physical progress of programs, projects, and activities in alignment with the approved plans;
Provide reliable and timely financial information and reports to the agencies and relevant authorities;
Conduct input, output and outcome level risk assessment.

Core Values:

We live by the value "I-CARE" ~ Integrity, Collaboration, Accountability, Respect & Excellence

Press Release - 9th April, 2021

The Ministry of Finance in coordination with the Royal Civil Service Commission has launched the piloting of Cluster Finance Services in Paro. Hon’ble Finance Minister, Lyonpo Namgay Tshering graced the launch event at Paro on 8th April, 2021. This initiative is carried out as a part of overall public financial management (PFM) reforms to strengthen fiscal discipline and to provide efficient finance and accounting services in budgetary bodies. The objective of this initiative is based on the concept of sharing of services. It will bring together all finance personnel working in various regional/autonomous/branch offices under one cluster office in each region/Dzongkhag. However, this initiative does not include the Finance Sections of the Dzongkhag administration. All finance services would be catered from the office of Cluster Finance Services irrespective of the location of the agencies.

The initiative will optimize and rationalize the deployment of finance personnel and eliminate the current practice of their placement in individual agencies. This initiative is expected to enhance prudent fiscal discipline through proper check and control mechanism, and institute adequate internal control system in the agencies. It is also expected to improve the performance and delivery of finance services through enhanced efficiency of finance personnel and standardized service delivery across agencies.

This initiative will be implemented on pilot basis for regional offices under Paro and Bumthang Dzongkhags until June this year and will be rolled out in Thimphu and other Dzongkhags in a phased manner from July 2021. The pilot initiative is being carried out with the financial support of multi-donor fund (MDF) contributed by the European Union (EU) and Austrian Development Agency (ADA), and administered by the World Bank (WB).

RISK MANAGEMENT COMMITTEE

Members:

Sonam Choden (Chairman)
Engin Dorji (Vice-Chairman)
Samten Om (Member)
Sonam Chenzom (Member)

Functions & Responsibilities:

Assess and report the financial management related risks (budgetary, expenditure management, revenue collections, fixed asset management, public procurement, etc.) or any other appropriate subject matters in agencies under Cluster Finance Services, Paro;
Review and analyze the internal control system of the agencies and present the reasonable recommendation for implementation;
Review the audit issues of agencies arising from internal, external, revenue, performance or compliance audits and present the recommendation for improvement;
Conduct input, output and outcome level risk assessment for the agencies.

Meetings & Procedures:

The Committee shall meet as frequently as necessary to fulfill its duties & responsibilities, but not less frequently than quarterly. The committee shall document and maintain records of its proceedings. The minutes of its meeting approved by the committee and the risk assessment reports shall be reported to the Head of Cluster Finance Services within the given deadline for further review and communication with the agencies for recommending changes or implementation.

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