Cluster Finance Services - Thimphu

What We Do

The Cluster Finance Service for Constitutional Bodies & Autonomous Agencies, Thimphu is mandated to:

Provide reliable and timely accounting services to the agencies for judicious use of available resources;
Ensure adequate budgetary and non-budgetary funds to the agencies at the right time to implement the planned activities;
Facilitate budget preparation, finalization, and implementation;
Collect and deposit government revenue in a timely manner;
Arrange & facilitate the audit of the financial affairs and operations of the organizations;
Introduce and impose 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.

Core Values:

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

Press Release - 9th April, 2021

RISK MANAGEMENT COMMITTEE

Members:

Functions & Responsibilities:

Assess and report any financial management related risks (budgetary, expenditure management, revenue collections, fixed asset management, public procurement, etc.) or any other matters under Cluster Finance Services, Thimphu;
Develop, implement and review the internal control system of the agencies from time to time and present the recommendations for compliance;
Review the audit issues of agencies arising from internal, external, revenue, performance or compliance audits and present the recommendation for improvement.

Meetings & Procedures:

The Committee shall meet at least once in a quarter. However, subject to exigencies of work, the Committee shall meet as and when required.
The committee shall document and maintain records of its proceedings.
The minutes of the 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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