Accounts & Budget Department

The two roles of this Department are fairly clear. First it handles all the accounting needs of the Bank, maintaining the necessary records for the Bank to know its own financial position.

It is the standard role that an accounting department plays in any organization, and includes issuing payments for good and services provided to the Bank.

Second, the Department is responsible for the internal output budgetary process of the Bank consistent with public sector requirements. As in most organizations, the Bank sees a strong need to watch closely its expenditures, to see whether it is operating efficiently and to ensure that its income meets appropriate levels although revenue is not a good indicator of central bank performance because of many uncertainties. The Department assists Departmental managers in determining their budgets each year before they are reviewed by the Governor and the Board of the Bank.

The Department continues its interest by monitoring outcomes as the year progresses to ensure that the budget remains on target.