Gauteng Provincial Treasury

Gauteng Department Budget for 2016-17

Vision

To provide strategic leadership in financial and fiscal matters to ensure sustainable and inclusive social and economic development of the people of Gauteng so that all may enjoy value-for-money services of the highest quality.

Mission

We are an activist Treasury that enables and promotes quality service delivery for the citizens of Gauteng through:

•• Sustainable financing and funding that ensures developmentally focused allocation of resources and innovative revenue generation;

•• Efficient cash management that ensures sustainable liquidity levels in the province;

•• Effective financial management and reporting that ensures responsible stewardship and transparent resource utilization and expenditure; and

•• A well-structured governance framework that ensures accountability, transparency and fiscal discipline in line with statutory obligations.

Core functions and responsibilities

The functions or powers of the Gauteng Provincial Treasury (GPT) are described in both the Public Finance Management Act (PFMA), 1999 and the Municipal Finance Management Act, 2003 (Act No 56 of 2003). These can be summarized as follows:

•• To manage the budget allocation for the Gauteng Provincial Government (GPG);

•• To ensure the instilling of fiscal discipline and corporate governance in the Province;

•• To ensure proper cash management;

•• To ensure the effective and efficient utilization of resources (that is, value for money and compliance with all relevant legislations);

•• To develop, implement and monitor compliance with corporate governance norms and standards relating to provincial and local governments; and

•• To ensure adequate financial accountability.

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