Public Finance Management Act, 1999 (Act No. 1 of 1999)Chapter 2 : National Treasury and National Revenue FundPart 1: National Treasury6. Functions and powers |
| (1) | The National Treasury must— |
| (a) | promote the national government's fiscal policy framework and the co-ordination of macro-economic policy; |
| (b) | co-ordinate intergovernmental financial and fiscal relations; |
| (c) | manage the budget preparation process; |
| (d) | exercise control over the implementation of the annual national budget, including any adjustments budgets; |
| (e) | facilitate the implementation of the annual Division of Revenue Act; |
| (f) | monitor the implementation of provincial budgets; |
| (g) | promote and enforce transparency and effective management in respect of revenue, expenditure, assets and liabilities of departments, public entities and constitutional institutions; and |
| (h) | perform the other functions assigned to the National Treasury in terms of this Act. |
| (2) | To the extent necessary to perform the functions mentioned in subsection (1), the National Treasury— |
| (b) | must enforce this Act and any prescribed norms and standards, including any prescribed standards of generally recognised accounting practice and uniform classification systems, in national departments; |
| (c) | must monitor and assess the implementation of this Act, including any prescribed norms and standards, in provincial departments, in public entities and in constitutional institutions; |
| (d) | may assist departments and constitutional institutions in building their capacity for efficient, effective and transparent financial management; |
| (e) | may investigate any system of financial management and internal control in any department, public entity or constitutional institution; |
| (f) | must intervene by taking appropriate steps, which may include steps in terms of section 100 of the Constitution or the withholding of funds in terms of section 216(2) of the Constitution, to address a serious or persistent material breach of this Act by a department, public entity or constitutional institution; and |
| (g) | may do anything further that is necessary to fulfil its responsibilities effectively. |
| (3) | Subsections (1)(g) and (2) apply to public entities listed in Schedule 2 only to the extent provided for in this Act. |