The House of Representatives has said that the proposed National Budget of 2014/2015 submitted by President Ellen Johnson Sirleaf on Wednesday, May 21, will not be opened for scrutiny without the submission of Budget Framework document, which, according to them, provides overview for the pending fiscal year.
Plenary took the decision last week when Speaker J. Alex Tyler briefed his colleagues on issues relating to the draft 2014/2015 Budget, noting that the bill was submitted with only a transmitter letter from the President.
The submission of the required documents and contents of proposed budget is a requirement under Section 12 (a) (b) (c) (d) (e) (f) and (g) of the Public Financial Management Law of Liberia (PFML).
Speaker Tyler informed his colleagues that the proposed budget “must contain a detailed annual estimate set alongside the previous budget year outturns, current year original budget as well as the actual outturns base on available data and projected outturns for the current year.”
He maintains that the details and content of the annual budget estimate shall be defined in regulations issued by the Minister of Finance under the PFML.
Meanwhile, the House’s Plenary cautioned the Executive to attach urgency to the submission of the required documentation to avoid further delay as the April 30th deadline for budget submission has expired under the PFM.