(a)

• Macroeconomic policy formulation. The Ministry of Treasury formulates, implements, monitors, and evaluates macroeconomic, fiscal, and financial policies for sustainable development. It conducts economic analysis, forecasts, and modelling to assess economic trends and risks. Based on this analysis, the ministry develops policies related to fiscal policy, monetary policy coordination, exchange rate management, and inflation targeting.
• Budget preparation and execution. The Ministry of Treasury is responsible for coordinating the preparation of the national budget. It works closely with other government ministries, departments, and agencies (MDAs) to formulate budgetary allocations based on national priorities and revenue projections. The ministry also monitors budget execution to ensure adherence to fiscal targets and allocates funds according to approved budgetary provisions.
• Revenue mobilization. It ensures effective mobilization of domestic and external resources. It oversees the collection of taxes, duties, and other forms of revenue, ensuring compliance with tax laws and regulations. The ministry may also introduce tax policies and reforms to enhance revenue generation and broaden the tax base.
• Public debt management. It is the function of the Ministry to ensure sustainability of public debt. It is responsible for managing the country’s public debt by formulating debt management strategies, negotiating borrowing terms with domestic and external creditors, and monitoring debt levels to ensure sustainability. The Debt Management Office (DMO) of the Ministry is directly in charge of this responsibility.
• Financial sector regulation and oversight. The Ministry of Treasury provides regulatory oversight of the financial sector to ensure stability and integrity. It works closely with regulatory agencies such as the Bank of Zamora and the Securities and Exchange Commission to supervise banks, non-bank financial institutions, and capital markets. The ministry may also introduce financial sector reforms to enhance regulatory frameworks and promote financial inclusion.                                                                                                                                                                                                                                                                          (b)
• Compiling and managing the accounts prepared in relation to the Consolidated Fund and other Funds.
• Issuing general instructions to a Principal Spending Officer in accordance with the Act and the Regulations.
• Keeping, rendering, and publishing statements on public accounts under the Act.
• Developing efficient accounting systems for a covered entity.
• Approving accounting instructions for a covered entity.                                                                                                                                                                                                                                                                                                                                                              (c)
• Auditing and reporting to parliament on the public accounts of Zamora and of all public offices, including the courts, the central and local government administrations, of the Universities and public institutions of like nature, of any public corporation or other body or organization established by an Act of Parliament.
• The Auditor-General or any person authorized or appointed for the purpose of the audit by the Auditor-General shall have access to all books, records, returns, and other documents relating or relevant to those accounts.
• Approving the form in which public accounts should be kept.
• Disallowing any item of expenditure which is contrary to law and surcharge: (i) the amount of any expenditure disallowed upon the person responsible for incurring or authorizing the expenditure; or (ii) any sum which has not been duly brought into account, upon the person by whom the sum ought to have been brought into account; or (iii) the amount of any loss or deficiency, upon any person by whose negligence or misconduct the loss or deficiency has been incurred.
• Administering the declaration of assets and liabilities by public office holders such as the President, the Chief Justice, Ministers, and Members of Parliament amongst others.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                (d)
• Formulating and implementing monetary policy: Act 612 empowers the Bank of Zamora to formulate and implement monetary policy to achieve the objectives of price stability and support sustainable economic growth.
• Currency issuance and management: The Act grants the Bank of Zamora the sole authority to issue currency in Zamora. It is responsible for the design, production, distribution, and withdrawal of banknotes and coins.
• Banker to the Government: Act 612 designates the Bank of Zamora as the banker and financial advisor to the government. It manages the government’s accounts, facilitates domestic and international payments, and assists in debt management and financing operations.
• Banking supervision and regulation: The Bank of Zamora is mandated to regulate and supervise banks and other financial institutions operating in Zamora to ensure their safety, soundness, and stability. It sets prudential standards, conducts inspections, and enforces regulations to promote a safe and efficient financial system.
• Payment systems oversight: Act 612 tasks the Bank of Zamora with overseeing the operation of payment systems in Zamora to ensure their safety, efficiency, and reliability. It establishes rules and standards for payment systems, monitors compliance, and promotes the development of innovative payment solutions.