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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. |
