The empowering legislation that provides the mandated authorities under which the Budget Division operates includes:
- The Financial Administration Act, 2003 Act 654 (FAA)
- The Financial Administration Regulations, 2004 Act 654 (FAR)
- The Internal Audit Agency Act, 2003 Act 658 (IAA)
- The Public Procurement Act, 2003 Act 663 (PPA).
The Budget Division falls under the Finance Branch of the Ministry of Finance.
The functions and responsibilities of the Budget Division are to:
- Contribute to the formulation and implementation of the Government of Ghana’s financial and economic policies, through the provision of policy advice to the Minister and Government
- Co-ordinate the formulation and preparation of the national medium-term and annual Budgets and assist the Minister to prepare the Economic and Financial Statement of Government
- Implement the annual Budget, in conjunction with the Controller and Accountant General’s Department
- Contribute to the mobilisation of internal and external resources
- Allocate the Budget financial resources efficiently, effectively and rationally to sectors, MDAs and MMDAs
- Account for all public revenues and expenditures under the Division’s control or purview and undertake efficient and effective monitoring
- Provide guidance to MDAs and MMDAs in the preparation, implementation and monitoring of budgets and revenues
- Lead the development and implementation of designated Budget and financial management reforms
- Maintain and improve the human resource, asset base and institutional management capacity of the Division.