Provincial Council Strives for Financial Transparency: What’s Next?

The Standing Committee on Public Accounts has raised questions regarding the Rewa Provincial Council’s initiatives to enhance the accuracy of its financial record-keeping and collection rates. During a recent meeting held at Lomanikoro, Roko Tui Rewa Kitione Raibevu outlined several measures aimed at improving financial reporting and accountability within the council.

Mr. Raibevu discussed the implementation of regular reconciliation exercises, which are designed to compare documented collection rates with bank deposits and cash receipts. These efforts are complemented by capacity-building programs, including quarterly workshops and one-on-one training sessions focused on financial statement preparation for provincial treasurers. Additionally, the council conducts exit meetings aimed at monitoring the progress of these initiatives.

A significant aspect of the council’s financial management is its training on the Sage ERP financial system, which integrates daily transactions and generates real-time financial reports to support decision-making. The committee also inquired about the management of share registries and financial accounts, to which Mr. Raibevu stated that updates to these registries occur as changes arise, such as new share issuances, transfers, or buybacks. External auditors ensure the accuracy of the council’s financial accounts through annual audits, addressing any discrepancies promptly.

This initiative aligns with broader discussions surrounding financial accountability and governance in local councils, similar to the ongoing efforts highlighted by the iTaukei Affairs Board. With a backlog of overdue audits and improvements in financial reporting processes, local governance is experiencing a significant transformation toward enhanced transparency and accountability.

Hopeful advancements on both fronts provide a foundation for rebuilding public trust, essential for effective local governance. Continued commitment to these reforms reflects an encouraging outlook for provincial councils, particularly in fostering better management of public resources to benefit their communities.