The National Budget for Fiji is prepared for each financial year, which begins on 1 August of every calendar year and ends on 31 July of the next calendar year. The Budget includes the budget strategy, actual government revenue collected and expenditure incurred in the previous financial year, projections for the current financial year, as well as the planned government revenue and expenditure for the next financial year.
Prior to the preparation and finalisation of the Budget, the Ministry of Economy commences its budget consultation process with the members of the public, school students, private sectors and the Ministries/Departments a few months prior to the Budget Address to gather contributions for the next financial year’s Budget. All views and proposals submitted during the consultation period are taken into account in the preparation of the National Budget. Thereafter, the Government finalises and approves the Budget in Parliament after the Budget Debate.
- The Budget is announced in Parliament by the Minister for Economy
- Budget tabled and debated in Parliament for one week
- Budget is passed and approved by Parliament and another set of Budget Estimates are printed (as approved by Parliament)
- Commencement of internal financial performance review and plan for the new budget by the Ministry
- Review of Strategic Plan by the Ministry
- Preparation of Costed Operational Plan and Workforce Plan by the Ministry
- Issuance of Budget Strategy and timelines by Ministry of Economy
ONGOING/NEW EXPENDITURE PHASE
- Budget Submissions are prepared by Ministries.
- Capital Projects are aligned to the Public Sector Investment Programme
- Overseas Development Assistance funded projects
- Ongoing consultations with the members of the public, private sectors and school students
- Central Agency hold consultation meetings
- Budget consultations at official and ministerial levels
- Draft budget is prepared for Cabinet’s approval
START OF NEW FINANCIAL YEAR
- The Ministry prepares Annual Work Programme for the budgeted projects
- Facilitate the Implementation of projects/programmes
- Quarterly Physical and Progress Report are submitted by the Ministries/Departments
- Ongoing Monitoring and Site Visits are conducted by Ministry of Economy staff
UPDATE PHASE – BASELINE PHASE
- Determines minimum (base) level of budget
- Based on past year’s expenditure performance
- One-off expenditures are taken off
- Assessment of ongoing projects status.
- Operating and capital expenditures baselines are prepared
- Insurance of baseline to Ministries / Departments
Budget Focus Group needs to consider and review baseline
EXPENDITURE EVALUATION CRITERIA
- Align to the NDP
- Performance Based Budgeting
- Preparatory Works undertaken
- Continuing Project – results achieved
- Realistic Cost Estimates
- Budget documents (including supplement to the Budget Address, Budget Estimates, supplement to the Budget Estimates.
- Budget Kit) are printed and presented in Parliament