ZET - JamaicaGazette.com
Jamaica Government News and Information
Ministries, Departments and Agencies

Page 5

Page 5 of 22

SECTION 2: TERMS OF REFERENCE

1.0 BACKGROUND

The Government of Jamaica (GOJ) outlined a policy for Public Sector Transformation including the

establishment of the Public Sector Transformation Implementation Unit (TIU) in January 2017 to spearhead

implementation. The vision of a transformed public sector is a modern public service that is fair, values

people, and delivers high quality services consistently.

The transformation programme is being funded by the Inter-American Development Bank (IDB) over six

years and aims to address quality, cost, and efficiency of public services in Jamaica. The programme is

being executed by the Office of the Prime Minister and has two main components: (1) Enhancing Quality

of Public Services; and (2) Enhancing Efficiency in Public Spending.

The programme focuses on five critical areas of service delivery in the first phase. These include: (i) the

introduction of shared corporate services (SCS) in eight operational areas; (ii) wage bill management to

reduce the wage bill to GDP ratio to nine percent; (iii) human resource management (HRM) transformation;

(iv) public sector efficiency and ICT; and (v) rationalisation of public bodies.

The challenges to be addressed are: (i) the underutilization of Information and Communication

Technologies (ICT) across the public sector; (ii) cumbersome processes to access public services; (iii) a

relatively large and expensive workforce; (iv) too many public bodies in existence and lack of adherence

to the accountability framework; and (v) limited capacity to implement public sector reform initiatives.

2.0 ROLE SUMMARY

The Financial Officer, under the direction of the Financial Specialist will be assigned financial

responsibility for supporting the effective, efficient and economical use of the TIU Project funds in the

fulfilment of its objectives and in pursuit of the implementation of the budget and loan, ensuring a high

standard of probity, propriety, regularity, transparency, accountability and value for money. The Financial

Officer Specialist is required to work closely with the Executive Director, Programme Manager, and

Procurement Specialist, and will mainly be responsible for:

 Maintaining appropriate financial and accounting systems and controls;

 Interfacing with facilitating ministries/agencies and international organizations;

 Assisting the Financial Specialist with monitoring Project activities to meet the stipulated Project

objectives, transparency and accountability requirements as they relate to the planned expenditure;

 Providing technical advice and assistance to the Financial Specialist and the Programme Manager as

required;

 Preparing progress, annual, special and other reports as necessary;

 Maintaining an adequate budget/expenditure tracking system.

3.0 SCOPE OF WORK

The scope of the work to be performed by the Financial Specialist will include:

 Maintaining adequate financial, accounting, and internal control systems to ensure the integrity,

...
June 12, 2021


Page 68

Head No. 28000C and Title: Ministry of Justice (Capital)

P R O P O S A L S

FUNCTION 03 - PUBLIC ORDER AND SAFETY

SUB FUNCTION 03 - LAW COURTS

PROGRAMME 154 - FACILITATION OF ACCESS TO JUSTICE

SUB PROGRAMME 21 - JUSTICE SYSTEM REFORM AND MODERNIZATION

21513 Construction and Improvements of Courthouses 296,800.0 30,000.0 266,800.0 Revised requirement

Reduction 25 Use of Goods and Services 2,000.0 32 Fixed Assets (Capital Goods) 28,000.0

30,000.0

21858 Justice Sector Reform Programme 117,700.0 44,382.0 73,318.0 Revised requirement -

Reduction 32 Fixed Assets (Capital Goods) 44,382.0

29457 Citizen Security and Justice Programme III (IDB/DFID/GAC) 167,000.0 56,257.0 223,257.0 Additional requirement

Additional 23 Rental of Property and Machinery (GAC) 8,129.0 25 Use of Goods and Services (GAC) 45,655.0 25 Use of Goods and Services (GOJ) 2,559.0 32 Fixed Assets (Capital Goods) (GAC) 4,472.0

60,815.0

Reduction 23 Rental of Property and Machinery (GOJ) 1,279.0 24 Utilities and Communication Services (GOJ) 1,280.0 24 Utilities and Communication Services (GAC) 1,999.0

4,558.0

Net additional 56,257.0

TOTAL HEAD 28000C 581,500.0 - 56,257.0 74,382.0 563,375.0

THIRD SUPPLEMENTARY ESTIMATES 2020/2021

$000

Activity/ Project

No.

Service & Object of Expenditure

Approved Estimates 2020/2021

Approved New

Estimates Remarks & Object Classification

Provided by Law

(Statutory)

Supplementary Estimates

Savings or Under

Expenditure

28000C-1

...
June 12, 2021


Page 6

Page 6 of 22

compliance and transparency of all transactions undertaken by the PEU.

 Maintaining an adequate budget/expenditure tracking system, ensuring that all Project expenditures are

accurately captured.

 Coordinating with the Procurement Specialist and have regular updates of the spending plan, analyze

and determine/recommend reallocation of funds where necessary to maintain/achieve Project outputs

while ensuring compliance with established GOJ and the IDB’s financial regulations, policies and

procedures.

 Preparing monthly invoice and expense projections;

 Ensuring prompt payments for goods and services in accordance with the respective contract

provisions, GOJ and IDB procedures, through the proper maintenance of the accounts payable register

 Ensuring the timely reconciliation and replenishment of the Project’s bank accounts

 Maintain control over the level of public expenditure, ensuring that expenditures are kept within

budgetary limits. Overall responsibility for cash management including:

o Allocating the Monthly and Quarterly Warrants in accordance with agreed priorities.

o Implementing an effective mechanism for containing expenditures within the Warrant limits

through a system of commitment planning and control.

 Ensuring that all documents and reports are prepared in a timely manner to ensure the smooth flow of

internal audits conducted by the Executing Agency and/or the IDB.

 Maintaining an appropriate documentation filing system to clearly demonstrate the verification process

for all transactions, disbursements, and the contracts in place to ensure transparency.

 Participating in the preparation and maintenance of the Project Operational Manual to ensure proper

accounting, financial management and controls consistent with GOJ/Bank policies and practices are

reflected.

 Ensuring the proper preparation and maintenance of the Fixed Asset Register.

 Ensuring that the General Ledger is updated in a timely manner; creating journal entries and assembling

supporting documentation, as well as tracking the contents of accounts

 Preparing financial reports (annual, semi-annual and monthly) as per the Operating Manual and other

requirements (e.g. in response to official requests for information), These must be submitted within the

timeframe stipulated by Ministry of Finance & the Public Service ensuring completeness, accuracy and

timely submission to enable adequate review and approval.

 Ensuring that all tax obligations are met within the stipulated timeframe.

 Performing any other duties that may be assigned by the Financial Specialist.

4.0 OTHER REQUIREMENTS

 A valid driver’s license and owns a reliable motor vehicle;

 Willingness to work beyond normal working hours and on weekends, whenever the need arises.

5.0 DELIVERABLES

 Filed accounting records.

 Financial reports.

o Budget vs actual.

o Monthly Accounts and Financial Reports.

 Progress reports and briefs.

6.0 SUPERVISION

...
June 12, 2021


Page 16

Medium-Term Debt Management Strategy FY2020/21-FY2023/24 7 | P a g e

Box 1: Liability Management Operations (LMOs) for FY2019/20

Tender-switch

Section 7.3 of the MTDS FY2019/20-FY2022/23 outlined the GOJ’s intention to undertake

“opportunistic” liability management operations during FY2019/20. In this regard, a LMO was

successfully executed in the international capital markets in September 2019. The transaction had

two components. Firstly, investors were invited to tender any or all of the outstanding global

bonds due 2022, 2025 (2 series) and 2028 for cash. The second component involved the issuance

of new bonds through the reopening of the global bond due 2045.

The transaction was structured consistent with the broad strategic debt management objectives of

managing costs and risks in the public debt portfolio, while raising adequate funding to satisfy

the GOJ’s financing needs. Due to the high demand for the 2045 bonds, low buyback premiums

were offered on the trading levels for the targeted bonds. This, in addition to the high price of the

2045 bonds, contributed to annual interest cost savings of US$18.2 million, and a net reduction

in the nominal debt stock of US$34.2 million. The average-time-to-maturity of the value of the

debt stock involved in the transaction was increased by 18.7 years. Despite volatile market

conditions, the transaction was successful in mitigating refinancing risk. This further contributed

to the Government’s objective to reduce bunching of maturities in the debt portfolio which is

prevalent in FY2024/25 and FY2028/29.

Currency Conversion

The GOJ collaborated with the Inter-American Development Bank (IDB) in the execution of two

currency-swap liability management transactions totalling US$50.0 million, in two equal

tranches of US$25.0 million during the fiscal year. The GOJ achieved the following:

• Mitigated foreign currency risk by reducing the foreign currency composition of the debt;

• Mitigated interest rate risk by swapping a multilateral variable-rate loan to a fixed-rate local

currency loan; and

• Realized net savings estimated at J$466.9 million.

...
June 12, 2021


Page 155

Head No. 56000B

and Title: Ministry of Science, Energy and Technology

(Capital - Multilateral/Bilateral Programmes)

P R O P O S A L S

FUNCTION 04 - ECONOMIC AFFAIRS

SUB FUNCTION 04 - FUEL AND ENERGY

PROGRAMME 701 - ENERGY CONSERVATION AND

MANAGEMENT

SUB PROGRAMME 21 - ENERGY MANAGEMENT

9353 Energy Security and Efficiency Enhancement Project 215,228.0 110,318.0 325,546.0 Additional requirement to facilitate the completion of

all ongoing contracts.

Additional

21 Compensation of Employees (GOJ) 2,455.0

22 Travel Expenses and Subsistence (GOJ) 199.0

24 Utilities and Communication Services (GOJ) 50.0

25 Use of Goods and Services 166,794.0

169,498.0

Reduction

42 Loans 59,180.0

Net additional 110,318.0

9533 Energy Management and Efficiency Programme 20,000.0 20,000.0 Provision included to meet start-up expenses for the project.

Additional

25 Use of Goods and Services (IDB, JICA) 9,027.0

32 Fixed Assets (Capital Goods) (IDB, JICA) 10,973.0

20,000.0

FIRST SUPPLEMENTARY ESTIMATES 2017/2018

$000

Activity/

Project

No.

Service & Object of

Expenditure

Approved

Estimates

2017/18

Approved

New

Estimates

Remarks & Object Classification Provided

by Law

(Statutory)

Supplementary

Estimates

Savings or

Under

Expenditure

56000B - 155

...
June 12, 2021


SEARCH