Treasury Division

Overview

Treasury is established to manage the whole of government Treasury functions for the Government of Nauru.  This includes fiscal strategy, budget development and execution, and financial control and payment functions.

Treasury aligns to the NSDS priority for a stable, trustworthy, fiscally responsible government, and two NSDS goals:

  • Econ Goal 1: A stable macroeconomic environment conducive to private investment established
  • Cross-Goal 1: Strengthen and develop the institutional capacity of the Nauru public service.

Treasury’s vision

To ensure the GON’s public funds are managed in accordance with the law, in a transparent way that supports accountability, equal treatment, risk mitigation and risk management for the benefit of all Nauruans.

Treasury’s mission

To safeguard GON financial assets, support the achievement of value for money outcomes and improve Treasury systems and processes towards international standards and better practice.

Treasury’s values

Respect, Communication, Honesty and integrity, Customer service, Professionalism and timeliness.

Treasury seeks to achieve two outcomes as follows:

  1. BAU: Effective and efficient management of public funds, consistent with GON law 
  2. Transformation: Implementation of public financial management reform towards better international practice.

These translate into four objectives:

  • Quality financial information and control environment
  • Timely and effective budget preparation and execution
  • Efficiency and effectiveness of expenditure (value for money)
  • Capability building, training and professionalisation of Treasury Division and budget officers service-wide.

Public financial management is at the heart of a strong and enabling public sector environment. It seeks to achieve:

  • Fiscal discipline in ensuring that the Government is able to sustain its needs (expenditures) from its means (revenues) in the long run;
  • Better allocation of resources towards priority needs;
  • Proper utilisation of resources for its intended purposes in the right manner; and
  • Stronger accountability and transparency from those dealing with public resources.

The PFM Reform agenda seeks to continuously improve Treasury strategy, policy, processes and procedures towards better international practice, with focus on four key areas:

  • Quality financial information and control environment
  • Timely and effective budget preparation and execution
  • Efficiency and effectiveness of expenditure (value for money)
  • Capability building, training and professionalisation of Treasury Division and budget officers service-wide.

In 2016, Nauru completed a PEFA self assessment. This provided a blueprint for public finance management reform in Nauru.

Nauru PEFA 2016 Self Assessment Report

Treasury manages whole of government financial transactions through the central Financial Management Information System. This is supplied by TechnologyOne Enterprise Suite.

Treasury provides access to this system for whole of government, and it is through FMIS work flow that Treasury approves expenditure and recognises revenue for GON.

If you work for the Government of Nauru and need access to the FMIS please contact Treasury.