Department of Finance to implement three-year strategic plan
Tuesday, February 5, 2019
by Glen Simon, NCPC
THE PLAN WILL HELP POSITION THE DEPARTMENT AS A LEADER IN PUBLIC FINANCIAL MANAGEMENT.

The Department of Finance has developed a three-year strategic plan based on the core values of accountability, transparency, professionalism, teamwork and integrity. Some of the Key Result Areas (KRAs) of the plan includes improvement in revenue collection, oversight, monitoring and evaluation, research, policy planning and implementation, debt management, customer service, organizational development and promoting economic growth.

Deputy Director of Finance for Administration, Philomene St. Clair said the planning process began in May of 2018. The Caribbean Centre for Development Administration (CARICAD) was instrumental in the formulation of the draft strategic plan including the mission, vision, core values and mandate for the Department of Finance.

“So today we were able to develop our strategic goals, objectives and initiatives. And of course the strategic goals, objectives and initiatives is really the core of the strategic plan because from that we will be able to develop our annual work plans.”

St. Clair added that the plan will foster greater cohesion and coordination among the various units in the Department of Finance.

“The major departments Inland Revenue, Customs and so on operate with a high level of independence so it is our hope that having developed that strategic plan together that we will be able to present our achievements, report in a more coordinated way and that it would allow us to work more as a team.”

CARICAD an organization of CARICOM has been in existence since 1980 and is referred to the regions focal point for public sector transformation.  Devon Rowe, CARICAD’s Executive Director stated that CARICAD is focused on improving the administrative capabilities of the seventeen Caribbean territories it serves with strategic planning being one of these activities.

“Our role here was to help the officers of the Department of Finance to be able to better sequence their activities to ensure that the activities that have been identified are associated with appropriate strategies and that those strategies are costed and they can fit within a budget envelop that the Department of Finance may have. In addition the reform process is going to require significant thought, action and even more so implementation. The P.S. is focused on achieving results and we are here to help.” Rowe added that strategic thinking will allow the department of finance to adapt to varying problematic situations to become more solution oriented.

The strategic plan is expected to be fully implemented from April 2019.