Nov 22, 2017 Last Updated 10:16 AM, Nov 8, 2017

The Minister of Finance & the Public Service

The Honourable Minister Audley Shaw CD, MP, Minister of Finance and the Public Service. He is a graduate of Northern Illinois University (NIU) with a Bachelor of Arts and Master of...

Minister of State in the Ministry of Finance and the Public Service

The Honourable Rudyard Spencer, CD, MP is Minister of State (Public Service), with the Ministry of Finance and Public Service. Minister Spencer studied Industrial Relations at Medg...

Minister of State in the Ministry of Finance and the Public Service

The Honourable Fayval Williams, MP, is Minister of State in the Ministry of Finance and the Public Service. Minister Williams is a Chartered Financial Analyst (CFA), and holds an M...

How will the CTMS be implemented?

The process is being guided by a Steering Committee comprising the Director General of the Ministry of Finance & the Public Service -Devon Rowe - as team leader, and members from the Accountant General’s Department, Bank of Jamaica, Planning Institute of Jamaica and the Ministries of Education and Youth, Finance & the Public Service and Transport and Works.

The implementation of the CTMS will be under the control of a single Agency – namely the Accountant General’s Department (AGD), operating a Treasury Single Account (TSA) which will reduce duplication and inefficiency.

With the CTMS, the Government will (in the first instance) -

  1. operate with a reduced number of accounts to improve cash management;
  2. eliminate idle balances and
  3. minimize borrowing.

Additionally the TSA will have several accounts, including the Consolidated Fund, managed by the Accountant General’s Department to gain optimum cash utilization and value.
As a result, the Accountant General’s Department will have be transformed to a modern Treasury and reorganized to meet the new requirements.

Was this helpful?