“We’ve Lost Control Of Budget Process” -Speaker Koffa Claims

House Speaker Cllr. J. Fonati Koffa has issued a cautionary statement following the passage of the recast 2024 budget, stressing the need for significant reforms in the budgetary process. In his remarks, Speaker Koffa emphasized that the Legislature has inherited a complicated and flawed budget process that requires urgent attention. “We are responsible for the people’s money,” he stated, acknowledging the historical challenges faced by the Legislature in effectively managing budgetary matters. While expressing his support for the recast budget, Speaker Koffa called on the Committee on Ways, Means, and Finance to proactively prepare for the 2025 National Budget. He urged the committee to implement a structured approach regarding how budgets are received, transmitted, and executed, stressing that accountability from the Executive Branch is important.  “The violations noted in the recast budget cannot be tolerated. Off-budget spending must adhere strictly to legal guidelines, and the House cannot grant waivers for such infractions,” he asserted. Speaker Koffa highlighted the importance of ensuring that the budget reflects accountability and transparency in financial management. He urged the Ways, Means, and Finance Committee to re-evaluate the Public Financial Management (PFM) Law, asserting that the current structure has allowed an unelected official, the Finance Minister, to shift funds at his discretion—an authority that must be curtailed. “Any passage of the 2025 National Budget must involve necessary adjustments and amendments to the PFM Law,” he stated. He also reminded his colleagues that despite differences, the Legislature must not jeopardize the nation’s progress. The Speaker’s statements have come as the House seeks to enhance its oversight and ensure fiscal responsibility in the management of public funds.