Finance Ministry releases monies to Common fund

The Ministry of Finance has released an amount of GH¢336,168,522.78 to the Controller and Accountant General’s Department for the disbursement into the District Assembly Common Fund (DACF).

According to the Finance Ministry, the amount is the 2018 first quarter payment for the District Assembly Common Fund, which had duly been paid.

Mrs Abena Osei-Asare, Deputy Minister of Finance announced this when she appeared before Parliament to answer questions relating to the release of funds to the DACF.

This follows a question by Mr Samuel Okudzeto Ablakwa, Member of Parliament for North Tongu asking the Minister of Finance when the first quarter of the DACF for 2018 fiscal year which has been in arrears, would be released.

He also asked what accounted for the delays in the releases of the DACF to the various districts.

Mrs Osei-Asare also stated that the amount had been released and hopefully, would hit the accounts of most of the district assemblies by next week.

She explained that in situations when revenue inflows were not sufficient to meet all constitutional charges from consolidated funds delays may occur.

She said the Ministry of Finance on its part, released the letter and funds on time but needed to laisse with the Ministry of Local Government and the Administrator of the Common Fund to expedite action when the releases come to them.

Source: GNA