On Saturday, December 23, 2023, Parliament approved the Appropriation Bill, 2023, allowing the Government to access GH¢259.05 billion from the Consolidated Fund and other public funds for its expenditures in the 2024 financial year.
The Bill’s primary purpose is to facilitate appropriation for the year 2024, as mandated by the constitutional requirement outlined in paragraph (a) of clause (2) of Article 179.
This article stipulates that estimates of public office expenditures must be included in an Appropriation Bill introduced in Parliament, authorizing the release of funds from the Consolidated Fund and other public funds to cover Government expenses.
In line with the constitutional provision, an amount not exceeding GH¢259.05 billion is mandated to be withdrawn from the Consolidated Fund and other public funds throughout the financial year commencing on January 1, 2024, and concluding on December 31, 2024.
These funds will be allocated for the purposes specified in the First Schedule, corresponding to the Third and Fourth Schedules, representing Ministries, Departments, and Agencies, along with Other Government Obligations and their respective programs.
Furthermore, the Bill grants specific Ministries, Departments, and Agencies (MDAs) the authority to retain and utilize GH¢12.33 billion during the financial year spanning from January 1, 2024, to December 31, 2024.
Addressing the disbursement of funds on the Finance Minister’s authorization, the Bill specifies that the Controller and Accountant-General can disburse any sum not exceeding GH¢259.05 billion from the Consolidated Fund and other public funds during the financial year concluding on December 31, 2024, based on a warrant issued by the Minister responsible for Finance.