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19.11.2008 General News

GH¢61.7m Common Fund Released

By Times Reporter - newtimesonline.com

THE government has released GH¢61.7 million for the third quarter to the Municipal, Metropolitan and District Assemblies to finance their development programmes.

The District Assemblies Common Fund Secretariat is processing the money for disbursement to the 170 assemblies.

Mr Joseph Magnus Nicol, Administrator of the District Assemblies Common Fund,  disclosing this to the Times in Accra yesterday, said the secretariat had already disbursed the MP's share of the Common Fund to all the 230 members to finance emergency needs of their constituencies.

Besides, Mr Nicol said 1.5 per cent of the fund had been disbursed to the various Regional Coordinating Councils to support the monitoring of the various projects and programmes initiated by the assemblies to ensure value for money.

He advised the assemblies to use the money judiciously to meet the needs and aspirations of the people.

He said the Secretariat would next year, hold workshops for the assemblies to enhance their service delivery capacities.

The Common Fund constitutes a percentage of national revenue set aside to be shared among all the assemblies with a formula approved by Parliament last year.

It is the largest single fund from the central government to complement moneys internally generated  by the assemblies and is meant to strengthen decentra-lisation and promote sustainable self-help development.

The allocation of the fund is usually in arrears because it is drawn from the national kitty which relies on revenue inflows.

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