The PFM Coordination Unit, in partnership with the Office of the Accountant General, held a Treasury Single Account training workshop for key staff from the Office of the Accountant General on August 23, 2021.
The Treasury Single Account (TSA) concept involves consolidating all Government of Somaliland bank accounts into a single account or a group of linked accounts for all government payments and receipts.
This aims to harmonize Government banking arrangements so that relevant government stakeholders including the Ministry of Finance (MoF) and the Office of the Accountant General (OAG) can have complete control over government cash flows across bank accounts.
The TSA is primarily intended to bring all government funds in bank accounts under the Treasury’s effective control and operational purview, in order to establish a centralized, transparent, and accountable revenue management; facilitate effective cash management; ensure cash availability, and allow optimal investment of idle cash.
The second session of the training focused on equipping staff with critical soft skills, such as leadership, problem-solving and time management.