Tasks

The Department of Finance is responsible for the following tasks i.a.

Financial-economic policy management:

  • Developing financial policy in conjunction with economic policy, budget policy, and financing plan, as well as coordinating policies with other ministries;
  • Advising the Minister of Finance and other ministers, directors, department heads, and officials in leadership positions, both upon request and proactively, on financial-economic matters;
  • Advising on the financial implications of policy proposals;
  • Advising ministers and their respective departments in the context of responsible financial management.

Budget cycle administration:

  • Maintaining the central budget and financial administration on behalf of the Government of Aruba;
  • Coordinating the creation of ministry budgets and subsequent budget amendments;
  • Reviewing budget proposals and baseline estimates from ministries and their respective departments;
  • Monitoring and reporting on the execution of ministry budgets;
  • Advising and supporting budgetarily autonomous entities regarding their budgets and financial administrations;
  • Preparing the annual report, annual accounts, and other financial reports for the Government of Aruba;
  • Ensuring compliance with the provisions of the Comptabiliteitsverordening 1989 (CV1989) and the resulting regulations;
  • Ensuring that the (draft) budget of the Government of Aruba complies with the norms of the Landsverordening Aruba financieel toezicht (LAft).

Asset management:

  • Manages - on behalf of the Minister of Finance - the treasury and the monetary instruments belonging to and/or entrusted to the government;
  • Ensuring efficient management of incoming and outgoing cash flows and the financial position of the government, excluding the collection of taxes and other non-tax revenues that are collected by other respective departments;
  • Executing payments on behalf of the Government of Aruba.