Sub Program 4 (Ministry of Economy and Finance)
The Law on SNA Financial Regime and Property Management (the Sub-national Finance Law) was adopted in 2011, at the very latest, to allow the SNAs to prepare their budget. Sub-program 4 describes the policy framework for financial management within SNAs and designs and implements three funding mechanisms to ensure SNAs have access to funding which is formula based, transparent, and largely unconditional. These are: the CS Fund, the DM Fund, and a “Sub-national Investment Facility” (SNIF). At the same time, the current modalities of budget transfer from National to Capital and Provinces should be reviewed in order to improve and ensure the principles for equity, transparency accountability and efficiency.
MEF, under this Sub-program is also responsible for developing financial management systems (including asset management systems, procurement procedures, etc), reviewing the existing Commune/Sangkat financial management system to enable Communes/Sangkats engage in joint funding and managing the intra administration projects and developing processes for building SNA capacity to effectively manage their finances.
Finally, Sub-Program 4 goes beyond the policy issues and sets out a capacity-development program through which MEF will develop capacity to operate and oversee the proposed funding modalities and to develop the systems and capacities for SN Public Finance Management at the Capital District/Municipality level and further capacity development of Commune/Sangkats on their financial management.
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