Chapter 9 - Finance
All of the Bahamas’ revenues will be paid into a Consolidated Fund, unless otherwise stated by law.
At the end of each financial year, the Minister of Finance will give a report of the estimated revenue and expenditure for public services during that financial year.
Before the start of each financial year, the Minister of Finance will table an Appropriation Bill (Budget) at the House of Assembly. The budget will list the estimated amount that will be spent during the upcoming financial year. The Government cannot spend more than the amount approved in the Budget. Only the Minister of Finance or someone authorised by them can approve withdrawals from the consolidated fund and all money taken from the fund must be used for the public.
The Minister of Finance can request more money at the House of Assembly when needed and approved amounts must documented in the "Supplemenatry Appropriation Bill" before the end of the year. Any money not spent goes back into the consolidated fund.
The law can allow "statutory spending" which is not included in the budget and does not have to be voted on by Parliament. This money must be used for the specified legal reason.
If a new budget is not approved at the start of a financial year, the Minister of Finance can approve withdrawals from the consolidated fund so that the public service can continue. This withdrawal must follow any guidelines in place. If there are no guidelines, they must receive permission from the House of Assembly. The withdrawals must be documented, tabled at the House of Assembly, and added to the next budget.
Parliament can approve a contingency fund and authorise the Minister of Finance to use the funds if needed. Withdrawals must be tabled at the House of Assembly and added to the budget.
Public Debt is paid out of the Consolidated Fund.
The salary of the following Offices are decided by law and paid out of the consolidated fund. Their salaries cannot be decreased after they are appointed and no other changes can be made that would disadvantage them.
1. Governor General
2. Justices
3. Auditor General
4. Members of Commissions discussed in chapter VIII
5. Members of the Public Service Board of Appeal
Auditor General
The position of Auditor General is a public office. The Public Service Commission will consult with the Prime Minister and then choose a person to be Auditor General. The Governor General will appoint the person.
At least once year, the Auditor General will audit and create a report on the accounts of the following areas:
1. the Supreme Court
2. the Senate
3. the House of Assembly
4. all departments and offices of the Government (excluding the Department of the Auditor-General)
5. the Public Service Commission
6. the Judicial and Legal Service Commission
7. the Police Service Commission
8. and all Magistrates' Courts
Their staff will be entitled to access the books, records, returns and reports related to these accounts. The Auditor General is not be under the control of anyone when compiling the report.
The Auditor General submits the report to the Speaker and it is presented to the House of Assembly immediately.
The Minister of Finance reviews the accounts of the Auditor General and submits the report to the Deputy Speaker for immediate presentation to the House of Assembly.
Removal of the Auditor General
Note *** Auditor Generals remain in place even when the Prime Minister changes.***
The Auditor General can only be removed if they are unable to perform the duties (because of physical, mental, or any other reason) or because of misbehaviour.
If a request for removal is made, the Public Service Commission can have the Auditor General suspended. The suspension can be revoked at any time by the Governor General and will be revoked automatically the Tribunal decides that the Auditor General should not be removed from office.
If the Prime Minister requests the Governor General the remove the Auditor General, the Governor General Governor General will appoint a Tribunal consisting of a Chairman and at least two other people. The members wills be chosen by the Judicial and Legal Services commission and must be eligible to hold high legal office. The Tribunal decides whether or not the person should be removed.
