The 2019-2020 Budget Estimates represents the financial plan for the fiscal year and provides an overview of the revenue projections, expenditure intentions and service delivery commitments of all of ministries and departments. It is underpinned by the principles of programme and performance budgeting, and attempts to link resource allocation, agency spending decisions and government strategic priorities. As such, the presentation format has not undergone any significant change and continues to combine resource inputs (financial information), strategic priorities and performance information on outputs and outcomes targeted by ministries and departments for the services that are to be delivered.

While the 2019/20 Budget Estimates presentation format has not changed in any significant way, it does reflect information that is consistent with the new chart of accounts (new codification system for classifying transactions and events) recently developed by the Accountant General’s Department. The new chart of accounts has been designed to address deficiencies in the old chart in its inability to link government’s financial activities to its intended purpose or larger policy objectives. With the introduction of the new chart of account in 2019-2020, it is expected that government will be able to track expenditure by functions of government rather than simply programmes, ministries and departments. This is expected to significantly improve the quality of information provided in subsequent budgets and allow for the classification of expenditure in accordance with internationally accepted public sector accounting standards.

In keeping with the changes to the chart of accounts, project administrative expenses have been included as part of recurrent expenditure while expenses directly associated with the acquisition/production of assets have been classified as capital expenditure. In addition, expenditure on the acquisition of assets such as computers, equipment and vehicles are no longer included as projects but are reflected as capital expenditure. Changes in the structure of the Chart of accounts also resulted in the reclassification of programmes and the inclusion of divisions in presentation of the 2019/20 Budget Estimates. To enable comparative analysis, the 2017/18 actual expenditure, 2018/19 approved and revised estimates were restructured to reflect the new accounting structure.