Techiman (B/A), July 9, GNA - Mr Patrick Zoiku, an official of the Office of the Administrator of the District Assemblies Common Fund (DACF) explained at a workshop in Techiman on Wednesday that the Fund was meant to promote development in the Assemblies.
He said even though the Common Fund Act was passed in 1993, the actual disbursement started in 1994 and this was made possible through the five per cent government tax revenue.
Mr Zoiku was speaking on "Guidelines on Returns and Submissions of Reports" at a three-day residential workshop for 36 participants made up of co-ordinating directors, district finance officers, budget and planning officers and chairmen of finance and sub-committees of various District Assemblies in Brong Ahafo.
The workshop, organized by the Institute of Local Government Secretariat and the DACF was aimed at equipping the participants with the requisite knowledge on how to manage financial and accounting procedures of the District Assemblies through monitoring and reports on the Common Fund.
Mr Zoiku said the Fund released 186.39 billion cedis to the various District, Municipal and Metropolitan Assemblies, Members of Parliament and the regional co-ordinating councils during the first quarter of the year.
"The secretariat has lodged 1,811,907 billion cedis since the inception of the Fund to the DACF account between 1994 and December 2003", he added.
The DACF official said: "Just as the government has kept faith with the release of funds, stakeholders should play their part to ensure that they are used judiciously for the purpose for which the Fund was established".
He explained that the Common Fund formula was formulated by the Administrator of DACF and approved by Parliament before implementation and stakeholders must take stock of their performances in the utilization of the Fund.
Mr. Gershon Bissi, Co-ordinator of the programme said the workshop was a collaborative effort between the Institute of Local Government Secretariat and the DACF to ensure effective monitoring of the Fund. In a welcoming address, Mr. Isaac Osei-Antwi, Techiman Municipal Chief Executive, expressed appreciation for the workshop and asked the participants to put in their best to make it a success.
Topics treated at the workshop included Overview of the DACF Cycle, Accounting and Book-keeping Procedures, Monitoring Roles of Co-ordinating Councils and Civil Societies, Guidelines on Returns and Submission of Reports. 9 July 04
