Role and Functions

The major function of the Treasury Division is to ensure that proper accounting can be given to Parliament. This will therefore include the provision of financial accounting services and systems and the production of the Consolidated Accounts of Trinidad and Tobago. The Division is headed by the Comptroller of Accounts and to facilitate its functions, the Division is structured into the following Branches: –

1. Financial Management
2. Treasury Management
3. Pensions Management

Financial Management Branch

One of the core functions of the Financial Management Branch is that of reviewing and updating Financial Accounting and Management Systems in the Public Service. The services this Branch provides to its clientele are as follows: –

1. Developing, implementing and monitoring financial management and accounting systems and procedures in the Public Service.
2. Investigating irregularities in the Financial Management and Accounting Systems.       
3. Training and developing personnel in financial management and accounting systems and procedures in the Public Service.
4. Providing advice to Ministries and Departments and to the Public Accounts Committee (PAC) in financial and accounting matters.
5. Developing and monitoring Internal Audit Units in the Public Service.     
6. Issuing instructions for the recovery of overpayments where appropriate and making recommendations for the write off of losses of cash and stores and overpayments where these are no longer recoverable.
7. Ensuring that Accounting and Administering Officers are appointed by the Minister of Finance.
8. Making recommendations to the Minister of Finance for opening Bank accounts and setting guidelines for the operation of public or official Bank accounts.

Treasury Management Branch

The Treasury Management function is the hub of the operations between the Treasury Division and Ministries/Departments in respect of the disbursement of Parliamentary funds and the final reporting to Parliament via the statutory Treasury Statements and Appropriation Statements.

Treasury Management encompasses the following sub-branches:

1. General Ledger Services
2. Public Debt Management
3. Loans Management
4. Finance and Accounts
5. Cash Monitoring

Services provided by the Treasury Management Branch

1. Encashment of government cheques;
2. Wire Transfers:-
   • Direct payments through the CBTT to foreign suppliers
   • Payments through the Overseas Missions
   • Payments through Other Governments and Administrations i.e. payments made by the Government of T&T on behalf of Caribbean Governments
3. Issue approved credits to Ministries/ Departments;
4. Provide Flight Insurance;
5. Counterfoil- Stock keeping of receipt books and blank cheque forms;
6. Reconciliation;
7. Maintain Deposit and Fund accounts and produce cheques;
8. Process motor vehicle loans (purchase, repair and insurance).

For further information, please contact us at:

Treasury Director, Treasury Management Branch – (868) 223-2941 ext. 2600
Senior Treasury Accountant, Treasury Management Branch – (868) 223-2941 ext. 2603

General Ledger Services

The General Ledger Services (GLS) Section is responsible for the accounting operations required to produce the annual financial statements of government relative to its revenue and expenditure. GLS interfaces with every Ministry and Department in producing, recording, maintaining and reconciling accounting records to permit them to produce their Appropriation Statements.

GLS also has the responsibility for the consolidation of the revenue collected by Ministries/Departments, District Revenue Offices and the Tobago House of Assembly for incorporation into the General Ledgers of the Republic. It is charged with the responsibility for reporting in detail, the revenue collected during any financial year.

The monthly processing of receipts and expenditure transactions emanating from each and every Overseas Embassies, High Commissions or Consulates. The conversion of transactions from each foreign currency to TT$ is also undertaken within GLS.

The main functions of this section are as follows:

1. The production of the Consolidated Financial Statements of Trinidad and Tobago (GLS consolidates the revenue and expenditure of all Ministries/Departments necessary for the production of such Accounts);
2. The provision of cashing facilities for the encashment of Government cheques;
3. The provision of flight insurance for public officials who travel overseas in the performance of their duties;
4. Making payments in respect of unclaimed lottery tickets (such claims to be first verified by the National Lotteries Control Board);
5. Issuing of counterfoil books and blank cheque forms to Ministries and Departments;
6. Funding Overseas Missions and arranging for overseas payments to be made on behalf of Ministries and Departments;
7. Fleet Card Facility – prepares monthly payment Vouchers and Schedule of Accounts based on the charges in the bank report for allocation by Ministries and Departments.

For further information, please contact us at:
Treasury Executive II – General Ledger Services Section – (868) 223-2941 ext. 2602

Public Debt Management (PDM)

The major function of the Public Debt Management (PDM) Section is the management of Government loans, both local and international. This includes:

1. Budgeting for loan payments;
2. Repaying Government loans, both local and foreign;
3. Creating and maintaining Sinking Funds to provide for future loan repayments;
4. Making investments on behalf of various Government institutions;
5. Maintaining the records of loans granted from General Revenue and from Long  Term Development Funds;
6. Producing the Statement of the Public Debt at the end of each Fiscal Year.

For further information, please contact us at:
Treasury Accountant II – Public Debt Management Section – (868) 223-2941 ext. 2813

Loans Management

The Loans Management Section provides loans to public officials who are required to keep/use a vehicle in the performance of his/her duties. These loans are dispersed for:

1. The purchase of motor vehicles;
2. Insurance of motor vehicles;
3. Repair of motor vehicles.

Additionally, Loans Management is responsible for collecting and accounting for payments under the Cess, Devaluation and Computer Loan facilities.

Loan Management Booklet

For further information, please contact us at:

Treasury Executive II – Loans Management Unit – (868) 223-2941 ext. 4302

Finance and Accounts (F&A)

The Finance and Accounts (F&A) Section provides the accounting services for the Treasury Division, other divisions of the Ministry of Finance and in certain areas (non-budgetary funds) for the entire Public Service. It is also responsible for the production of the Consolidated Appropriation Account of the Ministry of Finance and the detailed Appropriation Statements of the Comptroller of Accounts. F&A also provides a disbursement function on behalf of other Governments and Administrations. The delivery of quality service to its clientele is the main objective in this area.

In addition to the normal operations of an accounting unit, F&A also undertakes the following:

1. Issuing cheques in respect of Funds and Deposit Accounts of Ministries and Departments;
2. Requesting other Governments to make payments on behalf of Ministries and Departments and reimbursing these Governments for payments made;
3. Effecting payments on behalf of other Governments and making claims for payments made;
4. Payment of Costs/Damages in respect of successful High Court Actions against the State. These payments are made on the instructions of the Chief State Solicitor;
5. Insurance of government vehicles;
6. Dormant Accounts – Bank Accounts which remain inoperative for a period of 14 years and over are closed by the commercial banks and the balances are transferred to the Consolidated Fund.

For further information, please contact us at:
Treasury Executive II – Finance and Accounts Section – (868) 223-2941 ext. 1026

Cash Monitoring (CM) Section

This section is responsible for monitoring and reporting on the various bank accounts held by the Treasury Division, Ministry of Finance. CM is also responsible for payments and receipts made by Ministries and Departments.

For further information, please contact us at:
Treasury Accountant II – Cash Monitoring Unit  – (868) 223-2941 ext. 1200

The Pensions Management Branch

The Pensions Management Branch (PMB) is committed to processing and paying retirement benefits promptly. PMB is responsible for the administration of Public Service Pension Schemes in accordance with various Pension Laws, Regulations and Memoranda of Agreement which relates to the Judicial, Legislative and Administrative Services for the Republic of Trinidad and Tobago. 

This administration commences with the annual collection and collating of service records in respect of all serving monthly paid Public Officers and ends with the payment of a monthly pension for the life of the pensioner.

In addition to the Public Officers, the PMB also pays a Gratuity to Daily Paid employees and computes the Retirement Benefits which are paid by the Ministry/Department.

The PMB also administers the Widows and Orphans Pension Scheme.  The Branch maintains the records of eligible male officers who are deemed contributors to the Widows and Orphans Pension Scheme.  

With respect to contract officers within the Public Service, the Pensions Management Branch also pays Contract Gratuity due to these officers.

The Branch also facilitates payment through Overseas Missions/Embassies and other Governments on behalf of Pensioners residing in those jurisdictions.

Life Certificates
All Government Pensioners are required to complete and submit Life Certificates by April and October of each year.

Please note:
The information set out on this page is in a summarized version and is not intended to cover all aspects and legal provisions relevant in the administration of pension matters.

For further information on the above, please contact the Pension Management Branch (PMB), Treasury Building, #1 St Vincent Street, Port of Spain.

For further information, please contact us at:

Telephone: (868) 223 2941 exts. 1015 and 1018
Fax No: (868) 625 9603

MONTHLY PAID OFFICERS BENEFITS

Eligibility for Benefits

INFORMATION REQUIRED FROM MINISTRIES/DEPARTMENTS FOR THE PROCESSING OF BENEFITS

The following information must be submitted by Ministries/Departments at least three (3) months prior to the date of retirement to facilitate the processing of benefits:

1. Full Pensions and Leave Records full;
2. Signed copy of your Memo to the Director of Public Administration (D.P.A.) noting the retirement (original not a photocopy);
3. Original signed letter of benefits option (signed before retirement date);
4. Original Birth Certificate with supporting Affidavit (if necessary);
5. Original Marriage Certificate (where applicable);
6. Director of Public Administration’s (D.P.A’s) letter of first permanent appointment (a signed/certified copy);
7. A letter of confirmation (a signed/certified copy);
8. National Insurance and Income Tax File;
9. Statement of all Indebtedness to Government re: Overpayment of Salaries etc.;
10. Address and telephone contact number.

NB: Please note that employees should ensure that their Pension and Leave Records are prepared, maintained and reviewed annually.

WIDOWS AND ORPHANS SCHEME

All male public officers holding permanent confirmed appointments in the Public Service including male members of the Police Service, Prison Service including male members of Police Service, Prison Service and Fire Services are eligible for acceptance to the Scheme.

Only notional contributions are applied to the Scheme in respect of serving male public officers.  (Contributions to Widows and Orphans’ Scheme absorbed wide NIS contribution with effect from September 1^st, 1980). Contributions cease to be payable after 35 consecutive years or an attaining age 65, whichever is earlier.

Who qualifies for benefits?

• Widows;
• Orphans (or children of marriage under the age of 18 years).

When to Claim:

• On the death of the Contributor.

How to Claim:

Submit an application to the Pensions Management Branch supported by the following original documents:-

• Death Certificate of the Contributor;
• Birth Certificate of Contributor;
• Birth Certificate of Contributor, widow and Children under 18 years;
• Marriage Certificate.

Cessation of Widows and Orphans Pension:

Widow

• Her death;
• Remarriage;
• Bankruptcy.

Orphans

• On the attainment of age 18 (except in cases of eligible disabled orphans);
• Female orphan married prior to age 18, then benefit ceases on the date of marriage.

Legislation

1. The Constitution of the Republic of Trinidad and Tobago (Chapter 8)
2. The Exchequer and Audit Act
3. The Financial Regulations to the Exchequer and Audit Act
4. The Financial Instructions 1965

Contact Information

Treasury Division
Ministry of Finance
Treasury Building
#1 St. Vincent Street
Port-of-Spain

Telephone: (868) 223-2941 (Pensions Hotline extensions: 1015 & 1018)

Treasury Director, Treasury Management Branch                              (868) 223-2941 ext. 2600

Senior Treasury Accountant, Treasury Management Branch              (868) 223-2941 ext. 2603

Treasury Executive II – General Ledger Services Section                  (868) 223-2941 ext. 2602

Treasury Executive II – Loans Management Unit                               (868) 223-2941 ext. 4302

Treasury Executive II – Finance and Accounts Section                      (868) 223-2941 ext. 1026

Treasury Accountant II – Public Debt Management Section               (868) 223-2941 ext. 2813

Treasury Accountant II – Cash Monitoring Unit                                 (868) 223-2941 ext. 1200

Fax: (868) 627-6625