1. Core Activities



1. Policy for Public Enterprises
2. Finance Act No. 38 of 1971
3. Code of Best practice
4. Cabinet Memoranda
5. Monitoring and Review of Public Enterprises
6. Resource Allocation
7. Performance Reviews of Public Enterprises
8. Management and Audit
9. Investment Portfolio
10. Restructuring
11. Post Privatization Issues
12. Other Core Activities



2. Support Activities



1. Administration and Establishment matters of the Department of Public Enterprises
2. Accounting and Finance functions of the Department of Public Enterprises

CORE ACTIVITIES

1. Policy for Public Enterprises

1.1 Formulation of Policy for Public Enterprises
1.2 Develop Financial Management Policies
1.3 Issue of Circulars/ directives on matters relating to Public Enterprises
1.4 Updating and revision of Public Enterprises Guidelines
1.5 Ensure compliance with statutes, rules, regulations, Public Enterprises guidelines, circulars and directives
1.6 Ensure Financial reporting in compliance with Sri Lanka Accounting Standards

2. Finance Act No. 38 of 1971

2.1 Ensure implementation of the provisions of Finance Act No. 38 of 1971with regard to Commercial Corporations and Statutory Boards.


2.1.1 Approval for Capital Expenditure
2.1.2 Appropriation of net revenue surpluses
2.1.3 Concurrence for investments of cash surpluses
2.1.4 Fixing of borrowing limits
2.1.5 Imposition of special levy
2.1.6 Ensure compliance with provisions of the Finance Act


3. Code of Best practice

3.1 Implementation of Best Practices for Good Governance in Public Enterprises

3.1.1 Issue of Guidelines/ Circulars
3.1.2 Formulation of Corporate Charters
3.1.3 Preparation of Citizen Charters
3.1.4 Monitor the implementation of Code of Best Practices in liaison with relevant Institution/Agencies

4. Cabinet Memoranda

4.1 Study and analyze the proposals in Cabinet Memoranda in liaison with related Ministries and Agencies
4.2 Preparation of observations on Cabinet Memoranda
4.3 Follow up action on implementation of Cabinet decisions wherever necessary


5. Monitoring and Review of Public Enterprises

5.1 Examination of the following:-

a. Corporate Plan
b. Budget
c. Draft Accounts
d. Draft Annual Reports
e. Audited Accounts


5.2 Performance Evaluation of Public Enterprises
a. Annual Reports and Accounts
b. Quarterly Reports


5.3 Preparation of performance reports for reviews by Committee on Public Enterprises, Cabinet Sub Committee on Establishment Matters and National Review Committee.

5.4 Follow up Action .on 5.1,5.2 and 5.3 above


6. Resource Allocation

6.1 Determination of Budgetary allocations to Statutory Boards and other Public Enterprises where necessary:-



a. Examination of Draft estimates/ Draft budgets
b. Determine budgetary allocations and recommend to Department of National Budget for inclusion in the National budget
c. Release of funds based on cash flows and expenditure statements
d. Supervision and control of the Finance and Budgetary aspects of Public Enterprises


7. Performance Reviews of Public Enterprises

7.1 Servicing Cabinet Sub Committee on Establishment Matters


7.1.1 Preparation of Performance reports
7.1.2 Attend review meetings
7.1.3 Follow up action on findings/recommendation


7.2 Servicing Parliamentary Committee on Public Enterprises

7.2.1 Preparation of Performance reports
7.2.2 Attend review meetings
7.2.3 Follow up action on findings/recommendation


7.3 Servicing National Review Committee

7.3.1 Convening and Coordinating
7.3.2 Preparation of Performance Reports
7.3.3 Attend review meeting
7.3.4 Follow up action on findings/recommendation


8. Management and Audit

8.1 Monitor compliance of Accounting Standards in financial statements
8.2 Coordinate activities of Audit Committees and management committees
8.3 Coordinate appointment of auditors for Government Owned Companies
8.4 Nomination/ appointment of Board members including Treasury Representatives
8.5 Recommend to ST nomination for appointment of proxies for AGM
8.6 Examine Reports of Treasury Representatives for non-compliance and matters of major importance for submission to ST


9. Investment Portfolio

9.1 Strategic Companies - Coordinating and assisting PERC on matters relating to Shareholders and Management Agreements
9.2 Attending to matters relating to disposal of balance GOSL shares of strategic companies
9.3 Attending to matters relating to the Golden Shareholder


10. Restructuring

10.1 Identification of Public Enterprises for restructure /divestiture
10.2 Coordinate and assist PERC in the restructuring process of Public Enterprises


11. Post Privatization Issues

11.1 Attending to issues arising from implementation of memorandum of understanding in consultation with PERC and other related institutions /divestiture


12. Other Core Activities

12.1 Conduct workshops/ seminars on matters relating to Public Enterprise
12.2 Co-ordinate matters relating to Public Enterprises with other Treasury Departments
12.3 Maintenance of database of Public Enterprises

1. Administration and Establishment matters of the Department of Public Enterprises



1.1 General Administration and Establishment matters
1.2 Procurement activities
1.3 Maintenance of Fixed Assets Register and conduct Annual Board of Survey
1.4 Organize staff Training programs
1.5 Performance appraisal of staff
1.6 Preparation of Annual Work Plan
1.7 Preparation of administration (performance) Report of the Department
1.8 Respond to audit queries



2. Accounting and Finance functions of the Department of Public Enterprises



2.1 Preparation of Departmental Annual Budget

2.2 Implementation of computerized accounting system (CIGAS), payroll & other application packages

i. Maintenance of Cash Book, Vote Ledger and other Ledger Accounts

ii. Receipts
a. Imprest
b. Miscellaneous
c. Deposits


iii. Payments
a. Personal emoluments
b. Traveling expenses
c. Supplies
d. Maintenance expenses
e. Contractual services
f. Acquisition of fixed assets
g. Other payments


iv. Reconciliation
a. Bank
b. Imprest
c. Deposit
d. Advance to public officers


v. Preparation of Final Accounts
a. Appropriation Account
b. Advance to Public Officers Account
c. Revenue accounts


vi. Coordination with the administration and establishment in preparation of the annual performance report