2017/18 and a template created during the previous mission . Due to major differences in the presentation of the financial statements of Maseru City Council (MCC) and those of district councils, the mission assisted in the development of a new template for collecting data from financial statements of MCC and harmonizing the presentation of compiled data from all individual local governments in order to facilitated aggregation. The mission also used this template to start compiling MCCGFSdata using financial statements for Fiscal Years 2013/14 through 2017
This paper on government finance statistics (GFS) mission in Lesotho presents a review of progress against recommendations of previous GFS technical assistance (TA) missions and further assist with improving the quality of GFS currently compiled and disseminated. The mission reviewed progress with implementation of previous GFS TA recommendations and updated the public sector institutional table. The mission reviewed the new compilation methods and noted some improvements with the approach. Accounts payable are now recorded under financing, to bridge the timing difference of commitment basis expenditure. The report explains that the legal and institutional environment is conducive to compiling macroeconomic and financial statistics; the relevance and practical utility of existing macroeconomic and financial statistics are monitored; management processes are in place to monitor the quality of macroeconomic and financial statistics; and institutional integrity, transparency, and ethical practices meet statistical standards. There is still a need to correct recording to distinguish expense from acquisition of financial assets.