SACU Finance Technical Liaison Committee
Constitution and Mandate
- The role of the FTLC shall be to assist and advise the Commission in its work.
- The Terms of Reference for the Finance Technical Liaison Committee comprises generic and specific aspects.
- Provide technical advice to the Commission on revenue sharing and other related matters.
- Monitor the implementation of the SACU Agreement and its Annexes in so far as they relate to revenue sharing and other related matters, with a view to advise Commission.
- Support and facilitate the establishment and operation of SACU institutions provided for in the SACU Agreement.
- Facilitate the development and propose amendments to Annexes relating to revenue sharing and other related matters.
- Appoint task teams, where necessary, to facilitate the work of the FTLC.
- Carry out all duties and perform all functions assigned to it by the Commission.
- Make proposals, from time to time, to Commission for any amendments to the Terms of Reference.
- Facilitate the collection and analysis of economic, trade and revenue data for the application of the SACU Revenue Sharing Formula and advise the Commission on issues relating to the data and methodology for determining revenue allocations.
- Facilitate the derivation of customs and excise forecasts to be used in the calculation of revenue allocations and advise the Commission on issues relating to the revenue forecasting process and methodology.
- Share information on and monitor the performance of customs and excise collections and advise the Commission on trends.
- Assist in the development and implementation of accounting, auditing, governance and reporting processes for monitoring revenue flows into and out of the Common Revenue Pool.
- Ensure that the Common Revenue Pool is managed appropriately and advise the Commission on the timing and size of adjustment payments.
- Undertake regular reviews of the operations and management of the Common Revenue Pool and advise the Commission on means to increase transparency and minimise financing and administrative costs.
Operation of the FTLC
- The FTLC shall conduct its business in line with the Rules of Procedure for the Technical Liaison Committees approved by Council.