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Table of Contents
Public Finance Management Act, 1999 (Act No. 1 of 1999)
Notice No. 282 of 1999
Act
Chapter 1 : Interpretation, Object, Application and Amendment of this Act
1. Definitions
2. Object of this Act
3. Institutions to which this Act applies
4. Amendments to this Act
Chapter 2 : National Treasury and National Revenue Fund
Part 1 : National Treasury
5. Establishment
6. Functions and powers
7. Banking, cash management and investment framework
8. Annual consolidated financial statements
9. Financial statistics and aggregations
10. Delegations by National Treasury
Part 2 : National Revenue Fund
11. Control of National Revenue Fund
12. Deposits and withdrawals by South African Revenue Services in Revenue Funds
13. Deposits into National Revenue Fund
14. Withdrawal of exclusions
15. Withdrawals and investments from National Revenue Fund
16. Use of funds in emergency situations
Chapter 3 : Provincial Treasuries and Provincial Revenue Funds
Part 1 : Provincial Treasuries
17. Establishment
18. Functions and powers
19. Annual consolidated financial statements
20. Delegations by provincial treasuries
Part 2 : Provincial Revenue Funds
21. Control of Provincial Revenue Funds
22. Deposits into Provincial Revenue Funds
23. Withdrawal of exclusions from Provincial Revenue Funds
24. Withdrawals and investments from Provincial Revenue Funds
25. Use of funds in emergency situations
Chapter 4 : National and Provincial Budgets
26. Annual appropriations
27. National annual budgets
28. Multi-year budget projections
29. Expenditure before annual budget is passed
30. National adjustments budgets
31. Provincial adjustments budgets
32. Publishing of reports on state of budget
33. Withholding of appropriated funds
34. Unauthorised expenditure
35. Unfunded mandates
Chapter 5 : Departments and Constitutional Institutions
Part 1 : Appointment of accounting officers
36. Accounting officers
37. Acting accounting officers
Part 2 : Responsibilities of accounting officers
38. General responsibilities of accounting officers
39. Accounting officers' responsibilities relating to budgetary control
40. Accounting officers' reporting responsibilities
41. Information to be submitted by accounting officers
42. Accounting officers' responsibilities when assets and liabilities are transferred
43. Virement between main divisions within votes
Part 3 : Other officials of departments and constitutional institutions
44. Assignment of powers and duties by accounting officers
45. Responsibilities of other officials
Chapter 6 : Public Entities
Part 1 : Application of this Chapter
46. Application
47. Unlisted public entities
48. Classification of public entities
Part 2 : Accounting authorities for public entities
49. Accounting authorities
50. Fiduciary duties of accounting authorities
51. General responsibilities of accounting authorities
52. Annual budget and corporate plan by Schedule 2 public entities and government business enterprises
53. Annual budgets by non-business Schedule 3 public entities
54. Information to be submitted by accounting authorities
55. Annual report and financial statements
Part 3 : Other officials of public entities
56. Assignment of powers and duties by accounting authorities
57. Responsibilities of other officials
Part 4 : External auditors
58. Repealed
59. Repealed
60. Repealed
61. Repealed
62. Repealed
Chapter 7 : Executive Authorities
63. Financial responsibilities of executive authorities
64. Executive directives having financial implications
65. Tabling in legislatures
Chapter 8 : Loans, Guarantees and other Commitments
Part 1 : General principles
66. Restrictions on borrowing, guarantees and other commitments
67. No provincial foreign commitments
68. Consequences of unauthorised transactions
69. Regulations on borrowing by public entities
70. Guarantees, indemnities and securities by Cabinet members
Part 2 : Loans by national government
71. Purposes for which Minister may borrow money
72. Signing of loan agreements
73. Interest and repayments of loans to be direct charges
74. Repayment, conversion and consolidation of loans
75. Obligations from lien over securities
Chapter 9 : General Treasury Matters
76. Treasury regulations and instructions
77. Audit committees
78. Publishing of draft treasury regulations for public comment
79. Departures from treasury regulations, instructions or conditions
80. Determination of interest rates for debt owing to state
Chapter 10 : Financial Misconduct
Part 1 : Disciplinary proceedings
81. Financial misconduct by officials in departments and constitutional institutions
82. Financial misconduct by treasury officials
83. Financial misconduct by accounting authorities and officials of public entities
84. Applicable legal regime for disciplinary proceedings
85. Regulations on financial misconduct procedures
Part 2 : Criminal Proceedings
86. Offences and penalties
Chapter 11 : Accounting Standards Board
87. Establishment
88. Composition
89. Functions of Board
90. Powers of Board
91. Regulations on accounting standards of Board
Chapter 12 : Miscellaneous
92. Exemptions
93. Transitional provisions
94. Repeal of legislation
95. Short title and commencement
Schedules
Schedule 1 : Constitutional Institutions
Schedule 2 : Major Public Entities
Schedule 3 : Other Public Entities
Schedule 4 : Exclusions From Revenue Funds
Schedule 5 : Direct Charges Against National Revenue Fund
Schedule 6 : Repeal of Legislation
Regulations
Payroll Deduction Regulation, 2000
Notice 3098 of 2000
Preamble
1. Definitions
2. Application
3. Persal Deductions
4. Non-compliance with this Treasury Regulation constituting misconduct
5. Transitional Arrangements
6. Short Title and commencement
Regulations for Accounting Standards Board
Board Notice 60 of 2003
1. Definitions
2. Qualifications of members
3. Term of office
4. Remuneration, allowances, and benefits of members
5. Termination of membership
6. Conduct of members
7. Removal from office
8. Filling of vacancies
9. Chairperson and Deputy Chairperson
10. Meetings of the Board
11. Quorums and decisions
12. Procedure for conduct of meetings
13. Committees
14. Delegation of powers and duties
15. Employment of staff
16. Funding
17. Liability of Board
Treasury Regulations for departments, trading entities, constitutional institutions and public entities
Notice No. R. 225 of 2005
Part 1 : Definitions, application and date of commencement
1. General definitions and application
Part 2 : Management arrangements
2. Corporate management
3. Internal control
4. Financial misconduct
Part 3 : Planning and budgeting
5. Strategic Planning
6. Budgeting and related matters
Part 4 : Revenue and expenditure management
7. Revenue Management
8. Expenditure management
9. Unauthorised, irregular, fruitless and wasteful expenditure
Part 5 : Asset and liability management
10. Asset management
11. Management of debtors
12. Management of losses and claims
13. Loans, guarantees, leases and other commitments
14. Money and property held in trust
Part 6 : Frameworks
15. Banking, cash management and investment
16. Public private partnerships
16A. Supply Chain Management
Part 7 : Accounting and reporting requirements
17. Basic accounting records and related issues
18. Monthly and annual reports
Part 8 : Miscellaneous
19. Trading entities
20. Commissions and Committees of Inquiry
21. Gifts, donations and sponsorships
22. Payments and remissions as an act of grace
23. Government payroll deductions
Part 9 : Public entities
24. General definitions
25. Application and listing
26. Responsibilities of designated accounting officers
27. Internal control and corporate management
28. Annual financial statements and annual reports
29. Corporate planning, shareholder's compacts and annual budgets
30. Strategic planning
31. Cash, banking and investment management
32. Borrowings and leases
33. Financial misconduct
34. Repeal of regulations
Regulations prescribing Standards of Generally Recognised Accounting Practice
Notice No. R. 640 of 2020
Notices
Exemptions in terms of Section 92 of the Act
Notice No. 343 of 2000
Notice No. 585 of 2021
Notice No. 941 of 2022
Exemption from Act and Regulations - COVID-19 National State of Disaster
Notice No. 437 of 2020
Exemption from Act in terms of Section 92 - South African National Roads Agency Soc Ltd
Notice No. 241 of 2021
Exemption in terms of Section 92 - Eskom Holdings SOC Ltd
Notice No. 3247 of 2023
Exemption of National Empowerment Fund
Notice No. 6491 of 2025
Exemption in terms of Section 92 - Transnet SOC Ltd
Notice No. 6922 of 2025
Exemption in terms of Section 92 - Department of Agriculture
Notice No. 7236 of 2026
Exemption in terms of Section 92 - Consolidated Financial Statements
Notice No. 7288 of 2026
Interest to be Levied on Debts Owing to the State
Notice 1410 of 2002
Standard of Generally Recognised Accounting Practice (GRAP)
Notice No. R. 991 of 2005
GRAP 1 : Presentation of Financial Statements
GRAP 1 : Appendix - Illustrative Financial Statements Structure
GRAP 2 : Cash Flow Statements
GRAP 2 : Appendix-Cash flow statement
GRAP 3 : Accounting Policies, Changes in Accounting Estimates and Errors
GRAP 3 : Appendix - Statements
Standards of Generally Accepted Municipal Accounting Practice (GAMAP) in terms of Section 91
Notice No. R. 992 of 2005
Preface to the Standards of Generally Accepted Municipal Accounting Practice
GAMAP 4 : The Effects of Changes in Foreign Exchange Rates
GAMAP 6 : Consolidated financial statements and accounting for controlled entities
GAMAP 7 : Accounting for Investments in Associates
GAMAP 8 : Financial Reporting of Interests in Joint Ventures
GAMAP 9 : Revenue
GAMAP 12 : Inventories
GAMAP 17 : Property, Plant and Equipment
GAMAP 19 : Provisions, Contingent Liabilities and Contingent Assets
Ministerial Advisory Committee on a Mass Literacy Campaign for South Africa
Notice No. 1127 of 2006
Prescribing Standards of Generally Recognised Accounting Practice (GRAP) in terms of Section 91
Prescribing Standards of Generally Recognised Accounting Practice (GRAP) in terms of section 91
Notice No. 516 of 2008
Prescribing Standards of Generally Recognised Accounting Practice (GRAP) in terms of Section 91
Notice No. 218 of 2011
Rate of Interest on Government Loans
Rate of Interest on Government Loans - 1 July 2008
Notice 830 of 2008
Rate of Interest on Government Loans - 1 March 2009
Notice 179 of 2009
Rate of Interest on Government Loans - 1 July 2009
Notice 935 of 2009
Rate of Interest on Government Loans - 1 January 2011
Notice 3 of 2011
Rate of Interest on Government Loans - 1 January 2019
Notice 817 of 2018
Rate of Interest on Government Loans - 23 August 2019
Notice No. 437 of 2019
Rate of Interest on Government Loans - 1 July 2020
Notice No. 406 of 2020
Rate of Interest on Government Loans - 1 May 2020
Notice No. 407 of 2020
Rate of Interest on Government Loans - 1 September 2020
Notice No. 456 of 2020
Rate of Interest on Government Loans - 1 January 2022
Notice No. 746 of 2021
Rate of Interest on Government Loans - 1 March 2022
Notice No. 864 of 2022
Rate of Interest on Government Loans - 1 May 2022
Notice No. 1029 of 2022
Rate of Interest on Government Loans - 1 July 2022
Notice No. 1103 of 2022
Rate of Interest on Government Loans - 1 September 2022
Notice No. 1266 of 2022
Rate of Interest on Government Loans - 1 November 2022
Notice No. 1365 of 2022
Rate of Interest on Government Loans - 1 January 2023
Notice No. 1531 of 2022
Rate of Interest on Government Loans - 1 January 2023
Notice No. 1630 of 2023
Rate of Interest on Government Loans - 1 March 2023
Notice No. 1731 of 2023
Rate of Interest on Government Loans - 1 May 2023
Notice No. 1768 of 2023
Rate of Interest on Government Loans - 1 July 2023
General Notice 1907 of 2023
Rate of Interest on Government Loans - 1 November 2024
Notice No. 2816 of 2024
Rate of Interest on Government Loans - 1 January 2025
Notice No. 2920 of 2024
Rate of Interest on Government Loans - 1 March 2025
Notice No. 3043 of 2025
Rate of Interest on Government Loans - 1 September 2025
Notice No. 3462 of 2025
Rate of Interest on Government Loans - 1 January 2026
Notice 3707 of 2025
Statement of National Revenue, Expenditure and Borrowings
Statement of the National Revenue, Expenditure and Borrowing as at 31 July 2010
Notice No. 761 of 2010
2020 Statements
Statement of National Revenue, Expenditure and Borrowing as at 31 May 2020
Notice No. 358 of 2020
Statement of National Revenue, Expenditure and Borrowing as at 31 July 2020
Notice No. 462 of 2020
Statement of National Revenue, Expenditure and Borrowing as at 31 August 2020
Notice No. 521 of 2020
Statement of National Revenue, Expenditure and Borrowing as at 30 September 2020
Notice No. 618 of 2020
Statement of National Revenue, Expenditure and Borrowing as at 31 October 2020
Notice No. 679 of 2020
Statement of National Revenue, Expenditure and Borrowing as at 30 November 2020
Notice No. 742 of 2020
Statement of National Revenue, Expenditure and Borrowing as at 31 December 2020
Notice No. 27 of 2021
2021 Statements
Statement of National Revenue, Expenditure and Borrowing as at 31 January 2021
Notice No. 78 of 2021
Statement of National Revenue, Expenditure and Borrowing as at 28 February 2021
Notice No. 156 of 2021
Statement of National Revenue, Expenditure and Borrowing as at 31 March 2021
Notice No. 247 of 2021
Statement of National Revenue, Expenditure and Borrowing as at 30 April 2021
Notice No. 313 of 2021
Statement of National Revenue, Expenditure and Borrowing as at 31 May 2021
Notice No. 394 of 2021
Statement of National Revenue, Expenditure and Borrowing as at 30 June 2021
Notice No. 430 of 2021
Statement of National Revenue, Expenditure and Borrowing as at 31 July 2021
Notice No. 509 of 2021
Statement of National Revenue, Expenditure and Borrowings as at 30 November 2021
Notice No. 747 of 2021
Statement of National Revenue, Expenditure and Borrowing as at 31 August 2021
Notice No. 587 of 2021
Statement of National Revenue, Expenditure and Borrowing as at 30 September 2021
Notice No. 641 of 2021
Statement of National Revenue, Expenditure and Borrowings as at 31 October 2021
Notice No. 690 of 2021
Statement of National Revenue, Expenditure and Borrowings as at 31 December 2021
Notice No. 784 of 2021
2022 Statements
Statement of National Revenue, Expenditure and Borrowings as at 28 February 2022
Notice No. 191 of 2022
Statement of National Revenue, Expenditure and Borrowings as at 31 March 2022
Notice No. 1007 of 2022
Statement of National Revenue, Expenditure and Borrowings as at 30 April 2022
Notice No. 1058 of 2022
Statement of National Revenue, Expenditure and Borrowings as at 30 June 2022
Notice No. 1177 of 2022
Statement of National Revenue, Expenditure and Borrowings as at 31 July 2022
Notice No. 1242 of 2022
Statement of National Revenue, Expenditure and Borrowings as at 31 August 2022
Notice No. 1302 of 2022
Statement of National Revenue, Expenditure and Borrowings as at 30 September 2022
Notice No. 1357 of 2022
Statement of National Revenue, Expenditure and Borrowings as at 31 October 2022
Notice No. 1357 of 2022
Statement of National Revenue, Expenditure and Borrowings as at 30 November 2022
Notice No. 1528 of 2022
2023 Statements
Statement of National Revenue, Expenditure and Borrowings as at 31 January 2023
Notice No. 1638 of 2023
Statement of National Revenue, Expenditure and Borrowings as at 28 February 2023
Notice No. 1697 of 2023
Statement of National Revenue, Expenditure and Borrowings as at 31 March 2023
Notice No. 1775 of 2023
Statement of National Revenue, Expenditure and Borrowings as at 30 April 2023
Notice No. 1844 of 2023
Statement of National Revenue, Expenditure and Borrowings as at 31 May 2023
Notice No. 1884 of 2023
Statement of National Revenue, Expenditure and Borrowings as at 31 July 2023
Notice No. 1997 of 2023
Statement of National Revenue, Expenditure and Borrowings as at 30 September 2023
Notice No. 2111 of 2023
Statement of National Revenue, Expenditure and Borrowings as at 31 October 2023
Notice No. 2207 of 2023
Statement of National Revenue, Expenditure and Borrowings as at 31 December 2023
Notice No. 2293 of 2024
2024 Statements
Statement of National Revenue, Expenditure and Borrowings as at 31 January 2024
Notice No. 2344 of 2024
Statement of National Revenue, Expenditure and Borrowings as at 29 February 2024
Notice No. 2397 of 2024
Statement of National Revenue, Expenditure and Borrowings as at 31 March 2024
Notice No. 2444 of 2024
Statement of National Revenue, Expenditure and Borrowings as at 30 April 2024
Notice No. 2530 of 2024
Statement of National Revenue, Expenditure and Borrowings as at 31 May 2024
Notice No. 2608 of 2024
Statement of National Revenue, Expenditure and Borrowings as at 31 July 2024
Notice No. 2709 of 2024
Statement of National Revenue, Expenditure and Borrowings as at 31 August 2024
Notice No. 2765 of 2024
Statement of National Revenue, Expenditure and Borrowings as at 30 September 2024 including restatement of revenue figures for July and August 2024
Notice No. 2802 of 2024
Statement of National Revenue, Expenditure and Borrowings as at 30 November 2024
Notice No. 2923 of 2024
Statement of National Revenue, Expenditure and Borrowings as at 31 December 2024
Notice No. 2980 of 2024
2025 Statements
Statement of National Revenue, Expenditure and Borrowings as at 31 January 2025
Notice No. 3026 of 2025
Statement of National Revenue, Expenditure and Borrowings as at 28 February 2025
Notice No. 3103 of 2025
Statement of National Revenue, Expenditure and Borrowings as at 31 March 2025
Notice No. 3172 of 2025
Statement of National Revenue, Expenditure and Borrowings as at 30 April 2025
Notice No. 3258 of 2025
Statement of National Revenue, Expenditure and Borrowings as at 30 June 2025
Notice No. 3402 of 2025
Statement of National Revenue, Expenditure and Borrowings as at 31 July 2025
Notice No. 3466 of 2025
Statement of National Revenue, Expenditure and Borrowings as at 31 August 2025
Notice No. 6691 of 2025
Statement of National Revenue, Expenditure and Borrowings as at 30 September 2025
Notice No. 6769 of 2025
Statement of National Revenue, Expenditure and Borrowings as at 31 October 2025
Notice No. 3660 of 2025
Statement of National Revenue, Expenditure and Borrowings as at 30 November 2025
Notice No. 3718 of 2025
2026 Statements
Statement of National Revenue, Expenditure and Borrowing as at 31 December 2025
Notice No. 3740 of 2026
Statement of National Revenue, Expenditure and Borrowings as at 31 January 2026
General Notice No. 3793 of 2026
Borrowing Powers of Water Boards listed under Schedule 3 Part B of the Act
Borrowing Powers of Water Boards Listed under Schedule 3 Part B of the Act
Notice No. 634 of 2018
Borrowing Powers of Water Boards Listed under Schedule 3 Part B of the Act - Umgeni Water
Notice No. 1097 of 2019
Borrowing Powers of Water Boards Listed under Schedule 3 Part B of the Act - Rand Water
Notice No. 1098 of 2019
Borrowing Powers of Water Boards listed under Schedule 3 Part B of the Act - Mhlathuze Water
Notice No. 709 of 2020
Borrowing Powers of Water Boards listed under Schedule 3 Part B of the Act - Rand Water
Notice No. 710 of 2020
Borrowing Powers of Water Boards listed under Schedule 3 Part B of the Act - Rand Water
Notice No. 628 of 2021
Borrowing Powers of Public Entities Listed under Schedule 3 Part A of the Act
Notice No. 1593 of 2021
Borrowing Powers of Water Boards listed under Schedule 3 Part B of the Act - Mhlathuze Water
Notice No. 2049 of 2022
Borrowing Powers of Water Boards listed under Schedule 3 Part B of the Act
Notice No. 2129 of 2022
Borrowing Powers of Water Boards listed under Schedule 3 Part B of the Act
Notice No. 5044 of 2024
Borrowing Powers of Water Boards listed under Schedule 3 Part B of the Act
Notice No. 5062 of 2024
Borrowing Powers of Public Entities listed under Schedule 3 Part A of the Act
Notice No. 5548 of 2024
Borrowing Powers of Water Boards listed under Schedule 3 Part B of the Act
Notice No. 6413 of 2025
Understanding and Using this Act
Guide for Accounting Officers
Preface
Abbreviations
1. Introduction
2. Vision of the PFMA: performance budgets and accountability
3. Seven immediate steps
4. Reporting and accountability
5. Responsibilities and planning
6. Corporate management and internal controls
7. Revenue, assets and liabilities
8. Expenditure management
9. Transfer payments and conditional grants
10. Cash and banking
11. Miscellaneous
12. Implications for executive authorities
13. The way forward
Annexure A: Exemptions
Annexure B: Reporting formats
Annexure C: Disciplinary procedures
Annexure D: Structure of the PFMA
Annexure E: Glossary
National Treasury Guidelines for Annual Reporting
1. Purpose
2. Background
3. Criteria For Good Reporting
4. Monitoring And Evaluation Systems
5. Contents Of The Annual Report
6. Tabling of the Report in Parliament or the Provincial Legislature
Annexure A: Determining Service Delivery Indicators
In Year Management, Monitoring and Reporting
Foreword
1 Introduction
2 Production & Interpretation of Reports
3 Taking Action
4 Quality Issues
Annexure A: Public Finance Management Act
Annexure B: Accounting Officer's Reporting Responsibilities
Annexure C: A conceptual view of the process
Annexure D: Example of Month-end Procedures (ex Free State Province)
Annexure E1: Financial Management System (FMS)
Annexure E2: Basic Accounting System
Annexure E3: Personnel and Salary Administration System (PERSAL)
Annexure E4: LOGIS
Annexure F: Conditional Grants to Provinces
Normative Measures for Financial Management
Phase 1 : Perfecting the Basics
1. Introduction
2. The need for proper standards of financial management in the public sector
3. Financial management and an approach to managing for results
4. The aim and goals of financial management in the public sector
5. General principles for financial management in the public sector
6. Performance requirements for financial management in the public sector
7. Reporting requirements for financial management in the public sector
8. Critical areas for financial management performance
9. Relationship between the chief financial officer and his or her clients
10. Core competencies and skills required for financial management in the public sec
11. Recommended structure of the Office of the Chief Financial Officer and related d
12. Conclusion
Annexure A : User Manual for applying NMFM
A. Management Arrangements
B. Planning and Budgeting
C. Revenue and Expenditure Management
D. Asset and Liability Management
E. Accounting and Reporting Requirements
Annexure B: User manual for Application of Normative Measures
Introduction
A. Management Arrangements
B. Planning and Budgeting
C. Revenue and Expenditure Management
D. Asset and Liability Management
E. Accounting and Reporting Requirements
Practice Notes
Treasury Practice Note 1 of 2000
Month Closure Procedures, as per requirement of the Public Finance Management Act
Treasury Practice Note 2 of 2000
Capturing and Maintenance of MTEF Budget Allocations
Exemption of National Empowerment Fund
Purchase
Notice No. 6491 of 2025
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