Fiscal Agent Services MCA-Sierra Leone
Providing Comprehensive Financial Management, Accounting, and Fund Accountability Services
Challenge
The approximately US$480.7 million Sierra Leone Compact, together with approximately US$14.2 million in Government financial contribution, is designed to advance economic growth and reduce poverty in Sierra Leone. Effective implementation requires strong financial management, disciplined budget and commitment controls, timely disbursement and payment processing, accurate accounting, reliable financial reporting, and robust safeguards over MCC and Government funds. The Fiscal Agent is responsible for managing MCC Funding and the Government Financial Contribution in accordance with the Compact, CDF Agreement, Fiscal Accountability Plan, MCC policies, and applicable requirements. The contract also requires the Fiscal Agent to support the transition to the MCA-MIS, maintain effective internal controls, monitor permitted accounts and tax matters, and provide timely financial information to MCA-Sierra Leone and MCC. The challenge is to provide an integrated, responsive financial management function capable of supporting a large and complex Compact while maintaining transparency, accountability, compliance, and value for money.
Approach
DT Global will provide an integrated Fiscal Agent function based primarily in Freetown, Sierra Leone, working closely with MCA-Sierra Leone, MCC, the Procurement Agent, Implementing Entities, Project Managers, and other stakeholders. The team will manage financial planning and budgeting, establish and maintain appropriate accounting and internal control systems, process authorized payments through the Permitted Accounts and Common Payment System, and verify the eligibility, accuracy, completeness, authorization, and supporting documentation for financial transactions. DT Global will assist MCA-Sierra Leone with the Fiscal Accountability Plan, Detailed Financial Plans, quarterly budgets, cash-flow forecasting, reconciliations, tax monitoring, resettlement payments, audits, and required certifications. The team will establish and maintain an interim financial accounting system and support implementation and migration to the MCA-MIS, which is based on SAP All-in-One. The approach also emphasizes segregation of duties, fraud and corruption prevention, sanctions and eligibility verification, timely reporting, and capacity building for MCA-Sierra Leone and relevant Implementing Entity staff.
Goals and Results
DT Global’s goal is to provide MCA-Sierra Leone with a reliable, transparent, and accountable financial management function that supports efficient implementation of the Compact and protects the proper use of MCC and Government funds. Key results will include timely processing of authorized payments; accurate accounting and bank reconciliations; effective budget, commitment, and cash-flow monitoring; and regular production of monthly, quarterly, semi-annual, and annual financial reports. The Fiscal Agent will maintain Fund Accountability Statements, commitments and expenditure reports, cash-flow statements, trial balances, budget execution reports, vendor reports, tax-aging reports, IT-control tracking, payroll monitoring, and other reports required by MCA-Sierra Leone and MCC. The team will also support the implementation of the MCA-MIS, including testing, training, data migration, and verification of the SAP User Access Management Guide. Additional results will include stronger financial controls, audit readiness, transparent resettlement payments, monitoring of tax exemptions and refunds, and strengthened capacity of MCA-Sierra Leone and relevant stakeholders to manage Compact resources effectively.