MONROVIA, LIBERIA — The Liberia Electricity Corporation (LEC) has begun preparing its corporate budget for the 2027 fiscal year, as the state-owned utility looks to match its spending plans with operational priorities and electricity service delivery.
Heads of departments, divisions and units gathered at LEC’s Waterside office in Monrovia for the launch of the Fiscal Year 2027 Corporate Budget Preparation Process.
The exercise will determine how the corporation plans and prioritises its financial resources for the coming fiscal year, including funding requirements across its various operational and administrative areas.
During the meeting, Alfred P. K. Cassell, Senior Manager of the Budget Office, and Fomba Konneh of the Division of Strategy and Planning outlined the process managers will be required to follow.
Officials were briefed on the objectives and scope of the budget, the methodology for preparing submissions, key deadlines and milestones, as well as requirements for individual departments and units.
Managers were also told that their submissions should be realistic, properly justified and delivered on time as LEC moves through the different stages of developing its 2027 financial plan.
The meeting included a question-and-answer session, allowing departmental and unit heads to seek clarification before submitting their respective budget proposals.
LEC’s Chief Financial Officer, Adam Sherif, who serves as the Budget Owner, said effective planning, coordination and fiscal discipline would be important in developing a budget that responds to the corporation’s priorities.
Mr Sherif formally launched the exercise on behalf of LEC Managing Director Mohammed M. Sherif, clearing the way for departments to begin their submissions before the budget moves into subsequent review and approval stages.
The budget preparation comes as LEC continues to manage a range of operational and investment priorities, including electricity generation, distribution, maintenance, customer service and efforts to expand and modernise Liberia’s power system.
The final FY2027 corporate budget will therefore be important in determining how the utility allocates resources to those priorities during the next financial year.
GTV ONLINE NEWS | MONROVIA
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