Tristan da Cunha Government Departments

Treasury and Finance Department

The TdC Government treasury and finance department is responsible for managing the government's financial health, cash flow, and risk. The department focuses on liquidity, banking, investments, and risk management (cash management). The department ensures compliance, manages budgeting, accounting, and strategic forecasting. The department secures funding and optimizes capital grants usage from FCDO, RSPB, BLUE BELT and from other key external funders to support various Island projects.
Right: The Administration building, which houses the Treasury and Finance Department

Key Responsibilities of Treasury and Finance Department:

1. Cash Management: Ensuring enough cash is available for daily operations of the Island.
2. Liquidity Management: Investing excess funds, managing short- and long-term liquidity to provide reserves for the future.
3. Banking Relationships: Managing bank accounts, fees, and payments.
4. Financial Reporting: Preparing financial statements and ensuring compliance with regulations.
5. Budgeting and Forecasting: Predicting future financial positions and setting budgets.
6. Internal Controls: Establishing procedures to prevent fraud and maintain security.
7. Compliance and Taxation: Adhering to accounting standards and tax regulations.

Local Island Bank

The treasury and finance department manages a small manual cash-based bank on the Island. The bank accepts deposits and withdrawals from people on the island. It also facilitates international money transfers for the Islanders, expatriates and visitors on the island at a fee of £20 per transfer to anywhere in the world. The Island bank is an important service provider for payment of salaries to Island workers and pensioners.

Foreign Currency Exchange

The Island bank's primary and reporting currency is British Sterling Pound. The bank accepts foreign exchange of major currencies such as American Dollar, Euro and South African Rands just to mention a few.

Bank Swipe Point of Sale Machines

There are bank swipe POS machines that accept Master and Visa Cards. While other services are offered on cash basis, visitors can easily do their purchase transactions on the Island by using their bank credit cards, Master and Visa cards. There is a charge of 10% service fee per transaction for the privilege of enjoying the use of POS services in the world beautiful remotest Island.

Staff Members

The treasury and finance department comprise of the Chief finance officer, Head of Treasury & Finance, Deputy Head of Treasury & Finance, Government Accountants and Bank Cashiers.

Paul Mapasure Chief Finance Officer	Lorraine Repetto Finance Manager/ Head of Treasury	Paula Swain Deputy Finance Manager/Treasury	Samantha Swain Government Accountant
Emma Swain Government Accountant	Sasha Swain Government Accountant	Natalie Swain Bank Cashier	Lynette Green Bank Cashier

Remittances

Payments may be made as follows:

British Sterling Pounds Bank Transfers within the UK

British Sterling Bank Transfers outside the UK

Euro Bank Transfers

South African Rand Bank Transfers