During the early stages of its inception, the Academy is being
supported by the financial resources of the Malta Police Force and the
Ministry of Home Affairs and National Security.
The Academy will finalise the transition towards an independent
financial management system. The aim is to operate as an independent,
autonomous entity as prescribed by law, with its own budgetary
allocation and financial management system.
Infrastructure sharing: The Academy will have an independent
budgetary allocations, but will continue to utilise the financial
systems provided by the government, pertaining to the use of accounting
systems and salaries software.
Transparency and accountability: The Academy has established a
policy of autonomy with full accountability for its actions and
operations, including all activities regarding accounting, purchasing,
salaries, operations, procurement and general financial management. For
this purpose, full reporting on all activities will be established.
Management accounts: The finance section is responsible for issuing
monthly management accounts with full details of income and
expenditure, balance sheets, asset lists, creditors and debtors lists,
cash flow and budgetary control reports.
Budgeting for 2018 and beyond: The budgetary exercise in the first
year will prepare for the increase in operational functionality in the
subsequent years. Budgets for the Academy need to increase substantially
as the organisation moves to autonomous accounting systems and more
educational activities.