The 52nd Legislature, in 2006, saw the need to address the institutional weaknesses of National Legislature and thereby it into a modern assembly of men and women positively contributing to the reconstruction and development of the country. This effort was aimed at consolidating the peace, the advancement of democracy, rule of law and good governance in the country.
With assistance from International Development Partners (IDPs), the Legislature formulated a Modernization Plan that would make the Liberian Legislature 21″ Century compliant. Pillar 3 Priority Code 1 of the Modernization Plan calls for operationalizing and capacitating the Legislative Budget Office (LBO).
What is the Legislative Budget Office?
The LBO was created by an Act of the Legislature on September 17, 2010 and began operations in May 2011. The bicameral unit is a non-partisan professional technical arm of the Legislature. Its primary function is to provide objective, impartial and professional analyses of the National Budget.
As a non-partisan professional body, the LBO:
The bicameral legislative support office consists of three functional units namely: Revenue, Expenditure and Macro-Economic Analysis. It also has an Information Technology staff.
Revenue Unit: The Revenue Unit conducts research and provides analysis on tax policy, tax measures, revenue estimates, and forecasts.
Expenditure Unit: The Expenditure Unit conducts analysis of government appropriations as against spending and evaluates budget performance by LMA’s.
Macro-Economic Analysis Unit: The Macro-Economic Analysis Unit conducts macro-economic surveys and fiscal impact analyses of legislations.
Information Technology: The IT staff design and format budget analyses and other LBO reports.
Additional Services Provided by the LBO Include:
The LBO provides technical support to the Legislature’s Statutory Committees and other members. The Directors and staff of the LBO have expertise in finance, economics, accounting, budgeting, and public policy administration.