History
The Department of Finance and Administration (DoFA) was established under the Financial Management Act of 1979 as the central agency responsible for managing the financial resources of the Federated States of Micronesia. From its creation, DoFA has served as the government’s steward for budgeting, treasury, revenue collection, and international finance, ensuring that public funds are managed lawfully and responsibly.
Over the years, the department has led reforms to modernize financial management, strengthen internal controls, and expand transparency. Today, all major financial activities of the FSM Government — including budget preparation, customs and tax administration, treasury operations, and investment management — are centralized within DoFA. This structure supports accountability, efficient service delivery, and the sustainable use of resources for the benefit of all FSM citizens.