(1) If, at any time, it appears to the Director of Finance and Planning that monies or public stores have been lost or damaged, and if, within a period specified by the Director of Finance and Planning an explanation satisfactory to him or her is not furnished by the responsible officer with regard to such loss or damage, the Director shall surcharge against that officer the amount which appears to him or her to be the loss suffered by the Government, or the value of the property lost or damaged as the case may be, or a lesser amount as the Director determines.