Public Finance Management Regulations – Section 112
(Statutory Instrument 52 of 2023)
Statutory Instrument 52/2023 .. in force 22 May 2023
ARRANGEMENT OF REGULATIONS
PRELIMINARY
PART 1
BUDGET PROCESS
| 3. | Medium-term expenditure framework |
| 4. | Review of budget classification in preparation of budget |
| 5. | Guidelines for draft of the estimates |
| 6. | Preparation of draft of the estimates |
| 7. | Revenue projections |
| 8. | Current and capital expenditure projections |
| 9. | Inclusion of commitments in draft of the est |
| 10. | Supporting statements for draft of the estimates |
| 11. | Inclusion of a new service or programme in the draft of the estimates |
| 12. | Review of the budget |
| 13. | Cabinet decision and notice of second budget circular |
| 14. | Presentation of the Estimates to Parliament |
| 15. | Approval of Appropriation law |
| 16. | Public medium for Estimates |
PART 2
REVISED REVENUE PROJECTION, WARRANTS AND BUDGET REPORTS
| 17. | Revised revenue projection |
| 18. | Signing of warrants |
| 19. | Issue of warrants |
| 20. | Quarterly budget report |
PART 3
FINANCIAL MANAGEMENT SYSTEM
| 21. | Instructions for using the financial management system |
| 22. | Authorization of users of the financial management system |
| 23. | Processing payments using the financial management system |
PART 4
STANDARD OPERATING PROCEDURES FOR FINANCIAL MANAGEMENT
| 24. | Standard operating procedures for financial management |
| 25. | Internal audit control system |
| 26. | Approval of commitments and payments |
| 27. | Assignment to accountable officer to approve cheques and electronic payments |
| 28. | Lost, stolen or damaged negotiable instruments |
| 29. | Payments within a specified period |
| 30. | Monthly creditor analysis |
PART 5
COLLECTION, CUSTODY AND DEPOSIT OF PUBLIC MONIES
Division 1
Collection of Revenue
| 31. | Collection of revenue |
| 32. | Banking of public monies |
| 33. | Recordkeeping |
| 34. | Report on arrears of revenue |
| 35. | Externally financed projects |
Division 2
Receipt of public monies
| 36. | Receipt of public monies |
| 37. | Receipt form |
| 38. | Issue of revenue receipt form |
| 39. | Custody of revenue receipt form |
| 40. | Used revenue receipt form |
| 41. | Checking revenue receipt form |
| 42. | Transfer of revenue receipt form |
| 43. | Stock register of revenue receipt form |
| 44. | Half-yearly return of revenue receipt form |
| 45. | Issue of receipt for collection of revenue |
| 46. | Signing receipts |
| 47. | Payment of money and submission of deposit receipts |
| 48. | Verification of receipts |
| 49. | Alteration of receipts |
| 50. | Cancellation of receipts |
| 51. | Public notice regarding receipts |
| 52. | Lost receipts |
| 53. | Maintenance of cash account |
PART 6
PAYMENT INSTRUMENTS
| 54. | Requirements of payment instruments |
| 55. | Executing a payment instrument |
| 56. | Responsibility when signing |
| 57. | Payment instrument to be certified |
| 58. | Delegation of power to sign or certify a payment instrument |
| 59. | Form of a payment certificate |
| 60. | Payment instrument to be pre-audited |
| 61. | Payment to an individual or legal representative of an individual named in a payment instrument |
| 62. | Lost payment instrument |
| 63. | Payments to be made during financial year |
| 64. | Payment of a charge incurred in a previous financial year |
| 65. | Transfers and subsidies |
| 66. | Withholding a transfer or subsidy |
| 67. | Recovery, disallowance and adjustment of payments |
| 68. | Gift, donation or sponsorship |
| 69. | Irregular expenditure |
| 70. | Unauthorized expenditure |
| 71. | Internal controls |
| 72. | Capturing the budget in the financial management system |
PART 7
SALARIES, WAGES, ALLOWANCES AND RETIRING BENEFITS
| 73. | Payroll |
| 74. | Records to be kept |
| 75. | Authority for payment of salaries, wages and allowances |
| 76. | Unpaid salaries and wages |
| 77. | Salaries, wages and allowances unpaid for more than 3 months |
| 78. | Daily paid workers |
| 79. | Overtime |
| 80. | Computation of wages |
| 81. | Certification of salaries |
| 82. | Delayed claims |
| 83. | Record of retiring benefits |
| 84. | Notice of retirement |
| 85. | Deferred payments of retiring benefits |
PART 8
CASH MANAGEMENT, BANKING, DEPOSIT, REFUND, SET-OFF, WRITE-OFF AND INVESTMENT
Division 1
Treasury Single Account and Bank Accounts
| 86. | Treasury Single Account |
| 87. | Notification of bank accounts |
| 88. | Selection of bank for transacting Government banking business |
| 89. | Reporting on bank accounts |
| 90. | Reconciliation of bank accounts |
Division 2
Cash Management
| 91. | Cash management functions |
Division 3
Imprest
| 92. | Purpose of imprest |
| 93. | Payments from imprest |
| 94. | Accounting for imprest |
| 95. | Imprest cash account |
| 96. | Reimbursement of imprest payment |
| 97. | Retirement of imprest |
| 98. | Duration of responsibility for imprest |
Division 4
Deposit Accounts and Chequing Accounts
| 99. | Payment from deposit account or chequing account |
Division 5
Recovery of unauthorized or incorrect payments
| 100. | Unauthorized or incorrect payment |
| 101. | Steps to recover unauthorized or incorrect payment |
| 102. | Crediting of recovered payments |
Division 6
Cheques drawn on a Bank Account using the Financial Management System
| 103. | Payment by cheque or other forms |
| 104. | Ordering pre-printed cheque forms |
| 105. | Printing of pre-printed cheques |
| 106. | Spoilt cheques printed from the financial management system |
Division 7
Cheque Forms to be drawn on a Bank Account Manually
| 107. | Requirements for pre-printed cheque forms to be drawn manu |
| 108. | Ordering pre-printed cheque forms designed to be drawn manually |
| 109. | Cheque counterfoil |
| 110. | Duplicate cheque copy |
| 111. | Spoilt cheques drawn manually |
| 112. | Taking books of pre-printed cheques apart |
| 113. | Retaining and checking counterfoils or duplicates in used pre-printed cheque books |
| 114. | Duplicate of lost cheques drawn on a bank account |
| 115. | Number of signatures on cheques |
| 116. | Signing cheques |
| 117. | Signing cheques on bank account operated by accountable officer |
| 118. | Computerised cheques |
| 119. | Acceptance of cheques |
| 120. | Cheques to be lodged |
| 121. | Dishonoured cheque |
| 122. | Cheques not to be cashed |
Division 8
Direct Deposit
| 123. | Authorization for direct deposit |
| 124. | Form of direct deposit |
| 125. | Authentication of direct deposit |
| 126. | Suspension or revocation of a direct deposit |
Division 9
Custody of cash, stamp, receipt books and securities keys
| 127. | Security of cash |
| 128. | Control and securing of bonds, securities and agreements |
| 129. | Security of financial instruments |
| 130. | Safekeeping of financial instruments |
| 131. | Issue of keys to a strong room or safe |
| 132. | Security of locks |
| 133. | Responsibility for safe custody of keys |
| 134. | Joint liability for contents of strong room or safe |
| 135. | Lost keys |
| 136. | Repairs and alterations to safe, strong room and lock |
| 137. | Replacement keys |
| 138. | Private monies |
| 139. | Handing over to another public officer |
| 140. | Absence of public officer handing over |
Division 10
Shortages or Loss of Public Monies, Stamps, Securities and Other Financial Instruments
| 141. | Reporting shortages or loss |
| 142. | Loss or irregularity discovered by the Director of Audit |
| 143. | Investigation and recommendations |
| 144. | Accounting for shortages and losses |
| 145. | Write-off of losses |
PART 9
ACCOUNTING STANDARDS, VOTE ACCOUNTING, FINANCIAL INFORMATION, REPORTING AND AUDITING PUBLIC ACCOUNTS
| 146. | Accounting standards |
| 147. | Vote accounting |
| 148. | Charges incurred by a non-government agency |
| 149. | Sufficiency of votes |
| 150. | Review of expenditure |
| 151. | Use of vote balance |
| 152. | Direct charges |
| 153. | Advance and suspense accounts |
| 154. | Availability of financial information |
| 155. | Custody of accounting records |
| 156. | Destruction of accounting records |
| 157. | Reporting |
| 158. | Expenditure review and appropriate action |
| 159. | Financial year and survey of cash and stamps |
| 160. | Method of conducting a survey of cash and stamps |
| 161. | Attendance of accounting officer during a survey of cash and stamps |
| 162. | Suspension of business during a survey of cash and stamps |
| 163. | Survey of cash and stamps exceeding one day |
| 164. | Report on survey of cash and stamps |
| 165. | Preparation of annual financial statements |
| 166. | Closure of monthly accounts |
| 167. | Review of budget classification during budget execution |
| 168. | Accounting in Government Agency |
| 169. | Commitments before the end of financial year |
| 170. | Payment from deposit account |
| 171. | Use of vote balance |
| 172. | Security of financial management system |
PART 10
MONITORING AND INSPECTION
| 173. | Monitoring of performance targets |
| 174. | Inspection of accounts |
PART 11
AUDIT REPORTS
| 175. | Reporting to the Director of Audit |
PART 12
STRATEGIC PLAN AND OPERATIONAL PLAN OF A STATUTORY BODY
| 176. | Preparation of strategic plan |
| 177. | Preparation of operational plan |
PART 13
MISCELLANEOUS