2. Interpretation
In these Regulations —
“Act” means the Public Finance Management Act;
“allocated stores” means stores the cost of which is chargeable directly to a budget classification in keeping with the Act;
“assets” means —
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(a) a financial asset;
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(b) a non-financial asset;
“budget classification” —
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(a) means a systemic coding system for classifying and coding a transaction and event within the budget;
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(b) includes the chart of accounts;
“Budget Director” means a person appointed by the Public Service Commission as the Budget Director;
“budget form” means a data entry tool used by a Government Agency to make a request and to fulfil the requirements of the request;
“budget module” means a tool used in the preparation and compilation of the budget;
“commitment incurred” means a liability in respect of goods, services or works supplied and received by a Government Agency;
“deposit receipt” means a receipt issued by a bank to a depositor for cash and cheques deposited with the bank that specifies the date, time, amount deposited and the account into which the funds are deposited into;
“electronic” means technology having electrical, digital, magnetic, wireless, optical, electromagnetic or similar capabilities;
“expenditure vote” means a sum appropriated to a service under an Appropriation Act;
“externally financed project” means a project that is not funded by means of the Government's recurrent revenue or non–debt capital revenue;
“financial asset” —
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(a) means a non-physical asset;
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(b) includes cash, securities, bank deposits, loans and receivables owned by the Government;
“financial instrument” means a monetary contract between parties that is created, traded, modified, and settled, such as, cash, a share certificate, bond;
“financial statement”, in relation to a financial year, means —
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(a) a statement of financial position;
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(b) a statement of comprehensive income;
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(c) a statement of financial performance;
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(d) a statement of cash flow;
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(e) a statement of borrowings;
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(f) a statement of sinking fund;
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(g) an audited or unaudited quarterly, monthly or annual financial account;
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(h) notes to the statements or accounts referred to under paragraphs (a) to (g); or
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(i) any other prescribed statement or account;
“first budget circular” means the document that provides a guide to each Government Agency of the proposed budget ceiling in preparation of its initial estimates of revenue and expenditure;
“monetary instrument” —
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(a) means a product provided by a bank and any other institution;
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(b) includes a cashier's cheque, traveller's cheque and money order;
“non-financial asset” —
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(a) means an economic asset other than a financial asset;
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(b) includes goods and stores;
“non–taxed revenue” —
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(a) means an increase in Government net worth resulting from a transaction other than tax revenues;
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(b) includes —
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(i) grants,
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(ii) property income,
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(iii) sales of goods and services,
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(iv) fines, penalties and forfeitures,
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(v) miscellaneous and unidentified revenue;
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(c) does not include —
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(i) funds arising from the repayment of previous lending by governments or from borrowing,
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(ii) proceeds derived from the sale of a fixed capital asset, stock, land and an intangible asset,
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(iii) a private gift;
“paying-in-slip” means an outline presented in a bank that is used to deposit money into a bank account that —
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(a) has a counterfoil which is returned to the depositor sealed and signed by the bank officer;
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(b) gives details regarding the date, account number, amount deposited, in cash or cheque, and the name of the account holder;
“public official” means a contract worker;
“Public Sector Investment Programme Framework” means a suite of projects to achieve national development through public investment to advance the policy of the Government;
“Postmaster General” means a person appointed by the Public Service Commission as the Postmaster General;
“revenue receipt” means a receipt authorized by the Accountant General which must be issued on receipt of a payment of money to the Government;
“second budget circular” means the document that provides a guide to a Government Agency, after the decision of Cabinet under regulation 13, with respect to the final budget ceiling in preparation of its estimates of revenue and expenditure;
“stores” includes plant, equipment, machinery, tools and vehicles being the property, in the possession or under the control of the Government;
“strong room or safe” means a fortified room or enclosure designed to protect valuable items against fire, theft or other similar risks;
“suspense account” means —
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(a) a temporary account to hold monies that are not identifiable with a service or purpose; and
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(b) an account created where there is a discrepancy, error or incomplete information regarding a transaction;
“tax revenue” means —
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(a) income tax;
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(b) value added tax;
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(c) a payroll tax;
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(d) a tax on the ownership and transfer of property; and
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(e) any other tax;
“tax” means a compulsory or unrequited payment to the Government;
“Treasury Single Account”, in relation to Government, means a centralised bank account system where deposits and payment transactions are processed for a Government Agency;
“unauthorized expenditure” means —
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(a) overspending of a vote or a main division within a vote; or
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(b) in the case of a vote, expenditure not in accordance with the purpose of the vote;
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(c) in the case of a main division within a vote, expenditure not in accordance with the purpose of the main division;
“unallocated stores” means stores the cost of which is chargeable to a general sub-head of expenditure and which is not charged directly to an appropriate sub-head of expenditure until the stores are issued for specific work, goods or services;
“unexpendable stores” means stores that are not of a consumable nature and have a life assigned which remains on ledger charge, whether in use or in store, until the stores are disposed of, written-off or discarded;
“vote” means one of the main segments into which the Appropriation Act is divided that specifies the total amount which is appropriated for each Government Agency.