FINANCIAL ADMINISTRATION REGULATIONS, 2004
FINANCIAL ADMINISTRATION REGULATIONS, 2004
FOR
FINANCIAL ADMINISTRATION ACT 2003, ACT 654 8th April 2004
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TABLE OF CONTENTS
PART I: CONTROL AND MANAGEMENT OF PUBLIC FUNDS
1. Financial Responsibilities of Public Officers
2. Financial Duties of a Head of Department
3. Accounting Manual
4. Departmental Accounting Instructions
5. Delegation of Financial Duties by Heads of Departments
6. Conformity with Law and Financial Regulations
7. Duty to Report Unsatisfactory Application of Regulations
8. Financial Discipline
9.
Public Funds
10. Classification of Receipts
PART II: PUBLIC FUNDS
11. Custody of Public and Trust Moneys
12. Custodial Responsibility of the Controller and Accountant General
13. Custodial Role of Heads of Departments
14. Opening of Bank Accounts for Public Funds
15. Payments into the Consolidated Fund
16. Non Tax Revenue/Internally Generated Funds (NTR/IGF)
17. Collection and Lodgment
18. Lodgment of Retained IGF
19. Accounting and Disclosure of NTR/IGF
20. Review of Rates, Fees and Charges
21. Non Submission of Reports
22. Payments to be made Gross into Public Funds
23. Responsibility for Collection of Public Funds
24. Ceremonial Receipts
25. Information on Official Receipting Arrangement
26. Hours of Collection
27. Notice of Liability to Pay Revenue
28. Issue of Original Receipt
29. Acceptance of Legal Tender
30. Cheques payable to the Government of Ghana
31. Monetary Instruments Requiring Approval
32. Responsibility for Paying by Monetary Instruments Other Than Cash
33. Controller and Accountant General Department Inspection
34. Authority for Refund
35. Receipts of Trust Moneys to be Lodged in the Consolidated Fund
36. Collections Outside Ghana
37. Disbursements of Public Funds
38. Activities to be Prioritised
39. Responsibility in Respect of Payments
40. Payments to Other Public Institutions
41. Balance of Appropriation
42. Foreign Payments
43. Payees
44. Restriction on Public Officers
45. Recovery of Overpayments
46. Payment Procedures in Times of Emergency
47. Bank accounts for Departments
48. Level of Cash Holdings
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49. Authorised Cash Balances
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50. Determination of Authorised Cash Balances
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51. Excess Cash
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52. Failure to Secure Excess Cash
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53. Private Use of Balances Prohibited
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54. Access of the Auditor General
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55. Right of Access
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PART III: DEPOSITS AND OTHER TRUST MONEYS
56. Trust Moneys
20
57. Loss of Trust Moneys
20
58. Responsibility for Management of Trust Moneys
21
59. Deposit
21
60. Authority for the Collection of Deposits
21
61. Reserve Liability
21
62. Opening a Deposit Account
21
63. Designation of the Deposit Account
21
64. Responsibility of the Deposit Holder
21
65. Deposits to be Paid into the Consolidated Fund
21
66. Unauthorised Deposits
22
67. Time expired Deposits
2E
68. Repayment
22
69. Methods of repayment
22
70. Entitlement to Repayment
22
71. Presentation of Original Deposit Receipt
22
72. Other Identification of Payee
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73. No interest Payable
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74. Closure of Deposit Account
23
75. Subsequent Claims
23
76. Limitation of Claim Period
23
77. Special Fund
23
78. Disbursements of Special Funds
23
79. Accounting for Special Funds
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80. Annual Accounts of Special Fund
23
81. Trust Fund
24
82. Acceptance of a Trust
24
83. Additional Rules
24
84. Trust Fund Investments
24
85. No Charge for Administration
24
86. Annual Accounts of Trust Fund
24
87. Report to Donors and their Successors of Trust Fund
24
88. Sinking Fund
25
89. Authority for Creation of a Sinking Fund
25
90. Administering Authority
25
91. Fund to be Invested
25
92. Payment from a Sinking Fund
25
93. Closing Adjustment
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PART IV: ADVANCES, LOANS AND EQUITY INVESTMENTS FROM THE
CONSOLIDATED FUND
94. Financial Assets of the Consolidated Fund
25
95. Need for Proper Authority
26
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96. 97. 98. 99. 100. 101. 102. 103. 104. 105. 106. 107. 108. 109. 110. 111. 112. 113. 114. 115. 116. 117. 118. 119. 120. 121. 122. 123. 124. 125. 126. 127. 128. 129. 130. 131. 132. 133. 134. 135. 136. 137. 138. 139. 140. 141. 142. 143. 144. 145. 146. 147.
Categories of Public Financial Business Budgetary Control of Advances etc. Chief Authority Need for Prior Agreement Responsibility for Payment General and Specific Authority Authority to administer advances Authorised Maximum of Advances Allowed Responsibility of the Administering Authority Increase of Authorised Maximum Authority to Grant Advances Delegation of Powers to Grant Advances Applications by the Administering Authority Delegation of Administering Authority Records of Advances and Recoveries Responsibility for Recovery Methods of Recovery Deductions from Salary Duty to Report Non Deduction Conditions for Grants of an Advance Recovery on Leaving the Service Transferred Officers Advances Arising from Losses Responsibility for Administration No Authorized Maximum Advances to Contractors Advance Under Contract Authority for Inclusion of Advance Provisions Advance other than Cash Recoveries to be Deducted Statutory Deductions Budgetary Authority Claims for Recovery Annual Reports General or Specific Loans General Classes of Loans Specific Loans Authority to Negotiate a Loan Ratification of a Loan Payment of Loan Failure to Pay Interest or Repay Principal Penalty Borrower's Accounts Statement of Public Accounts Investment Proposals Approval of Investment Responsibility of the Administering Authority Acquisition of Shares Certificate of Shareholding Report to the Minister on Equity Investments Annual Accounts Annual Reports
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148.
149. 150. 151. 152. 153. 154. 155. 156. 157. 158. 159. 160. 161. 162. 163. 164. 165. 166. 167. 168. 169. 170. 171. 172. 173. 174. 175. 176. 177. 178. 179. 180.
181. 182. 183.
184. 185. 186. 187. 188. 189. 190. 191. 192. 193. 194. 195. 196.
Statement of Equity Interests in Annual Accounts PART V: REVENUE AND EXPENDITURE
Authority of the Minister Budget Committees Responsibilities of Budget Committees Budget Circular Budget Instructions Supplementary Instructions by Ministries Departmental Budget Instructions Submission of Budget Proposals Examination of Financial Proposals Provision of Information Consolidated Fund Revenue Estimates Consolidated Fund Expenditure Estimates Budget Hearing Revenue Collections Release of Funds to Meet Expenditure Warrant Provisional Warrant Release of Funds Audit Copies Authority for Other Receipt and Payment Transactions Budgetary Control Warning of Budget Variation Revenue and Expenditure According to the Estimates Virement Revised Budget Estimate Content of Revised Estimates Supplementary Provision for Existing Activities Supplementary Provision for New Activities. Supplementary Provision arising from Increase in Costs of Activities Notification of Revised Estimates Evasion of Expenditure Control Double Spending Reporting Budgetary Progress
PART VI: GOVERNMENT STORES Meaning of Government Stores Governance of Government Stores Financial Management Implications
PART VII: PREPARATION AND AUDIT OF ACCOUNTS Public Accounts Other Government Accounts Basis of Accounts Classification of Public Accounts Monthly Statement of Public Accounts Submission of Monthly Revenue and Expenditure Statements Annual Statement of the Department Annual Statements on the Public Accounts Failure to Provide Financial Statement Closure of Accounts Deletion from the Accounts Financial Year Audit of Accounts
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