PUBLIC FINANCE MANAGEMENT ACT: SUBSIDIARY LEGISLATION

(2) Despite sub-regulation (1), where it is not expressly stated, these Regulations apply to a state owned enterprise or local authority with necessary modifications.

3. Interpretation

In these Regulations, unless the context otherwise requires-

"accounting authority" means a chief executive officer of a state owned enterprise or local authority appointed by the controlling body or a relevant commission to oversee the management and control of the day to day operations of a public body;

"accounting unit" means a section established and maintained by the Secretary to the Treasury or controlling body to provide an accounting service to a public body;

"accounting service" means a financial service provided by an accounting unit;

"advance" has the meaning assigned to the word in the Act;

"appropriation-in-aid" has the meaning assigned to the word in the Act;

"below the line account" means a suspense account which includes an advance, deposit, imprest, remittance and special fund;

"Consolidated Fund" has the meaning assigned to the word in the Constitution;

"council" has the meaning assigned to the word in the Constitution;

"emoluments" has the meaning assigned to the word in the Constitution;

"financial misconduct" has the meaning assigned to the word in the Act;

"financial year" means a period of 12 months ending on 31st December of each year;

"internal auditor" means a person appointed as an internal auditor under the Act;

"judge" has the meaning assigned to the word in the Constitution;

"judicial officer" has the meaning assigned to the word in the Constitution;

"local authority" has the meaning assigned to the word in Constitution;

"National Archives" has the meaning assigned to the word in the National Archives Act;

"public body" has the meaning assigned to the word in the Act;

"public service" has the meaning assigned to the word in the Constitution;

"receipt form" includes a general receipt, licence, permit, certificate, disc, token or any other document used in the collection of revenue or other money;

"relevant authority" includes the Auditor-General, Accountant-General, controlling officer or Controller of Internal Audit;

"revenue collector" means an office holder, not being an accounting officer, appointed by a controlling body charged with the duty of collecting any type of revenue accruing to a public body;

"revoked Regulations" means the Financial Regulations, 2006;

"safe" means a secure container provided by Government in which public monies, articles and accountable documents are kept;

"Secretary to the Treasury" means a person appointed as Secretary to the Treasury under the Constitution;

"strong room" means a secured room where public funds, public monies, public stores, receipt forms and safes are kept;

"sub-head" means a department or programme under a head of revenue and expenditure appropriated by the National Assembly;

"subwarrant holder" means an office holder to whom authority to control public resources for a public body is delegated by a warrant holder of a head of revenue and expenditure provided for in any financial year, as appropriated by Parliament or a controlling body;

"third party payment" means deductions from payments on behalf of individuals, agencies and other institutions as a result of contractual or statutory obligations;

"Treasury Single Account" has the meaning assigned to the word in the Act;

"unsettled transaction" means a transaction that is successfully processed electronically but has not been credited to an intended beneficiary's bank account;

"variation of estimates" means movement of the budget provisions from one expenditure item to another within or across an appropriation;

"variation of funds" means movement of disbursed funds, cash variation, from one expenditure item to another within a head of expenditure;

"wasteful expenditure" has the meaning assigned to the word in the Act; and

"warrant holder" means a controlling officer or accounting authority to whom authority has been given to control public resources of a head of revenue and expenditure provided for in any financial year, as appropriated by Parliament or a controlling body.

PART II
MANAGEMENT OF PUBLIC FINANCES

4. Functions of accounting authority

(1) Subject to the direction of a controlling body, the functions of an accounting authority are to-

(a) provide for the proper financial management and expenditure of public monies under a state owned enterprise or local authority relating to-

(i) public monies collected, received or disbursed; and

(ii) public stores, assets received, held or disposed of by or on behalf of the state owned enterprise or local authority;

(b) ensure that a state owned enterprise or local authority maintains-

(i) effective, efficient and transparent systems of financial and risk management and internal control;

(ii) a system of internal controls complying with and operating in accordance with the Act and guidelines;

(iii) an appropriate procurement and provisioning system which is fair, equitable, transparent, competitive and cost-effective as provided in the Public Procurement Act, 2008; and

(iv) a system for properly evaluating major capital projects prior to a final decision on the project;

(i) collect revenue due to the state owned enterprise or local authority;

(ii) prevent irregular or wasteful expenditure, misapplication of funds, losses resulting from criminal conduct and expenditure for not complying with these Regulations, the Act and any other written law; and

(iii) manage available working capital efficiently and economically;

(d) manage and safeguard assets and for the management of the revenue, expenditure and liabilities of a state owned enterprise or local authority;

(e) take effective and appropriate disciplinary steps against an employee of a state owned enterprise or local authority who-

(i) contravenes or fails to comply with the provisions of the Act;

(ii) commits an act which undermines the financial management and internal control system of a state owned enterprise or local authority; or

(iii) makes or permits irregular or wasteful expenditure or misapplication of funds;

(f) submit reports, returns, notices and other information that may be required by the Act or any other written law of a state owned enterprise or local authority to the National Assembly, the Auditor-General and the Treasury; and

(g) ensure that a state owned enterprise or local authority complies, with the provisions of the Act and any other written law.

(2) Where a state owned enterprise or local authority uses an electronic financial management information system, an accounting authority shall ensure that the system conforms with the relevant provisions of the Information and Communications Technology Act, 2009, and the Electronic Communication and Transactions Act, 2009.

(3) An accounting authority shall, on approval by the Secretary to the Treasury, design and implement a financial management information system.

5. Role of controlling body in management of public finances in state owned enterprise or local authority

(1) Subject to the Constitution and the Act, a controlling body in a ministry in charge of a state owned enterprise or local authority may-

(a) request information or reports from a state owned enterprise or local authority on matters of public finance management; and

(b) in consultation with the Secretary to the Treasury, request for a special audit to be undertaken for a state owned enterprise or local authority.

(2) Despite sub-regulation (1), where a controlling body of a state owned enterprise or local authority commits financial misconduct or fails to provide the required information or perform any financial duties assigned under the Act, the controlling officer shall recommend to the Secretary to the Treasury that necessary action be taken against the controlling body in accordance with sections 49 and 51 of the Act.

6. Prohibition of disclosure of information without approval

(1) A controlling officer who, in the course of the controlling officer's duties, receives a request for information, shall not disclose that information without the authorisation of the Secretary to the Treasury.

(2) The Secretary to the Treasury may refuse to authorise the disclosure of information by a controlling officer under sub-regulation (1) where the Secretary to the Treasury considers that the disclosure of the information may-

(a) prejudice the security, defence or international relations of the Republic or the investigation or detection of offences; or

(b) involve the disclosure of any matters or deliberations of a secret or confidential nature of the Cabinet.

(3) A decision of non-disclosure of information made in accordance with sub-regulation (2) shall be final.

PART III
MANAGEMENT OF ACCOUNTING UNITS

7. Head of accounting unit

A head of an accounting unit shall ensure prudent and accountable management of financial resources.

8. Accounting officer

In addition to the responsibilities under the Act, an accounting officer shall-

(a) provide a reconciled daily cash balance for accounts under their charge;

(b) account for receipts and disbursements of public monies in accordance with the Act and these Regulations;

(c) ensure that proper arrangements are made for the safekeeping of public monies, securities, revenue counterfoil receipts, licences, warrants and all forms of requisitions;

(d) collect and receipt public monies in a timely manner;

(e) bring to account, under the correct head and sub-head, public monies collected by, or paid to, an accounting officer in a timely manner;

(f) undertake a reconciliation of accounts held under that accounting officer's charge at least once in a month;

(g) bring to account public monies in cash in the accounting officer's charge in excess of the balances shown in the cash book;

(h) rectify any shortage in cash in the custody of the accounting officer;

(i) verify that disbursements made or incurred by the issue of payment vouchers, order warrants, requisitions or any other documents are properly authorised;

(j) where documents are authorised by a warrant holder or subwarrant holder, charge in the accounts under the proper head or accounting allocation of expenditure;

(k) ensure the control of the funds warranted to a controlling body and maintain a record of commitments incurred;

(l) prepare and dispatch in a timely manner financial statements and returns to a relevant authority;

(m) ensure that books of account are correctly posted and regularly updated;

(n) report to the controlling body an apparent defect in the procedure of revenue collection, an apparent waste or excessive expenditure which comes to the accounting officer's knowledge in the officer's course of duty or otherwise;

(o) produce, on the request of the Secretary to the Treasury or any other relevant authority, any books and records or accounting documents in the custody of the accounting officer;

(p) respond, in a timely manner, to an observation or query received from the Secretary to the Treasury or any other relevant authority;

(q) effectively supervise an officer under the accounting officer's authority and maintain effective controls to prevent fraud and irregular expenditure;

(r) report to the controlling officer-

(i) where it is envisaged that the expenditure shall exceed the authorised limits of a sub-head or programme;

(ii) a delay or under collection of revenue for which the accounting authority is responsible;

(iii) an advance or imprest account which the accounting officer is unable to clear at the time that it should be cleared;

(iv) a deposit account which has become dormant; and

(v) a weakness in the accounting system employed, or in the internal checks applied to accounting transactions;

(s) sign off accounts, management reports, financial statements, or any component of the work submitted to the supervising officer or any other officer as input to the financial report of the Republic; and

(t) initiate disciplinary action against a subordinate officer in accordance with the existing procedures.

9. Head of accounting unit for local authority

The functions of the head of accounting unit of a local authority are to-

(a) develop an efficient system for the receipt and disbursement of monies paid to, or payable by, the local authority;

(b) keep books of accounts in accordance with the Local Government Act, 2019;

(d) report to the accounting authority any likely overspending on a head or sub-head;

(e) identify and deal with any-

(i) delays and under collection of revenue;

(ii) advance or imprest which is not cleared at the time that the revenue, advance or imprest should have been cleared;

(iii) deposit account which has become dormant; and

(iv) weakness in the accounting system employed, or internal checks applied to accounting transactions;

(f) account for receipts and disbursements of public monies in accordance with these Regulations;

(g) ensure the proper financial management of public monies, securities, stamps, stamp duties, revenue counterfoil receipts, licences, warrants and all forms of requisition;

(h) collect in a timely manner all revenue and other public monies due and payable to the local authority;

(i) bring to account in a timely manner monies collected by, or paid to, a local authority under the correct sub-head;

(j) bring to account in a timely manner any revenue in cash or stamps, found in possession of a local authority in excess of the balance shown in the cash book or stamp register;

(k) rectify any shortage in cash or stamps within the head of the accounting unit's charge;

(l) ensure that disbursement made or incurred by the assurance of a payment voucher, order, warrant, requisition or any other document, is authorised;

(m) charge in the accounts, under the proper heads of accounting, any expenditure when it occurs;

(n) cause to be maintained a record of expenditure incurred by a head of department of the local authority;

(o) prepare financial statements, budget estimates, annual accounts and returns as required by the Minister responsible for local government, Secretary to the Treasury, accounting authority or any other relevant authority;

(p) keep proper books of account relating to the local authority;

(q) identify and address a defect in the procedure for revenue collection and wasteful expenditure;

(r) produce, on the request of the local authority or an external auditor, books of accounts and records or other accounting documents;

(s) respond to any queries received from an external auditor or the local authority;

(t) put in place strict measures to ensure efficient precaution against fraud;

(u) notify a head of a department of a local authority of financial misconduct by an officer of the local authority; and

(v) ensure that insurable risks of the local authority are covered by an adequate insurance policy.

10. Appointment and functions of revenue collector

(1) A controlling body may appoint a revenue collector to receipt revenue accruing to a public body.

(2) Despite the generality of sub-regulation (1), the functions of a revenue collector are to-

(a) collect, receipt and post revenue received by a public body as fees or other public money, to appropriate accounts;

(b) map and identify revenue sources of a public body;

(d) verify deposit before issuance of a receipt;

(e) sort and post payments received by post or electronic mail or other means;

(f) prepare daily, weekly and monthly revenue reports for each collection stream; and

(g) keep and maintain a register of accountable documents in the revenue collector's custody.

11. Claim of irregular payment

(1) An accounting officer shall refer to the controlling officer an irregular claim, or any claim with doubtful validity and any claim in respect of expenditure which is not provided for in the approved estimates.

(2) Where an accounting officer receives an instruction from a controlling officer to incur irregular expenditure, the accounting officer shall advise the controlling officer in writing of the irregularity of the proposed expenditure.

(3) Where, the controlling officer gives an instruction, in writing, to an accounting officer to pay disregarding the advice given under sub-regulation (2) by an accounting officer, a payment may be made or accepted by the accounting officer, but responsibility for the payment shall rest with the controlling officer, who shall be held personally or severally liable.

(4) An accounting officer shall, after payment is made under sub-regulation (3), in writing, inform the Secretary to the Treasury, the Auditor-General and the Accountant General of the circumstances under which that payment is made.

12. Erasures in accounts

(1) An office holder shall not make an erasure in the books of accounts.

(2) An office holder shall, make a correction-

(a) by striking out the incorrect figures and writing the correct figures above the figure that has been struck out; and

(b) in a manner that the original figures are still legible.

(3) An office holder shall when making a correction under this regulation, initial against that correction.

(4) An office holder shall not, where an electronic financial management system is in place, make an amendment to an electronic document that is approved for payment by a head of accounting without the authority of the head accounting unit.

(5) An office holder shall not make an alteration to figures which have already been audited.

13. Register of mail payment

An accounting officer shall maintain a register of post and electronic mail payments for the purposes of recording details of remittances received.

14. Approval of accounting systems and forms

(1) The Secretary to the Treasury shall approve the procedures and systems, including the introduction and use of forms for control of expenditure and revenue of a public body.

(2) A controlling body of a public body other than a ministry, province or Government agency shall approve the procedures and systems, including the introduction and use of forms for control of expenditure and revenue of that body.

(3) An accounting officer shall maintain books of accounts in accordance with the existing procedures and accounting guidelines.

15. End of year transactions

(1) A payment relating to a particular financial year shall be paid within that financial year before accounts are closed.

(2) An unsettled transaction that is reversed after the end of the financial year shall be handled in accordance with section 31(1) of the Act.

(3) A controlling body shall, in the case of multiyear pre-funded capital projects, ensure a supplementary budget is approved by the National Assembly before spending carry over funds in the following financial year.

(4) A claim received before the last day of the financial year shall be paid before the accounts are closed.

(5) Any money received before the end of the financial year shall be brought to account before accounts are closed.

(6) A controlling officer who fails to comply with this regulation commits an offence.

16. End of year accounting procedures

(1) A controlling body shall ensure that returns are submitted within the stated period.

(2) Subject to sub-regulation (1), the procedure to be followed by an accounting unit at the close of the financial year are as follows-

(a) the accounts shall be closed in accordance with generally accepted accounting principles, except that supplementary accounts shall be opened by an accounting unit for the purpose of-

(i) adjusting misallocations;

(ii) transferring revenue and expenditure to another accounting unit; and

(iii) final entries on the closing of the accounts;

(b) any revenue or expenditure, whether recurrent or capital, which appears in the accounts of one accounting unit but is controlled by another shall be duly transferred;

(c) revenue and expenditure controlled by an accounting unit shall appear in the accounts of that unit for clearance to the surplus and deficit account maintained in the books of the Ministry responsible for finance according to the procedure outlined in paragraph (a);

(d) the final closing of an account shall be made not later than one month after the last day of the financial year;

(e) an accounting unit shall, immediately after the final closing of the accounts, transfer items of recurrent and capital revenue and expenditure to the surplus and deficit account in the books of the Ministry responsible for finance;

(f) the final control balance for each accounting unit shall only reflect the balances outstanding on below the line accounts;

(g) financial statements, balance sheets and accounts shall be duly signed by a controlling officer; and

(h) foreign currency cash balances shall be translated into the local currency using the spot rate on the closing date for each financial year.

(3) The Secretary to the Treasury may, at the end of a financial year, in addition to the procedures under sub-regulation (2) develop procedures on the closure of accounts.

(4) Despite sub-regulations (1), (2) and (3), a public body other than a ministry, province and Government agency, shall follow end of year accounting procedures as stipulated in either international financial reporting standards or international public sector accounting standards, as the case may be.

17. Maintenance of accounting records

(1) The following accounting records shall be maintained for the following periods-

(a) main cash books and ledgers, 10 years;

(b) receipts of all types, 10 years;

(d) staff establishment and salary records required for pension and superannuation purposes, 60 years from the date on which a pensionable officer leaves the service; and

(e) accounting records in electronic form, 10 years.

(2) The accounting records under sub-regulation (1) shall be transferred to the National Archives at the end of the period specified in sub-regulation (1).

18. Internal auditor

An internal auditor shall, in addition to the functions under the Act, ensure that-

(a) the work entailed in the receipt and payment of public money has been properly carried out under proper supervision;

(b) internal control measures, risk management, matters of governance and other procedures are adequate for the proper application of sound economic, effective and efficient management of public funds;

(c) safeguards for the prevention or prompt detection of fraud or loss of stores, cash or other Government assets, are adequate;

(d) accounting forms are properly protected, recorded and regularly checked;

(e) the system for checking of computer input and output are effective;

(f) the system for the control of the receipt, issue and use of stores is adequate;

(g) recording of the assets is up to date and correct;

(h) returns of revenue or expenditure required by a controlling officer are correctly prepared and promptly submitted; and

(i) monthly progress reports are submitted to the Secretary to the Treasury and the respective controlling body.

19. Reporting by internal auditor of state owned enterprise or local authority

An internal auditor of a state owned enterprise or local authority shall-

(a) report to the accounting authority administratively and to the audit committee of the state owned enterprise or local authority functionally; and

(b) submit reports to the audit committee and the accounting authority and the report shall be copied to the Secretary to the Treasury, the Auditor-General, Accountant-General and Controller of Internal Audit.

20. Controlling officer not relieved of responsibility

The existence of an internal audit team in a public body shall not relieve a controlling officer or any other accounting officer of the individual responsibilities.

PART IV
ESTIMATE OF REVENUE AND EXPENDITURE

21. Form of estimates for a ministry, province and Government agency

The estimates of revenue and expenditure for a ministry, province and Government agency laid before the National Assembly shall indicate-

(a) the total estimated revenue with its sources that is anticipated to be raised during the financial year;

(b) the total expenditure under the head of expenditure in respect of which a controlling officer is designated;

(d) any recurrent expenditure estimates for personal emoluments supported by details from the establishment register for posts which shall be considered part of the estimates and shall show the number of posts, grades and salary scales that have been costed in the estimated amount; and

(e) the total estimated expenditure showing in respect of each capital project.

22. Form of estimates for local authority

A local authority shall, submit to the controlling body the estimates of capital and recurrent expenditure for the local authority for approval which shall include-

(a) the total estimated revenue with its sources that is anticipated to be raised during the financial year;

(b) the total estimated expenditure for each capital project;

(d) items of expenditure for each sub-head of recurrent expenditure.

23. Preparation of estimates in a local authority

The annual estimates of revenue and expenditure for a local authority shall be prepared in accordance with the guidelines issued by the controlling body.

24. Local authority estimates for capital expenditure

A local authority's estimates for capital expenditure shall include projects for which financing is included in the annual Appropriation Act or shall be financed from the local authority's resources.

25. Approval of estimates by local authority

A local authority shall submit to the controlling body, for approval, the estimates of revenue and expenditure not later than three months before the commencement of the next financial year.

26. Supplementary budget by local authority

(1) A controlling body shall, on application by an accounting authority, approve a supplementary budget where the budget provision is inadequate to meet the expenditure on a sub-head.

(2) An application made under sub-regulation (1) shall indicate the corresponding savings from any other sub-head of expenditure or evidence that the additional expenditure shall be met from an overall additional income.

27. Revenue estimates for local authority

(1) A local authority shall set annual revenue estimates for each revenue generating unit under its charge.

(2) A head of a revenue generating unit shall be responsible for ensuring that the set estimates are attained.

(3) A head of the revenue generating unit shall, in consultation with a head of an accounting unit, where the set estimate of revenue is not attained, within 30 days of establishing the under collection, inform the Finance Committee of the local authority, the reasons for the under collection.

(4) A local authority shall, where there is an under collection in revenue, review and restrict the expenditure of that revenue generating unit to match the available revenue.

28. Appropriation

Subject to the Constitution, a warrant issued by the President shall be limited to the approved estimates specified in the annual Appropriation Act, Supplementary Appropriation Act and Excess Expenditure Appropriation Act.

29. Prevention of wasteful expenditure

An office holder shall apply due diligence in the performance of duties for the purposes of preventing wasteful expenditure.

30. Variation of disbursed funds

The Secretary to the Treasury may, on the request of a controlling officer or controlling body, execute a variation of funds disbursed to a public body.

31. Variation of estimates

(1) Subject to the Constitution and the Act, variation of estimates shall be within the appropriation under the following conditions-

(a) a variation of estimates within a programme shall be authorised by controlling officers based on the threshold approved by the Secretary to the Treasury;

(b) a variation of estimates from one programme to another shall be approved by the Secretary to the Treasury; and

(c) a variation of estimates from one head or sub-head to another head or sub-head shall be done through a supplementary appropriation by the National Assembly.

(2) Despite sub-regulation (1), variation of estimates shall not be made to move estimates from-

(a) appropriation-in-aid sub-head to a non-appropriation-in-aid sub-head;

(b) personal emoluments to recurrent expenditure;

(3) A variation under sub-regulation (1), shall be made if the variation-

(a) does not negatively affect the delivery of output targets from the varied head or sub-head; and

(b) made does not result in the increase of the total annual appropriation for a particular head of revenue and expenditure.

(4) A variation made to the estimates of revenue shall be communicated to the National Assembly either as part of the supplementary estimates of expenditure or as a separate information memorandum.

32. Submission of supplementary budget request by ministry, province and Government agency

A ministry, province and Government agency may submit supplementary budget requests to the Ministry responsible for finance where-

(a) the budget provision is inadequate to meet the expenditure on a sub-head or programme;

(b) there is need to account for sundry receipts as a result of unspent cash balances from the previous financial year;

(d) there is need to vary estimates of revenue and expenditure across sub-heads or programmes.

33. Excess expenditure

(1) Subject to the Constitution, excess expenditure shall be incurred where there is an urgent need and that expenditure is not appropriated in that financial year.

(2) Funds to incur the excess expenditure shall be drawn from the consolidated fund on the President signing and issuing a warrant authorising the withdraw.

(3) Subject to sub-regulation (2), the warrant issued shall be submitted to the National Assembly for approval within 48 hours of the commencement of the next sitting of the National Assembly.

(4) Where Parliament is not sitting, the Minister shall cause the funds withdrawn and expenditure incurred be submitted to the National Assembly once it resumes sitting.

(5) Subject to the Constitution and the Act, the excess funds withdrawn and incurred shall be appropriated by Parliament through an Excess Expenditure Appropriation Act within that financial year.

(6) Subject to sub-regulation (5), where it is not practicable to enact the Excess Appropriation Act within the financial year, the Minister shall cause the enactment of the Excess Expenditure Appropriation Act during the first sitting of the National Assembly after the end of the preceding year.

34. Copies of warrant and treasury authority to be sent to Auditor-General

The Secretary to the Treasury shall send to the Auditor-General a copy of a warrant issued by the President under Article 203(4) and treasury authority issued in accordance with the Act and these Regulations as soon as practicable after their issue.

35. Expiry of treasury authority

An authority granted by the Secretary to the Treasury to a public body to incur expenditure under the recurrent estimates shall expire on the last business day of the financial year to which the authority relates.

36. Prohibition of setting aside budget releases

A ministry, province and Government agency shall not draw and place on deposit, a budget release during the year for the purpose of setting aside funds as a reserve to meet payments in the next financial year.

37. Appropriation-in-aid

(1) The Secretary to the Treasury shall approve the level of appropriation-in-aid for a public body based on the revenue generated by that public body.

(2) An Appropriation Act shall provide, in each financial year an appropriation-in-aid approved by the Secretary to the Treasury for a public body under sub-regulation (1).

(3) A public body that receives an appropriation-in-aid shall, on a quarterly basis, submit funding profiles to the Accountant-General.

(4) The Treasury through the Accountant-General shall ensure that appropriation-in-aid is released to approved public bodies in line with approved profiles.

(5) A public body which receives an appropriation-in-aid shall utilise the funds on a revenue generating programme or activity.

(6) A public body which receives an appropriation-in-aid shall, not later than three days after the end of the month of reporting, submit to the Accountant-General monthly revenue and expenditure returns.

(7) Where a public body which receives an appropriation-in-aid fails to meet set revenue targets as appropriated by Parliament, that public body shall furnish the Secretary to the Treasury a report indicating reasons for that failure.

(8) The Secretary to the Treasury may, where the reasons provided by a public body for failure to meet set revenue targets are not satisfactory, surcharge a warrant holder or subwarrant holder for failure to perform.

38. Bank balances at end of financial year

The Treasury shall treat unspent balances recalled to the Consolidated Fund at the end of the financial year, as sundry receipts in the following financial year.

PART V
ACCOUNTING FOR PUBLIC ASSETS AND LIABILITIES

39. Accounting for public assets and liabilities

(1) The Accountant-General shall issue guidelines relating to management of public assets and liabilities for a public body.

(2) Despite sub-regulation (1), a controlling body of a state owned enterprise shall be responsible for development of effective asset management policies and accounting systems for public assets and liabilities under its charge.

40. Maintenance of asset register

(1) A head of an accounting unit shall keep and maintain a register of public assets and liabilities of a public body.

(2) A head of accounting unit of a public body shall submit to the Accountant-General a quarterly report of public assets and liabilities in its charge.

(3) A head of accounting unit of a public body who fails to comply with this regulation commits an offence.

41. Insurance of public assets

(1) A public body shall insure public assets with an insurance company registered under the Insurance Act, 1997.

(2) Despite sub-regulation (1), the Secretary to the Treasury shall determine the types of asset whose insurance is mandatory.

(3) A public body shall ensure that-

(a) an adequate budget provision is made for the insurance of public assets; and

(b) public assets are insured at reasonable value to avoid loss to Government.

42. Disposal of public assets to employee or member of a controlling body for a public body

(1) Subject to the Act and this regulation, public assets may be disposed of to an employee or member of a controlling body for a public body.

(2) The following conditions for disposal of public assets to an employee or controlling officer of a ministry, province or Government agency shall apply-

(a) revaluation of the public asset by a department responsible for valuation of Government assets and approval of the value by the Secretary to the Treasury;

(b) the need to dispose of a public asset to an employee or controlling officer of a ministry, province or Government agency is necessitated by the terms and conditions of service of a particular office holder.

(3) Subject to the Act, a controlling body for a local authority, statutory corporation or statutory enterprise shall be responsible for putting in place an effective and transparent system of disposing public assets to employees or member of a controlling body.

PART VI
CONTROL OF EXPENDITURE AND PAYMENTS

43. Chargeable expenditure

A controlling officer as head of expenditure shall-

(a) incur expenditure for a financial year as authorised by a warrant issued by the Treasury for funds appropriated for that financial year; and

(b) the warrant issued in sub-regulation (a) shall not be deferred to the following financial year.

44. Authority to spend

(1) Subject to the Constitution, expenditure may be incurred on approved estimates of revenue and expenditure by a warrant holder on-

(a) treasury authority or a warrant issued by the Secretary to the Treasury to a controlling body; or

(b) a warrant issued by a warrant holder to a subwarrant holder.

(2) Despite sub-regulation (1), authority to incur expenditure for funds not appropriated by Parliament shall be approved by the-

(a) controlling body for a state owned enterprise; or

(b) Minister responsible for local government for a local authority.

45. Responsibility of office holder signing requisitions and stores orders

(1) An office holder signing requisitions and stores orders shall-

(a) ensure that proper authority exists for the expenditure being incurred; and

(b) in the case of passenger fares, ensure that the office holder in respect of whom a requisition has been obtained is entitled to the fare quoted in the requisition and that all appropriate concessions are claimed.

(2) Where excess expenditure is incurred as a result of a failure to observe the provision of these Regulations, the office holder who signed the requisition or stores order shall be surcharged for the amount over spent.

46. Suppliers"™ invoices

(1) A payment voucher relating to purchases shall be supported by a purchase order, the supplier's invoice and proof of delivery or performance.

(2) A payment shall not be made on statements of account only.

(3) A purchase requisition for local supplies shall not be issued in arrears if goods have already been supplied.

(4) Despite sub-regulation (3), where goods are supplied before a purchase requisition is issued, the responsible officer shall certify the payment voucher giving reasons for the failure to issue a requisition before the goods are supplied.

47. Misplaced or lost invoice

(1) Where an original invoice has been misplaced or lost, a certified duplicate invoice shall be obtained from the supplier and clearly marked "copy invoice".

(2) An office holder shall, where the office holder is satisfied that payment after account has not been made, record a certificate of non-payment on the payment voucher.

(3) Where a misplaced invoice is found after payment on a certified duplicate invoice, the original invoice shall be attached to the payment voucher and shall form part of the supporting documents.

48. Misplaced requisition form

(1) Where an original requisition form is misplaced a duplicate requisition form shall not be issued.

(2) A payment shall be made against the supplier's copy of an invoice which shall be endorsed with the serial number of the requisition form against which the supply of goods or services was made.

49. Details on payment voucher

(1) A payment voucher shall be completed with details indicating coding allocations, date, serial number, quantity, rate, authority and any other relevant description.

(2) A person initiating payment in an electronic system shall ensure that the payment has correct details that include bank details, payment method, account number, bank key, swift code and the right payee.

50. Responsibility of person signing payment voucher

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PUBLIC FINANCE MANAGEMENT ACT: SUBSIDIARY LEGISLATION

INDEX TO SUBSIDIARY LEGISLATION

Public Finance Act (Commencement) Order

Public Finance Management Act (Commencement) Order

Public Finance Management (General) Regulations

PUBLIC FINANCE ACT (COMMENCEMENT) ORDER

[Section 1]

Arrangement of Paragraphs

Paragraph

1. Title

2. Commencement of Act No. 15 of 2004

SI 27 of 2005.

1. Title

This Order may be cited as the Public Finance Act (Commencement) Order, 2005.

2. Commencement of Act No. 15 of 2004

The Public Finance Act, 2004, shall come into operation on dated of publication of this Order.

PUBLIC FINANCE MANAGEMENT ACT (COMMENCEMENT) ORDER

[Section 1]

Arrangement of Paragraphs

Paragraph

1. Title

2. Commencement of Act No. 1 of 2018

SI 42 of 2018.

1. Title

This Order may be cited as the Public Finance Management Act (Commencement) Order, 2018.

2. Commencement of Act No. 1 of 2018

The Public Finance Management Act, 2018, shall come into operation on the date of publication of this Order.

PUBLIC FINANCE MANAGEMENT (GENERAL) REGULATIONS

[Section 90]

Arrangement of Regulations

Regulation

PART I
PRELIMINARY PROVISIONS

1. Title

2. Application

3. Interpretation

PART II
MANAGEMENT OF PUBLIC FINANCES

4. Functions of accounting authority

5. Role of controlling body in management of public finances in state owned enterprise or local authority

6. Prohibition of disclosure of information without approval

PART III
MANAGEMENT OF ACCOUNTING UNITS

7. Head of accounting unit

8. Accounting officer

9. Head of accounting unit for local authority

10. Appointment and functions of revenue collector

11. Claim of irregular payment

12. Erasures in accounts

13. Register of mail payment

14. Approval of accounting systems and forms

15. End of year transactions

16. End of year accounting procedures

17. Maintenance of accounting records

18. Internal auditor

19. Reporting by internal auditor of state owned enterprise or local authority

20. Controlling officer not relieved of responsibility

PART IV
ESTIMATES OF REVENUE AND EXPENDITURE

21. Form of estimates for a ministry, province and Government agency

22. Form of estimates for local authority

23. Preparation of estimates in a local authority

24. Local authority estimates for capital expenditure

25. Approval of estimates by local authority

26. Supplementary budget by local authority

27. Revenue estimates for local authority

28. Appropriation

29. Prevention of wasteful expenditure

30. Variation of disbursed funds

31. Variation of estimates

32. Submission of supplementary budget request by ministry, province and Government agency

33. Excess expenditure

34. Copies of warrant and treasury authority to be sent to Auditor-General

35. Expiry of treasury authority

36. Prohibition of setting aside budget releases

37. Appropriation-in-aid

38. Bank balances at end of financial year

PART V
ACCOUNTING FOR PUBLIC ASSETS AND LIABILITIES

39. Accounting for public assets and liabilities

40. Maintenance of asset register

41. Insurance of public assets

42. Disposal of public assets to employee or member of a controlling body for a public body

PART VI
CONTROL OF EXPENDITURE AND PAYMENTS

43. Chargeable expenditure

44. Authority to spend

45. Responsibility of office holder signing requisitions and stores orders

46. Suppliers' invoices