GOOD MORNINGEVERYBODY
I AM A. N.JAUDALLY, MFOFROM THE REGISTRAR GENERAL DEPARTMENT.WELCOME TO YOU ALL FORTHIS PRESENTATION ON FINANCIAL MANAGEMENT
FINANCIAL OPERATIONS
A.BUDGETARY PROCESSB.FINANCIAL TRANSACTIONSC. MONITORINGD. REPORTSE. MISCELLANEOUS
BUDGETING PROCESS
SHIFT FROM LINE BUDGET TO PBB-WHYSUGAR PRICEMARKETS & TARIFF BARRIERSGLOBALISATIONFINANCIAL & CURRENCY CRISISCHARACTERISTICS-LINE B.-SIMPLE,INPUTORIENTEDPBB-COMPLEX,OUTPUTORIENTEDPBB-OVERVIEWPRO/SUB P.OUTCOMEOUTPUTINDICATORSACTIVITIESINPUTSTARGETSMTEF –PROJECT RESOURCE AVAILABILITYDISTRIBUTIONPREPARE PBBAGREEMENTPOLITICAL APPROVALLEGAL APPROVAL
SUCCESSES & CHALLENGES
SUCCESSES-MINDSETPROJECTS FRAMEDPERFORMANCE GIVEN INDICATORSCHALLENGES-ACCOUNTABILITYCOSTINGEVALUATIONOWNERSHIP
FINANCIAL TRANSACTIONS
RECEIPTS:TAXES.LOANS.GRANTSVoucher,cashbook,banking,securityPAYMENTS:AUTHORITY.CERTIFICATES.funds, allocationPE,O.C.,CAPITAL.JOURNALS.ADJUSTMENTS.D.WARRANT,VIREMENTACCOUNTING:TAS.BACK SYSTEMS.
MONITORING &REPORTING
FORECAST.ACTUAL. REVISED.VARIANCET.A.S-SET OF BOOKS-BUB BOOKWEEK BOOKCAP PROJECT BOOKREVENUEUTILITIESREPORTS & RETURNS-Budget monitoringCash flowCash in transitpsip
MISCELLANEOUS
PROCUREMENTAUDITWRITE-OFF & DESTRUCTION OF RECORDSGRANTSBELOW-THE-LINE ACCOUNTSSELF-ACCOUNTINGSTAKEHOLDERSLEGAL FRAMEWORKGOV.ACCT.SYSTEMSCAPITAL PAYMENTS
PROCUREMENT
MFO-MEMBER OF COM.VFM
AUDIT
PRE-AUDITINTERNAL AUDITEXTERNAL AUDITPACPROCESSES FOR AUDIT QUERIES:MANAGEMENT LETTEREXIT CONFERENCEREFERENCE SHEETCONFIDENTIALITY
INTERNAL CONTROL
INTERNAL CONTROLINTERNAL CHECK
BELOW THE LINE ACCOUNTS
ADVANCESDEPOSITSIMPRESTSSPECIAL FUNDS
WRITE OFF & DESTRUCTION OF REC.
WHEN TO WRITE OFFPROCEDURES
STAKEHOLDERS
MOFEDTREASURYMCSARCISDSTATISTICSBOM
SELF-ACCOUNTING DEPARTMENTS
EXAMINATION & PAYMENTSBANKING ARRANGEMENTSBANK REC. STATEMENTS
GRANTS
GRANT MEMORANDUMRELEASE OF GRANTS
ACCOUNTING SYSTEMS
LIMIT POWER OF GOVERNMENTLEGISLATURE POWERCASH BASISACCRUAL BASISANNUAL REPORT-WEAKNESSESNO ASSETS SHOWNNO PREPAYMENTS/ACCRUALSNO REVALUATION/DEPRECIATIONNO FULL COST OF GOV.OPERATIONSNO DEBTORS/CREDITORS ACCOUNTS
CAPITAL EXPENDITURE
PPCPSIPPAYMENT PARTICULARITIES
LEGAL & ADMINISTRATIVE FRAMEWORK
Constitution sec.103-110Finance and Audit ActPUBLIC Debt MANAGEMENT ActPUBLIC PROCUREMENT ACT AND REGULATIONSFMM VOL I-VIII-FINANCIAL INSTRUCTIONSIPPMICTM
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