Insider Economy Ministry expenses and revenue to come under close scrutiny

Ministry expenses and revenue to come under close scrutiny

The Republic’s Treasure Department plans to put financial management in the public sector under close scrutiny. And it has called for registries/forms to be kept so as to check properly all expenditure.

The guidelines are in a circular which has already been sent out to all concerned bodies.

It basically notes that all Accounting and Financial Management Departments of each ministry are invited to instruct ministries / departments / government services on how to keep registries/forms referred to costs/expenses.  As well as on how to take action where required, thereby ensuring compliance with relevant laws and regulations.

In addition, as from the beginning of this year each ministry’s Accounting and Financial Management Division should, for each year and no later than the end of February of the following one, confirm the proper adherence to established procedures governing financial management.

This should be done by submitting a relevant form, fully completed. The same statement should be sent to the Director of the Department/Office concerned and also notified to the Auditor General of the Republic.

Specifically, records are requested to be kept for the following:

  • All money orders (cheques that come by post should be recorded in a registry which is periodically inspected by another officer)
  • Rent receivables must be recorded in a Receivable Rent Register, which must be inspected regularly by another officer.
  • Unannounced inspections on revenue collectors (cashiers and / or collectors) including holders of any Fixed Deposit Funds at least once a year
  • Keeping up-to-date income statements and doing their best to collect it
  • Check for any duplicated registries of the TD’s series of collection forms and available unused collection books, investigation of non-returned collection books and destruction of completed ones
  • Monthly audit of expenditure and revenue items in relation to the NQB21 statement. Any necessary corrections are made without delay.
  • Payable Rentals should be recorded, and for other contractual payments a Contract Registry must be maintained
  • Keeping up-to-date money transfers and deposit accounts
  • Maintenance and updating of the FIMAS computerised system with respect to assets and related asset registry (library, tools, computer equipment, vehicles)
  • Bookkeeping (Vehicle Driving Book, Monthly Vehicle Cost List) as well as Monitoring of average fuel costs per vehicle / machine
  • Check that data submitted in vehicle registries are cross-checked with the data of the geographical information system installed on vehicles.

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