Payments
The Accountant General derives
his authority as Chief Accounting Officer, from the Finance
(Admin.) Act 1997 section (5) and section 4 of the attendant
Financial and Stores Regulations of the Act. Accounting Framework:
By virtue of being Controller and Custodian of the Consolidated
Fund, he ensures that a proper system of accounting is established
in every Ministry, exercises supervision over the receipts of
public revenue, ensuring its punctual collection to meet the
requirements of Ministries.
Cash
Management Services
Our Policy Statement on our Cash management function is that the Accountant General
shall ensure that proper cash management practices are adhered to by monitoring
and approving payments within authorized bank balances.
The Objective of this policy is to ensure monitoring and restriction of payments
within authorized bank balances
Procedural requirements of this policy allow for miscellaneous payments (amounts
under $5000) approved at the Cash Flow Committee meeting to be disbursed at the
discretion of the Assistant Accountant General (Funds).
This policy procedural requirement also stipulates that the Treasury Audit Unit
and/or any other party as determined by the Accountant General, must approve
all payments prior to printing the cheques.
F. References Finance (Administration) Act Section 38, Financial Regulations
Section 4 (2) (a)
General
Payments Services:
Our Payments Policy Statement is that the Accountant General must
ensure that all payments are made in a manner acceptable to suppliers
and the laws of the land and are accurate.
The objective of our Payments Policy is to pay government suppliers,
vendors and other creditors with a valid means of payment (legal
tender).
Our procedural requirements are as follows:
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Cheques drawn on bank accounts approved by the
Accountant General shall be signed and countersigned by such
persons as the Accountant General determines.
All payments will be made by cheque with the exception of non-taxable payments
to individuals for amounts less than EC$100.00, which shall be paid by cash. |
For adherence to this policy, reference can be made to the Financial
Regulations Part XVIII
Overseas Payments Services
Our Payments Policy Statement is that the Government may have
reciprocal arrangements with other governments or agencies to
pay certain obligations in their jurisdiction on its behalf and
Payments by other governments and agencies are by way of advances
which have to be settled on a monthly basis by netting off contra
accounts or by transfer of funds.
The objective of our Overseas Payments Policy is to ensure that
all transactions on the behalf of overseas agencies or commercial
agents and for the government of St Lucia by overseas agencies
or commercial agents are properly accounted for.
Our procedural requirements are as follows:
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A ministry/department requiring an overseas
payment to be made must send a request to the Accountant General
giving all of the payment including its purpose.
The Accountant General will instruct that the required payment be made on his
behalf, provided all requirements are satisfied. |
For adherence to this policy, reference can be made to The Finance
(Administration) Act, 1997 Section 54 Financial Regulations Part
IX Sub-Section 69 – 81
Advance Payments Services
Our Advance Payments Policy Statement is that the government will
in the due course of business issue advances to public officers
for public or private purpose to facilitate:
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Travel on official business |
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Medical expenses |
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Purchasing a vehicle of approved official transportation |
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Beneficial or compassionate purposes. |
The objective of Government’s
Advance Payments Policy is to ensure that all transactions are
properly accounted for in
the accounts of the government.
Our procedural requirements are as follows:
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The Minister of Finance shall determine the
terms on which advances are granted. |
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Advances are to be repaid strictly in accordance with the
terms on which they were granted unless otherwise stated by
the Minister of Finance. |
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Advances must be entered into the advances database. |
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Advances must be retired on a monthly basis. |
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Departmental advances cannot be used to circumvent the process
of parliamentary control of expenditure |
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When the Accountant General permits a charge to be accounted
for under a departmental advance account, this charge must
be investigated and brought to the account under the correct
head of appropriation. |
For adherence
to this policy, reference can be made to The Finance (Administration)
Act 1997, Financial Regulations Part XV Section
103 – 105
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