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General Rules for Disbursement

Water Services Trust Fund Training Programme for Field Monitors Accounting and Reporting Clarine Bowa. Accounting and Reporting. General Rules for Disbursement.

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General Rules for Disbursement

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  1. Water Services Trust FundTraining Programme for Field MonitorsAccounting and ReportingClarine Bowa Accounting and Reporting

  2. General Rules for Disbursement • Funds are disbursed in accordance with progress reports • The WSP has to make a formal request for disbursement • Disbursement will be done in line with budget approved provisions • Audits will be carried out by the WSTF!! Accounting and Reporting

  3. Usage of Funds Suspension of subsequent disbursements: Use of funds for other purposes other than those stated in the contract Misappropriation of funds Major changes in budget lines without approval Savings / unspent funds at the end of the project: Remaining funds will be left for company use WSP to prepare plan for use of remaining funds Activities to be geared towards enhancing revenue, reducing operational costs and increasing efficiency Accounting and Reporting

  4. Accounting Procedures • The WSP should maintain separate bank accounts for each project • The WSP should maintain books of accounts according to best practices and acceptable accounting standards • Expenditures should be in line with budget heads • Financial records • Maintain a cashbook • File all vouchers, receipts and certificates • Bank reconciliations • Monthly financial reporting • Formats Accounting and Reporting

  5. Procurement Guidelines Purpose: • Maximise economy (value for money)and efficiency • Promote competition and fair treatment • Promote integrity • Increase transparency and accountability • Increase public confidence Accounting and Reporting

  6. Procurement Guidelines (cont.): General Procedure: • Procurement Plan • Constitute the Tender Committee, Procurement and Evaluation Committees • Maintain good stores practice Accounting and Reporting

  7. Goods and Supplies Accounting and Reporting

  8. Works Accounting and Reporting

  9. ServicesNote: Direct procurement of services can only be used for exceptional cases and requires WSTF approval Accounting and Reporting

  10. Reporting Key requirements: • Prepare your Monthly Progress Reports with utmost care!! • Adhere to deadlines • Monthly progress reports to be submitted not later than 10th of the following month • Prepare separate reports for each project! • Be open for inspection visits and spot checks to verify reports • Project completion report to be submitted within one month after completion of the project • Prepare a RED FLAG Report if you encounter irregularities!!! Accounting and Reporting

  11. Specific reports 1. Monthly Progress Report • Project Completion report • RED FLAG Report Templates have been prepared by the WSTF And remember: its all about quality and integrity!!! Accounting and Reporting

  12. Thank You Accounting and Reporting

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