NATIONAL TREASURY

NATIONAL TREASURY Best Practice Guideline IN YEAR MANAGEMENT, MONITORING AND REPORTING NATIONAL TREASURY July 2000 2 Contents Foreword by Maria Ramos, Director-General NATIONAL TREASURY 1. Introduction Background & context Legal requirements Concepts 2. The production & interpretation of reports In-year management, monitoring & reporting Monthly reports Quarterly reports Annual Report Process Month-end procedures & report Formats Commitments Projections Summary 3. Taking action Introduction Concepts Taking remedial action o Virement o Rollovers o Transfer of functions o Adjustment estimates o Curtailing expenditure on a programme 4. Quality issues Improving the quality of (financial) data Annexures A Public Finance Management Act, Sections 32, 39 & 40: Division of Revenue Act Sections 7-9 B Summary of Accounting Officer s Responsibilities C Conceptual view of the process D Free State month end procedures E FMS, BAS, PERSAL, LOGIS F Formats & explanations 3 Foreword This Best Practice Guide is the first in series of publications to assist Accounting Officers in dealing with the changes brought about by the Public Finance Management Act.

NATIONAL TREASURY Best Practice Guideline IN YEAR MANAGEMENT, MONITORING AND REPORTING National Treasury July 2000. 2 Contents Foreword by Maria Ramos, Director-General National Treasury 1. Introduction • Background & context • Legal requirements • Concepts 2. The production & interpretation of reports

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