Decree No. (9) of 1994 on the financial regulation of the Service

 

The Administrative Board of the Coastal Protection Agency

Decree No. (9) of 1423 FBP on the Financial Regulations of the Agency

 

Upon review of:

● The State Financial Law, as amended;

● The Regulations on Budget, Accounts and Warehouses; and

● The General People’s Committee Decree No. (746) of 1993 AD on Establishing the Coastal Protection Agency,

 

The Administrative Board of the Coastal Protection Agency has decreed the following:

 

Article (1)

The provisions of the attached Financial Regulations shall be applied with regard to the financial affairs of the Coastal Protection Agency.

 

Article (2)

The provisions of this Decree shall enter into force as of the date of its approval by the General People’s Committee.

 

The Coastal Protection Agency’s Administrative Board

Issued on: / /   

Corresponding to: / /

The Financial Regulations of the Coastal Protection Agency

 

Article (1)

The Agency’s financial year shall begin and end in conjunction with the start and end of the State’s financial year.

 

Article (2)

The Agency’s financial resources shall consist of:

1. The appropriations allocated thereto it in the state budget;

2. The proceeds of the loans procured by the Agency;

3. Any other resources the Agency is allowed to draw on upon approval by the General People’s Committee.

 

Article (3)

The Agency shall keep its funds in one or more commercial banks operating in the Great Socialist People’s Libyan Arab Jamahiriya, as determined by the Secretary of the Administrative Board.

No payment shall be made from the Agency’s funds unless for the specified purposes and according to the procedures and rules set forth herein.

 

Article (4)

The Agency’s financial documentation cycle and the method of circulating and recording documents shall be regulated by a decision of the Administrative Board. Such a decision shall identify the book group and financial models used by the Agency. The method of archiving important documents and contracts, ensuring the integrity and confidentiality thereof, shall be approved in the same manner.

 

Article (5)

The Agency shall prepare an annual budget estimate covering the activities thereof according to the decree on establishing the same. Subject to available resources, the obligations of the Agency shall be within the expenditure limits allocated in the financial year’s budget. However, the Agency may have financial obligations to be incurred by the budgets of upcoming years for the purpose of implementing projects extending for more than one financial year, provided that the value of the obligations or relevant contracts does not exceed the total costs assigned thereto.

 

Article (6)

The Agency shall file a quarterly report detailing the status of work in terms of completion and expenditures.

 

Article (7)

The Secretary of the Administrative Board shall be in charge of disbursing from the Agency’s allocations.

The Secretary may authorize department managers and Agency officials to disburse all or part of the appropriations and identify the limits of such disbursement.

 

Article (8)

The Agency shall develop a system to control the creation, receipt and circulation of documents used for proving the value of funds, as well as a method for archiving such documents upon receipt.

 

Article (9)

Funds shall be disbursed from the Agency’s account by cheques or in cash, as follows:

1. In cash, in cases of urgency or emergency or where it is not easy to disburse the funds in cheques. A decision shall be made by the Secretary of the Administrative Board to identify the persons authorized to disburse funds in cash and the maximum limit of the amounts to be disbursed at a time.

2. Under cheques drawn on the Agency’s bank account. The cheque and all banking transactions must have two authorized signatures affixed thereupon. The Secretary of the Administrative Board shall notify the bank of the authorized signatories and any amendments made to their names.

 

Article (10)

The disbursement measures shall be taken after providing all the documents that prove the validity and soundness of all different measures. No funds may be disbursed without reviewing and verifying the soundness of disbursement measures and ensuring that they comply with the Agency’s applicable laws and regulations.

 

Article (11)

Salaries and wages shall be paid on a monthly basis and may be disbursed in advance upon justification. Deductions from the employees’ salaries and wages shall be no later than the end of the financial year.

 

Article (12)

The disbursement receipts shall be stamped as “Disbursed” upon preparing cheques or the remittance messages thereof.

 

Article (13)

The Secretary of the Administrative Board may allocate an imperst to pay petty cash, which shall be determined according to the movement of petty cash. Disbursement from such imperst shall be subject to the conditions prescribed by the Secretary.

The imperst may be disbursed for employees whose work nature in the Agency requires disbursing cash, within the limits deemed appropriate by the Secretary. The following points shall be taken into account to regulate and control disbursement from an imperst:

a. The imperst shall be treated as a personal custody, and may not be transferred to another person before settling the first person’s imperst;

b. The expenditures shall be supported by the original payment documents except in cases where it is difficult to get such documents, such as the purchase of postage and stamps;

c. The amount disbursed from the imperst shall be replenished when it is about to run out of credit, after reviewing the documents thereof;

d. The Imprest inventory shall be conducted by the end of the financial year. The Financial Department may conduct an inventory on a random basis; and

e. All Imperst must be settled, the documents kept by the employee concerned with Imperst shall be submitted, and the balances thereof shall be supplied by the end of the financial year.

 

Article (14)

The Secretary of the Administrative Board may disburse a temporary advance for urgent or non-periodical purposes, on the account of overnight allowance or on the account of personnel salary, whose procedures of appointment have not been completed. Advances shall be settled at once when the purpose of disbursement no longer exists. In general, the necessary settlement shall be made for such advances prior to the end of the financial year in which they were disbursed.

 

Article (15)

The Secretary of the Administrative Board shall be authorized to cover the expenditures required to meet the Agency’s business needs, including hospitality, guest reception and other expenses related to public relation activities. The Secretary of the Administrative Board may also authorize the disbursement of expenditures required for participating in authorized local and international exhibitions as well as festivals and official ceremonies pursuant to approved budget lines.

 

Article (16)

No deposits may be accepted unless they are accompanied by a “cash deposit order”. Only endorsed cheques by non-governmental entities shall be accepted. The treasurer shall receive and deposit the same in the safe and make an entry thereof in the safe’s daybook. The treasurer shall also execute a receipt note, duly stamped with the seal of the Agency’s safe, and hand the same over to the stakeholder. No disbursement shall be made from the amounts delivered to the safe. The treasurer shall deposit such amounts in the Agency’s bank account by the end of every week and whenever the proceeds amount to one thousand dinars.

The necessary accounting entries shall be made based on the cash deposit orders and slips.

 

Article (17)

All stages of disbursement and collection shall be audited and examined. The implementation of financial and administrative regulations and instructions of business shall be followed up. A random and regular audit and inventory shall be made for the Agency’s various safes.

 

Article (18)

Books and registers shall be audited at the end of every month to detect any errors in entries and carrying forward to have the necessary settlements made by a concerned employee nominated by the Administrative Board.

 

Article (19)

Chequebooks may be requested from the bank using the prescribed form after approval by two authorized signatures. When received, Chequebooks shall be audited and handed over to the treasurer to be kept in his custody inside the safe. The treasurer must keep a book showing the movements of receiving, handing over and returning chequebooks. Such a book shall be audited periodically and at the end of the financial year.

 

Article (20)

The Agency may rent machinery, equipment, means of transportation and any required buildings from third parties, where necessary for business interest, provided that the Agency does not have unutilized equivalent items in its possession.

 

Article (21)

The Financial and Administrative Affairs manager shall prepare the annual estimates of the Agency’s warehouse needs based on proposals made by different departments. The warehouses shall always be furnished with the Agency’s list of needed items in a timely manner before the quantity of items reach the prescribed minimum limit. When requesting to contract for supplying the needed warehouse items, the approved estimates shall be observed, the limits of permissible appropriations shall not be exceeded and an appropriate storage space shall be provided.

 

Article (22)

No items shall be accepted in warehouses without a supply order, and a warehouse storage note shall be executed for the accepted items. Such note shall be attached to payment order for the supplied items.

 

Article (23)

Items shall not be accepted in warehouses unless duly examined, inspected and verified. If the items are regular ones that do not need certain expertise for inspection, it shall be inspected and examined by the storekeeper. The storekeeper shall make an entry denoting the acceptance of the items on the statement of account submitted by the supplier. If the items are of a technical nature, a representative from the relevant department shall be engaged to prepare a report of the steps and findings of inspections. Such a report shall be enclosed with the said statement of account.

 

Article (24)

Items shall be issued from the warehouse by a requisition to be executed by the requesting entity, in the respective prescribed form. The issued items shall be delivered against the signature of the requesting entity.

 

Article (25)

The documentation cycle of warehouses, forms of receiving and issuing items from warehouses, receipt reports and everything related thereto shall be determined by a decision of the Administrative Board.

 

Article (26)

Damaged, lost, missing or unusable items shall be written off by a decision of the Administrative Board based on a submission by the Secretary of the Administrative Board whenever it is established that the loss, shortage or damage has not occurred as a result of deceit or negligence. In addition, the value of such loss, shortage or damage shall not exceed two thousand dinars at a time and ten thousand dinars throughout the year. If the value exceeds such a figure or it is established that the loss, shortage or damage has occurred as a result of negligence or deceit, the matter shall be referred to the General People’s Committee to issue a decision of writing off, assignment or any other action, as appropriate.

 

Article (27)

The Financial and Administrative Affairs manager shall recommend that items are deemed as scrap or unusable for any of the Agency’s purposes. Such recommendation shall be submitted to the Administrative Board, which shall form a committee to examine and inspect the items to be scrapped. Such a committee shall submit its report with a proposal to dispose of such items to the Administrative Board in order to decide, at its own discretion, the appropriate action to be taken in their regard.

 

Article (28)

All non-cash assets that the Agency owns or has a right in therein shall be recorded in a register, in the respective prescribed form, containing the details of the asset.

 

Article (29)

At the end of every financial year, an inventory of the Agency’s assets shall be made by committees formed by a decision of the Secretary of the Administrative Board. Such inventories shall give a clear and true reflection of the Agency’s assets, and include a statement of any shortage or excess against the Agency’s registers along with the reasons therefore. The inventories and reports shall be attached to the final accounts and budget submitted for approval.

 

Article (30)

The Agency shall prepare, within no more than three months from the end of the financial year, the final account for the expenses and revenues of last year. The final account shall also include a report detailing the Agency’s activity for such year and the status of work in-progress in terms of expenses, progress rates and obstacles.

 

Article (31)

A copy of the prepared final account and the report attached thereto shall be immediately referred to the General People’s Committee for People’s Monitoring and Follow-up for review and preparation of a report of its remarks according to the system in place.

 

Article (32)

The Agency may procure insurance against all risks for all or part of its properties, particularly the warehouses, safes, cash-in-transit and treasurers.

 

Article (33)

The guarantees provided by the persons dealing with the Agency shall be in the form of either cash or endorsed bank cheques. The guarantees may also be in the form of an unconditional letter of guarantee issued by a bank operating in the Great Jamahiriya. Guarantees may also be provided by deduction from the entitlements of the persons dealing with the Agency or with other entities affiliated with the Public Treasury. If the guarantee is provided by deductions from the entitlements with the Agency, such entitlements shall be fixed and final with a value not less than double the amount of the required guarantee, and the owner thereof shall submit an express assignment to deduct the value of the guarantee.

If the guarantees are provided by deduction from entitlements with entities affiliated with the Public Treasury, the guarantee shall actually be deducted for the Agency’s account from such entitlements, and a notice to that effect shall be given to the Agency.

 

Article (34)

The letters of guarantee submitted to the Agency shall be kept in the safe after recorded the details thereof in a special register. The validity of such letters shall be followed up to maintain the Agency’s rights against third parties.

 

Article (35)

The insurance policies accepted by the Agency from persons dealing therewith or entered into by the Agency to insure upon its works, properties or personnel shall be subject to the same rules governing the letters of guarantee in respect of safekeeping, recording and follow-up.

 

Article (36)

For matters not provided for herein, the rules set out in the State’s Financial Law and Regulations shall apply.