The Finance and Administration Manual (“the Manual”) is based on the Standard Operating Procedures of RGC and incorporates specific requirements of the PFMRP. The Manual is aimed at providing policies and procedures of the Program’s management and staff to manage receipts and disbursements of funds and asset management in a proper and best practice manner. It assists to provide timely and reliable financial reports from the accounting system. The Manual is applied to all program implementing agencies involved in implementation the PFM Reform Program such as General Departments or Departments of MEF and Line Ministries/Institutions. To this end, the Manual incorporates sound financial and administrative internal controls and provides step-by-step guides on procedures for financial management and administration activities to prevent errors or fraud and, if they do occur, to ensure timely detection. It also provides guidance on all areas of financial management from financial policies and standards, budgeting, financial accounting systems and procedures, financial reporting, and audit.
The Peachtree accounting system, in addition to manual processes set out in the Manual, is used to ensure timely and accurate financial reporting for the Program’s management and to facilitate sound financial analysis and management. Policies and procedures governing application of the Peachtree system are covered separately in the Peachtree Computerized Accounting Manual.
The Manual should be updated regularly based on experience gained during the implementation of the Program so as to improve the efficiency of implementation should there be any changes in the Program’s circumstances. SCS is responsible for updating the Manual and keeping all Program’s management and staff informed of the changes made.
Any manual must assume some level of skill on the part of accounting staff and some level of management supervision to see that documented procedures are adhered to. From time to time there are likely to be non-routine tasks that arise which may be outside the technical skills and experience of Program staff. In these cases outside professional assistance may be required.