Operating Bank Accounts

• The Accounting Head shall keep an up-to-date file of the names, designations and signatures of officers authorised to operate bank accounts.
• The Accounting Head shall only nominate such officers after obtaining the approval of the Chief Accountant.
• The “Drawings Account” will be operated for all payments except for those payable from petty cash bank accounts, TMA bank accounts and trust bank accounts.

Banking Security

• The Accounting Head must ensure that two officers make deposits or withdrawals at the bank.
• Cash must be carried to the bank in a locked strong box.
• The Accounting Head is responsible for arranging additional security measures such as a police escort, whenever cash deposits or withdrawals are significantly large.

Preparing Monthly Bank Reconciliations

• The accounts supervisor shall prepare a bank reconciliation within 5 days of the end of the month.
• Details of unpresented cheques and other reconciling items should be attached to the reconciliation statement.
• Once the bank reconciliation is prepared, it should be signed and dated by the accounts supervisor and submitted to the Accounting Head.
• The Accounting Head must verify balances in the bank reconciliation to the cashbook, bank statements, unpresented cheque list and the previous month’s bank reconciliation before certifying it.
• If required by the Ministry of Finance, a copy of the certified bank reconciliation shall be forwarded to the Ministry by the date specified by them.

Maintaining Cash Clearance Accounts

• The accounts supervisor shall prepare a cash clearance (CCA) reconciliation for the drawings account each month within 5 days of the end of each month. The CCA reconciliation is prepared to reconcile the presented cheques in the drawings account to the amounts reimbursed from the relevant consolidated fund bank account.
• When the monthly General Ledger report is issued from the Ministry of Finance, the accounts supervisor shall reconcile the relevant account balances to the CCA.
• Details of any unreconciled items should be attached to the CCA reconciliation statement.
• The CCA reconciliation statement shall be signed and dated by the accounts supervisor and certified by the Accounting Head.
• The CCA reconciliation must be submitted to the Chief Accountant within the timeframe set by the Ministry of Finance.

(Proforma Finance Manual)