water services trust fund accounting and reporting clarine bowa and charles kang’ethe 1 accounting...
TRANSCRIPT
Water Services Trust Fund
Accounting and ReportingClarine Bowa and Charles Kang’ethe
1
Accounting and Reporting
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!!
2
Accounting and Reporting
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
3
Accounting and Reporting
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
4
Accounting and Reporting
Procurement Guidelines
Purpose:
• Maximise economy (value for money)and efficiency• Promote competition and fair treatment• Promote integrity • Increase transparency and accountability• Increase public confidence
5
Accounting and Reporting
Procurement Guidelines (cont.):
General Procedure:
• Procurement Plan• Constitute the Tender Committee, Procurement and Evaluation
Committees• Maintain good stores practice
6
Accounting and Reporting
Goods and Supplies
Item Limits (KSh) Procurement method
Consumables 0 - 500 Direct
Capital Items 0 – 5,000 Low procurement method
Capital Items 5,000 – 500,000 Request for quotation
Capital Items 500,000 – 3,000,000 Restricted Tender
Capital Items Above 3,000,000 Open Competitive bidding
7
Accounting and Reporting
Works
8
Accounting and Reporting
Limits (KSh) Procurement method
Below 5,000 1. Low procurement method or 2. Work in force
5,000 – 500,000 Request for quotation
500,000 - 3,000,000 Restricted tendering
Above 3,000,000 Open tender
Services
Note: Direct procurement of services can only be used for exceptional cases and requires WSTF approval
Limits (KSh) Procurement method
0 – 500,000 Request for quotation
500,000 – 1,000,000 Restricted tender
Above 1,000,000 Open competitive bidding
9
Accounting and Reporting
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• 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
10
Accounting and Reporting
Specific reports
1. Monthly Progress Report2. Project Completion report3. RED FLAG Report
Templates have been prepared by the WSTF
And remember: its all about quality and integrity!!!
11
Accounting and Reporting
Thank You
12
Accounting and Reporting