Require financial officials and account managers to close financial accounts and hold accountable for violators

Economy and stock exchange

No electronic payment orders will be accepted after June 27

Prohibition of gift giving between the public authorities and each other or from the employees

The Ministry of Finance issued a circular No. 45 for the year 2019 on the instructions for the closing of the accounts for the financial year 2018/2019, so that the implementation of these instructions shall be taken into account by the administrative apparatus of the state, local government units and public service and economic bodies.

A statement issued by the Ministry of Finance today that the most important instructions of the periodic book issued by Imad Abdullah Awad, head of the accounts and financial directorates is that as of May 23, and until the end of the current fiscal year 2018/2019 prohibits the public bodies in the state budget to exchange or contract On new projects for the purpose of exhausting their assets under Law No. 182 of 2018 on the organization of contracts concluded by public bodies.

It is also forbidden for those parties to enter any forms of disbursement by deducting any of the sections of the general budget in the book of the inventory of exchange requests received by the end of the work on Thursday, June 13 next, except with the approval of the Minister of Finance or his authorized and excludes from this the payment of salaries and wages of employees due monthly, The Egyptian Tax Authority, insurance funds, pensions, deductions, judicial rulings are enforceable and the entitlements of workers in the cases of pension or death referral and the payments of the State Insurance Fund for the guarantees of the Crowns, with the obligation to close the books and accounts no later than the end of the day Thursday 27 June 2019.

The statement added that the periodic book also stressed the need not to exceed the disbursement of the funds listed or the purposes for which it was allocated or link to any expenses not offset by sufficient funding until the end of the fiscal year for those who have not completed the application of the mechanization system to date.

The statement pointed out that the instructions also included the prohibition of the final discount on the budgetary appropriations of any amounts and deposited in special accounts or the account of creditors for the purpose of exhaustion of items with the prohibition of the addition of any revenue of the entity to the income of funds and special accounts and units of a special nature.

The statement pointed out that the instructions stressed the need for public entities to commit 15% of the total monthly revenues of the funds, special accounts and special units of the Treasury unless the regulations of these bodies provide for the devolution of a higher percentage of the public treasury except for the accounts of educational research projects and funded projects Of grants, international agreements, donations and social housing projects, provided that the 15% share shall be supplied within fifteen days from the month following the collection to the Central Bank's unified treasury account.

The statement also pointed out to me that the Prime Minister's Decision No. 2374 of 2017 and the instructions of the Ministry of Finance concerning electronic payments must be complied with, so that all financial payments will be implemented on the various budget sections through the electronic payment and collection system GPS After registering the forms on the system GFMIS Through the issuance of electronic payment orders for all receivables of customers with government agencies.

The Ministry of Finance also stressed the need to commit to taking appropriate measures to settle and liquidate the current account balances and the accumulated debts that have been deported over the past financial years, which do not represent a real right of the state, as well as the commitment to ban the purchase of new cars only after the approval of the Ministry of Planning and Follow-up Administrative reform and also instructions to rationalize public spending in terms of benefits in kind and to prohibit the delivery of gifts between the parties and each other or from the employees of Bahao also instructions to supply the full proceeds from the sale of idle goods inventory and the proceeds of the sale of scrap and Hannah to the general revenues of the state on the basis of the selling price.

The Ministry of Finance said that financial officials in public bodies, together with managers and accountants, are responsible for closing books on time. The central administration of financial inspection in the accounts, financial directorates and general departments of financial inspection in the financial directorates in the governorates should follow up the implementation of these instructions and ensure compliance with them.

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