integrated coastal zone management project west ... - Iczmpwb.org

167B.3 Accounting Policies and Procedures352. Separate accounts will be maintained at the level of executing agencies for ICZMproject. Cash book, ledgers, stock and store registers, etc will be maintained at each level.The entire accounting procedures will follow the general finance rules of GOWB for pilotprojects being implemented by the government departments. Agencies other than governmentdepartments will follow their own approved accounting policies and procedures. Separatedouble entry cash book system is to be followed for receipt and expenditure accountseparately for the pilot projects by all implementing agencies. These cash books should beavailable for inspection by the funding and allocating agency. The monthly account statementto be submitted by the implementing agencies to the PMU should tally with the entries in thecash book. Supporting documents for the incurred expenditure including expenditure sanctionorder by the competent authority of the implementing agencies should be scrupulouslymaintained for inspection as and when required by the funding and fund allocating agency.B.4 Staffing and Capacity Building353. At the level of PMU, necessary staffing arrangement has been made (e.g Finance andAdministration unit) to deal with the financial matters of the project. At the level ofindividual implementing agencies, the existing accounting staff shall manage the accountingmatters of the project.354. Training of the concerned accounting staff at the level of PMU as well as at theindividual implementing agency level will be organised especially with regard to World Bankguidelines and procedures. The accounting staff will also be trained in computerisedaccounting procedure.B.5 Financial Reporting355. The implementing agencies will submit the statement of accounts and requisition offunds to the PMU at intervals to be decided by the funding authority. The PMU aftercompilation of accounts will submit the consolidated statement and utilisation certificates atrequired intervals to the Environment Department, GOWB for onward transmission to thefunding authority. It is necessary that a fully computerised uniform accounting system isevolved at each accounting level for ease in financial data handling, processing and reporting.B.6 Internal Control Mechanism356. Fund will be released by PMU to the executing agencies on quarterly basis afterevaluating their performance and progress (physical and financial). However, such releasewill be subject to achievement of mile stones in respect of each component of work by theconcerned executing agencies. The senior officials of each executing agency/department as