ASDP Basket Fund - Ministry Of Agriculture, Food and Cooperatives

7 Accounting for expenditures7.3 Payments in foreign currencyWhere payments need to be made in foreign currency, the IFMS is customised toenable PVs to be generated which are payable to the BOT. However, the PV mustcontain a supplier reference. The processing of payment is similar to the onedescribed above, except that cheques generated by the CPO are in favour of theBOT.Further, the Chief Accountant must present the cheque, a copy of the PV and writteninstructions to the BOT requesting a bankers draft or TT to be effected in favour ofthe supplier.7.4 LGA sector account used for making ASDP related paymentsThe Procurement regulations require that prior to commencing the procurementprocess, the Council Treasurer commits funds totaling the estimated value of goodsand services either on the IFMS Vote Control Register for LGAs that haveimplemented the IFMS or on the Manual Vote Book for LGAs that are on the manualsystem. Once funds have been committed, the Council Treasurer must generate aLPO.All payments with the exception of petty cash payments are made by cheque.Cheques must be drawn against the relevant sector bank accounts in which ASDPfunds received from the central government have been deposited.Operation of the bank accountThere are two categories of signatories to the sector bank account. These are:Category A:Any two Sector Heads that are appointed by the Council Director – this will be therelevant Sector Head i.e. agricultural, water and livestock and cooperatives andmarketingCategory B:The Council Director or other officer nominated by him/her and Council Treasurer.One signatory from both the categories must sign all cheques.Government of the United Republic of Tanzania55