Financial Management Regulations, 2007
Regulations prescribing detailed rules for the management and control of public finances in Sierra Leone under the budgeting and accountability framework.
Summary
The Financial Management Regulations, 2007 are subsidiary legislation made under the Government Budgeting and Accountability Act, 2005. They prescribe the detailed rules for the management, control and accounting of public money by ministries, departments and agencies.
The Regulations cover matters such as budget preparation and execution, commitment and payment controls, the duties of vote controllers and accounting officers, banking and cash management, accounting and financial reporting, and internal controls. They operationalise the principles in the parent Act and are a key instrument of public financial management.
Main provisions
- Prescribe detailed rules for the management and control of public money.
- Cover budget preparation, execution and expenditure controls.
- Set out the duties of vote controllers and accounting officers.
- Provide for accounting, financial reporting and internal controls.
- Made under the Government Budgeting and Accountability Act, 2005.