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CPV
& Purchase Requisition Form 2008 |
Portuguese |
English |
Under the Budget and Financial Management Regulation, the Treasury is responsible for the following:
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monitoring the receipt of government revenue;
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the deposit of government revenue into a central account or a designated account of the government; and
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execution of an annual budget that allocates funds to government departments and agencies in the current fiscal year, including:
+ the release of Appropriation, called 'Expenditure Authorization Notices', for use by government departments or agencies;
+ monitoring departmental and agency budgets;
+ investment of surplus government revenue;
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issuing of financial administration instructions in order to establish a proper system of accountability in the financial management of public funds in
Timor-Leste;
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providing regular reports on revenue and expenditure;
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opening and maintaining the bank accounts of the
GoTL.
In order to discharge its statutory responsibilities, the Treasury carries out the following major functions:
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Establishing a proper system of accounting in
every unit of GoTL;
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Supervising the prompt collection of revenue
due to GoTL;
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Bringing properly to account under appropriate budget codes, all revenues and other receipts;
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Maintaining proper supervision in the safe-keeping of all public moneys, stamps, securities and valuable documents;
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Exercising control over, and managing the liquidity of, the Consolidated Fund of
Timor-Leste;
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Exercising supervision over all accounting and financial officers entrusted with the receipt and expenditure of public funds and to carrying out checks, including surprise checks, against the occurrence of fraud, embezzlement or carelessness;
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Supervising the commitment and disbursements of
GoTL, taking due that no commitment or payments are made or liabilities incurred which are not covered by proper authority;
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Preparing the annual financial statements which shall be audited by the independent auditor appointed pursuant to Regulation 2000/1;
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Preparing other financial and operational reports for publication and submission to appropriate authorities.
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English