Part 10
Financial Report

Article (140)

Monthly accounting summary, which represents the trial balance of the monthly movement and balances, shall be prepared and sent to the General Accounts Directorate at the Ministry of Finance within the first week of the subsequent month, supported with the following:

1. A summary of the movement of deposits account indicating the balances brought forward up to the beginning of the month, the total collections and payments and the balance at the end of every month for each type of deposit.

2. A statement of the issued and recovered advances during the month, provided that every Department shall, at the end of the fiscal year, provide the General Accounts Directorate with a detailed statement of the brought forward advances balances for the new year, indicating therein the advance holder, sum and date of payment of the advance.

3. The bank's settlement memorandum (reconciliation statement) according to the prescribed form, to be accompanied with the statements relating to suspensions.

Article (141)

A monthly financial position shall be prepared by every Department of its expenditures out of the contents of the allocations control record (payments) according to the established form, and a copy thereof shall be sent to the Ministry of Finance and the General Budget Department.

Article (142)

The Ministry of Finance shall prepare the State's closing account comprising all the statements that reflect its actual revenues and expenditures as well as the financial position which shows the State's assets and liabilities.

Article (143)

No change in the accounting records in the general journal may be made whether by erasing, crossing out or deletion. The error should be corrected by an entry voucher.

Article (144)

If the error occurring in the general journal relates to the analytical columns and there is no error in the accounting directive, such error may be corrected by deleting the error in red ink and writing the correct particulars in blue ink together with the official's signature next to the correction.

Article (145)

General-Secretaries and heads of the Financial Affairs Units are responsible for the implementation of these Instructions.

Article (146)

The Financial Instructions No. (2) for the year 1989 "Application Instructions for Financial Affairs" and any amendments or administrative orders which contradict with these Instructions, shall be cancelled.

Article (147)

These Instructions shall be put into operation as of the date of its publication in the official gazette.