Part 2
Financial & Accounting Basis & Rules

Article (4)

In realization of the intended purposes out of this By-law, the Department shall adopt the following financial and accounting basis and rules:

1. Utilize the double entry system in organizing its accounts.

2. Utilize the cash basis in substantiating the financial operations for the preparation of the closing account and the cash position thereto.

3. Apply the centralization method in paying-in the Department's revenues into the Public Treasury's Account.

4. Apply the de-centralization method in expending the Department's expenses.

5. Adopting a unified accounting classification to the statements of the closing account and the cash position of the Department which is consistent with the classification of the budget.