Water Services Trust Fund Accounting and Reporting Clarine Bowa and Charles Kang’ethe 1 Accounting and Reporting

General Rules for Disbursement Funds are disbursed in accordance with progress reports The WSP has to make a formal request for disbursement Disbursement will be done in line with budget approved provisions Audits will be carried out by the WSTF!! 2 Accounting and Reporting

Usage of Funds Suspension of subsequent disbursements: Use of funds for other purposes other than those stated in the contract Misappropriation of funds Major changes in budget lines without approval Savings / unspent funds at the end of the project: Remaining funds will be left for company use WSP to prepare plan for use of remaining funds Activities to be geared towards enhancing revenue, reducing operational costs and increasing efficiency 3 Accounting and Reporting

Accounting Procedures The WSP should maintain separate bank accounts for each project The WSP should maintain books of accounts according to best practices and acceptable accounting standards Expenditures should be in line with budget heads Financial records – Maintain a cashbook – File all vouchers, receipts and certificates – Bank reconciliations Monthly financial reporting – Formats 4 Accounting and Reporting

Procurement Guidelines Purpose: Maximise economy (value for money)and efficiency Promote competition and fair treatment Promote integrity Increase transparency and accountability Increase public confidence 5 Accounting and Reporting

Procurement Guidelines (cont.): General Procedure: Procurement Plan Constitute the Tender Committee, Procurement and Evaluation Committees Maintain good stores practice 6 Accounting and Reporting

Goods and Supplies ItemLimits (KSh)Procurement method Consumables Direct Capital Items0 – 5,000Low procurement method Capital Items5,000 – 500,000Request for quotation Capital Items500,000 – 3,000,000Restricted Tender Capital ItemsAbove 3,000,000Open Competitive bidding 7 Accounting and Reporting

Works 8 Accounting and Reporting Limits (KSh)Procurement method Below 5,0001. Low procurement method or 2. Work in force 5,000 – 500,000Request for quotation 500, ,000,000Restricted tendering Above 3,000,000Open tender

Services Note: Direct procurement of services can only be used for exceptional cases and requires WSTF approval Limits (KSh)Procurement method 0 – 500,000Request for quotation 500,000 – 1,000,000Restricted tender Above 1,000,000Open competitive bidding 9 Accounting and Reporting

Reporting Key requirements: Prepare your Monthly Progress Reports with utmost care!! Adhere to deadlines Monthly progress reports to be submitted not later than 10 th of the following month Be open for inspection visits and spot checks to verify reports Project completion report to be submitted within one month after completion of the project 10 Accounting and Reporting

Specific reports 1. Monthly Progress Report 2.Project Completion report 3.RED FLAG Report Templates have been prepared by the WSTF And remember: its all about quality and integrity!!! 11 Accounting and Reporting

Thank You 12 Accounting and Reporting