Effective: April 1, 2016
Section: Banking & Treasury
Administrator: Office of the Comptroller General
Applicability: GNWT Departments 

POLICY

All departments are to utilize the GNWT’s contracted banking facility and record cash receipts and disbursements within the GNWT’s System for Accountability and Management (SAM), unless otherwise approved by the Comptroller General or delegate.

PURPOSE

To achieve efficiencies and reduce the costs and risks associated with using and maintaining multiple interfaces with SAM.

SCOPE

Applies to all bank accounts operated by GNWT Departments, Special Purpose Funds or Revolving Funds.

RESPONSIBILITIES

Deputy Head

Ensure that all banking arrangements are authorized and proper controls are in place to ensure that transactions are recorded on a timely basis.

Deputy Minister of Finance

Establish bank accounts.

Comptroller General

May approve any Interpretation Bulletins associated with this policy.

Financial Management Board

May issue a directive respecting the financial management or financial administration of a Public Agency.

AUTHORITIES and REFERENCES

• Financial Administration Act (FAA)
  • s. 10 – Board directives
  • s. 43 – Public Money, Banking and Records
  • s. 44 – Public agency bank accounts
  • s. 92 – Disbursements
  • s. 93 – Prohibiting a disbursement
  • s. 94 – Disbursement of Public Money
  • s. 101 – 106 – Special Purpose Funds

INTERPRETATION BULLETINS