Effective: April 1, 2016
Section: Purchasing Cycle
Administrator: Office of the Comptroller General
Applicability: GNWT Departments and Public Agencies

POLICY

Recoveries related to an overpayment by a GNWT Department or Public Agency shall be invoiced promptly and coded against the account to which the expenditure was charged if discovered in the same fiscal year, or to Recovery of Prior Year Expense if discovered in a subsequent fiscal year.

PURPOSE

To set out occurrences where an expenditure may be credited for a related recovery and where the recovery would be considered a Recovery of Prior Year Expense.

SCOPE

Applies to recoveries of overpayments.  This policy does not apply to the Northwest Territories Hyrdo Corporation, the Northwest Territories Power Corporation, Northwest Territories Business Development and Investment Corporation, and the Workers’ Safety and Compensation Commission.

RESPONSIBILITIES

Deputy Head

Ensure that any required accounting is properly reflected, including the requirement that an invoice be generated.

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
  • ss. 57, 58 – Collection
  • s. 134 – Recovery of Money and Property
  • s. 135 – Statement of account

INTERPRETATION  BULLETINS