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Financial Memorandum

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This Financial Memorandum sets out certain aspects of the financial framework within which AFBI is required to operate. The terms and conditions set out in the combined Management Statement and Financial Memorandum may be supplemented by guidelines or directions issued bythe Department of Agriculture and Rural Development (DARD) or the Minister in respect of the exercise of any individual functions, powers and duties of AFBI.

Content

  • Introduction
    • Financial Memorandum
  • AFBI's Income and Expenditure - General
    • The Departmental Expenditure Limit (DEL)
    • Expenditure not Proposed in the Budget
    • Procurement
    • Competition
    • Best Value for Money
    • Timeliness in Paying Bills
    • Novel, Contentious or Repercussive Proposals
    • Risk Management/Fraud
    • Wider Markets
    • Fees and Charges
  • AFBI's Income
    • Grant-in-aid
    • DEL Control Totals
    • Income from Sale of Goods or Services
    • Fine, Taxes and Other Receipts
    • Interest Earned
    • Un-forecast Changes in In-year Income
    • Reserves
    • Build-up and Draw-down of Deposits
    • Proceeds from Disposal of Assets
    • Gifts and Bequests Received
    • Receipts from the EC
    • Borrowing
  • Expenditure on Staff
    • Staff Costs
    • Pay and Conditions of Service
    • Pensions; Redundancy/Compensation
  • Non-Staff Expenditure
    • Economic Appraisal
    • Capital Expenditure
    • Transfer of Funds within Budgets
    • Virement
    • Lending, Guarantees, Indemnities; Contingent Liabilities / Letters of Comfort
    • Grant or Loan Schemes
    • Gifts Made, Losses and Other Special Payments
    • Leasing
    • Public/Private Partnerships
    • Subsidiary Companies and Joint Ventures
    • Financial Investments
    • Unconventional Financing
    • Commercial Insurance
    • Payment/Credit cards
    • Hospitality
    • Use of Consultants
  • Management and Disposal of Fixed Assets
    • Register of Assets
    • Disposal of Assets
    • Recovery of Grant-financed Assets
  • Budgeting Procedures
    • Setting the Annual Budget
    • General Conditions for Authority to Spend
    • Providing Monitoring Information to DARD
  • Banking
    • Banking Arrangements
  • Compliance with Instructions and Guidance
    • Relevant Documents
  • Review of Financial Memorandum
    • Annex Delegated Expenditure Limits