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IMFO

INSTITUTE OF MUNICIPAL FINANCE OFFICERS

BEST PRACTICE MANUAL

It should be stressed , that the Manual is a generic document for Municipalities to use and to fine-tune to best suite their own ciscumstances. The main objective of the Local Government Financial Best Practice Manual is to provide advice and guidance to political office bearers in municipalities, Municipal Managers and Chief Financial Officers on the application of prescribed municipal legislation, accounting standards and accounting best practice. The manual will serve as a working document updated and modified as legislation and frameworks change.

Best Practice Manual

A	Contents
AB	Introduction
AD	List of Legislation/References
AE	Acknowledgements
AF	Points of Contention

B	CORPORATE GOVERNANCE

C	DELEGATION OF POWERS

E	AUDITOR GENERAL ACT

F	DIVISION OF REVENUE ACT

BANKING AND INVESTMENTS

POLICY:
GA	Banking and Investment Policy
CHECKLIST:
GB	Banking and Investment
PROCEDURES:
GC	Investment Procedures
GD	Cash Management Procedures
GE	Loans Procedures
GF	Bank Reconciliation Procedures
GG	Petty Cash Procedures
FLOWCHARTS:
GH	Investment – Page 1
GI	Investment – Page 2
GJ	Cash Management
GK	Loans
GL	Bank Reconciliation
GM	Petty Cash

TARIFFS/RATES/REGIONAL LEVIES

POLICY:
HA	Tariff Policy
HB	Rates Policy
HC	Credit Control Policy
HD	Indigent Support Policy
CHECKLIST:
HE	Tariffs
HF	Rates
HG	Credit Control
HH	Indigency
PROCEDURES:
HI	Regional Levies Procedures
HJ	Electricity Tariff Procedures
HK	Water Tariff Procedures
HL	Debtors Procedures
FLOWCHARTS:
HM	Regional Levies – Page 1
HN	Regional Levies – Page 2
HO	Regional Levies – Page 3
HP	Regional Levies – Page 4
HQ	Electricity Tariff – Page 1
HR	Electricity Tariff – Page 2
HS	Water Tariff – Page 1
HT	Water Tariff – Page 2
HU	Debtors

SUPPLY CHAIN MANAGEMENT

POLICY:
IA	Supply Chain Management Policy
CHECKLIST:
IB	Supply Chain Management
PROCEDURES:
IC	Purchasing Procedures
ID	Stores Procedures
IE	Creditor Payment Procedures
FLOWCHARTS:
IF	Purchasing
IG	Stores
IH	Creditor Payment

BUDGETS

POLICY:
JA	Integrated Development Planning
JB	Performance Management
JC	Budgeting Policy
CHECKLIST:
JD	Budgets
PROCEDURES:
JE	Budgeting Procedures (General)
FLOWCHARTS:
JF	Integrated Development Planning

FIXED ASSET MANAGEMENT AND ACCOUNTING

POLICY:
KA	Fixed Asset Management and Accounting Policy
CHECKLIST:
KB	Assets
PROCEDURES:
KC	Fixed Asset Management and Accounting Procedures
FLOWCHARTS:
KD	Fixed Asset Management and Accounting

ANNUAL FINANCIAL STATEMENTS

POLICY:
LA	GAMAP/GRAP Framework
PROCEDURES:
LB	Annual Financial Statements General Procedures
FLOWCHART:
LC	Annual Financial Statements

STAFF POLICIES

POLICY:
MA	Travel and Subsistence Policy
CHECKLIST:
MB	Travel and Subsistence
PROCEDURES:
MC	Travel and Subsistence Procedure

N	RISK MANAGEMENT

BY LAWS

OA	Revenue
OB	Supply Chain

IMFO, PO Box 4003, Kempton Park, 1620; Telephone 011-394-0879 or E-mail ceo@imfo.co.za