Section 55, The Government Budgeting and Accountability Act, 2005

(1) At the close of business of the last working day ofeach financial year, all appropriations, warrants and authorizations for expenditure shall lapse and all treasury cash accounts shall be balanced off and no further cash disbursements shall be made. (2) All subsequent cash transactions shall form part of the public accounts of the new financial year. (3) Except as provided in any enactment, no moneys shall be transferred from an appropriation to a deposit account or to any other agency for the purpose of meeting payments after the close of a financial year. (4) Where any payment has been properly charged to an advance account before the end of the financial year, or has been incorrectly charged to an appropriation account, the Accountant- General may adjust such payments to the correct appropriation account after the end of the financial year as if the expenditure authorisations had not lapsed. (5) Two weeks before the end of the financial year, the Accountant-General shall inform the vote controllers of the date of final closure of the accounts and the vote controllers shall ensure that their own accounts are in agreement with the public accounts before the date of final closure. Closure of 36 37 No. 3 Government Budgeting and Accountability Act 2005No. 3 Government Budgeting and Accountability Act 2005 (6) On the date of the final closure of the public accounts, the Accountant-General shall close all revenue and expenditure accounts for the financial year by transferring the balances on these accounts to the general revenue balance of the Consolidated Fund