Economic Procedure and Financial Accountability Act, 2019

Added by the first amendment.(r1) "Line Ministry Budget Information System (LMBBIS)" means the information system implemented by the Ministry of Finance for budget formulation and implementation.

(s) "Subordinate Office" means an office under the authority of the concerned office.

(t) "Office of the Comptroller General" means the body that, subject to this Act and the rules made under this Act, operates and manages the Federal Consolidated Fund and other Government Funds, maintains records of movable and immovable government property and reports, conducts or causes to conduct financial administration, direction, control and internal audit, and prepares or causes to prepare consolidated financial statements of the Federal, Provincial and Local Level Governments.

(u) "Planning Commission" means the National Planning Commission.

(v) "Accounting Officer" means the Secretary acting as the administrative head responsible for operating the financial administration of his/her own and subordinate offices, preparing the annual budget and delegating authority to receive budget disbursement and incur expenditure, maintaining or causing to maintain accounts, preparing or causing to prepare financial statements, arranging for internal and final audit of appropriations, revenue, deposits and kind, regularizing or causing to regularize irregularities, recovering or causing to recover, writing off or causing to write off, and achieving or causing to achieve results according to the targets set by the budget and programs.

(w) "Accounts" means the initial entry slips (vouchers) maintained according to prevailing law to show details of transactions, and the records, ledgers, books etc. prepared on that basis, and supporting documents verifying or confirming such transaction, and financial statements and reports prepared on that basis, and such term also includes records maintained through electronic means or electronic records verifying transactions.

(x) "Appropriation" means the amount appropriated for expenditure for specified services and functions under different headings to different offices by the Appropriation Act, Vote on Account Act, or Advance Spending Act, and such term also includes amounts appropriated pursuant to the Supplementary Appropriation Act and Vote on Account Act.

(y) "Fiscal Responsibility" means the responsibility, accountability and compliance towards the results obtained from, as well as the obligation to bear, in order to improve financial outcomes and maintain fiscal discipline, transparency and accountability.

(z) "Financial Statement" means a statement prepared according to prescribed accounting standards, showing the aggregate position of transactions during a specified period, clearly indicating headings, for the purpose of showing the overall situation based on accounting standards approved by the Government of Nepal, and such term also includes budget estimates, disbursement, expenditure, income, deposit, and receipt and payment statements showing outstanding amounts, as well as other prescribed statements and related accounting notes and disclosures.

(aa) "Federal Consolidated Fund" means the Federal Consolidated Fund pursuant to Article 116 of the Constitution.

(ab) "Secretary" means the Secretary of a Ministry, and such term also includes, in the case of a Constitutional Body or Agency, the Secretary or administrative head of such Constitutional Body or Agency; in the case of a central level Secretariat or Commission of the Government of Nepal, the Secretary of such Secretariat or Commission; and also includes the Comptroller General.

(ac) "Settlement" means the amended by the first amendment. clearance and write-off work conducted on the basis of explanations or responses submitted along with attached evidence and documents regarding irregularities pointed out in internal or final audit reports, and such term also includes settlement based on suggestions or directives received from the Public Accounts Committee of the House of Representatives.

(ad) "Public Office" means an office with legally recognized public work, duties and rights, whether the remuneration is fixed or not, to which a person is appointed, elected or nominated in any form.

(ae) "Constitution" means the Constitution of Nepal.

(af) "Local Consolidated Fund" means the Local Consolidated Fund pursuant to Article 229 of the Constitution.