Commission Regulation (EC) No 1404/94 of 20 June 1994 laying down detailed rules for the financial monitoring of programmes approved under Council Regulation (EEC) No 2079/92 instituting a Community aid scheme for early retirement from farming

COMMISSION REGULATION (EC)  No 1404/94 of 20 June 1994 laying down detailed rules for the financial monitoring of programmes  approved under Council Regulation (EEC) No 2079/92 instituting a Community aid scheme for early  retirement from farming
THE COMMISSION OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Community,
Having regard to Council Regulation (EEC) No 2079/92 of 30 June 1992 instituting a Community aid  scheme for early retirement from farming  (1), and in particular Article 10 thereof,
Whereas pursuant to Council Decision 88/377/EEC of 24 June 1988 concerning budget discipline  (2),  and in particular Article 6 thereof, the Commission must set up an effective early-warning system  in order to ensure that the agricultural guideline is respected;
Whereas a reliable system must be established for the financial monitoring or the application of  Regulation (EEC) No 2079/92; permitting reactions in the framework of the early-warning system for  budget discipline and estimates of the trend in expenditure affecting future budgets as a result of  the multi-annual nature of the commitments entered into under programmes approved under Regulation  (EEC) No 2079/92 and resulting in expenditure to be charged to the Community budget over several  years;
Whereas, to that end, the system of monitoring must be based on the individual undertakings made  under the programmes approved under Regulation (EEC) No 2079/92 and on short-term forecasts updated  regularly;
Whereas the decision approving the programmes fixes an amount to be part-financed for the period  1993 to 1997 which is subject to review on the basis of actual programme implementation, and it is  therefore necessary that each programme approved be monitored;
Whereas Commission Regulation (EEC) No 2061/93  (3) meets the above needs in part and should, in  the interests of clarity, be repealed and replaced by another one;
Whereas the measures provided for in this Regulation are in accordance with the opinion of the  Committee on Agricultural Structure and Rural Development,