Commission Regulation (EC) No 1054/94 of 5 May 1994 laying down detailed rules for the financial monitoring of programmes approved under Council Regulation (EEC) No 2080/92 instituting a Community aid scheme for forestry measures in agriculture

COMMISSION REGULATION  (EC) No 1054/94 of 5 May 1994 laying down detailed rules for the financial monitoring of programmes  approved under Council Regulation (EEC) No 2080/92 instituting a Community aid scheme for forestry  measures in agriculture
THE COMMISSION OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Community,
Having regard to Council Regulation (EEC) No 2080/92 of 30 June 1992 instituting a Community aid  scheme for forestry measures in agriculture  (1), and in particular Article 7 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 of the application of  Regulation (EEC) No 2080/92, such system 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 multiannual nature of certain commitments entered into under programmes approved  under Regulation (EEC) No 2080/92 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 entered  into under the programmes approved under Regulation (EEC) No 2080/92 and on short-term forecasts  updated regularly;
Whereas the measures provided for in this Regulation are in accordance with the opinion of the  Standing Forestry Committee,