Page 30 - DOF Annual Report 2018

30 Annual Report 2018 - Department of Finance 2017 Achievements
Several achievements were accomplished within this outputs group during 2017. Following are the highlights of those achievements:
Issued instructions of closing accounts and records for the financial year ending 31 December 2017, including the instructions and template for the preparation of the annual financial statements.
Modified the accounts tree linkages in coordination with strategic partners and in line with the International Economic and Functional Classification.
Approved the opening of bank accounts to manage the trust funds for a number of Government entities, and completed the creation of appropriate accounting items on the general ledger and the issuance of guidelines related to the management of such accounts in accordance with the provisions of Articles 20 and 21 of Law No. 1 of 2017.
Issued standard insurance policies for all Government Entities to insure their properties against risks that may be caused to assets and funds as well as other supporting insurances.
Followed-up and led the development, maintenance and management of electronic data and related reports according to the needs of users, including the management of all electronic financial systems related to the general ledger, payables, payroll, fixed assets, procurement, warehouses and projects, and conducted periodic audits and reviews of the automated financial system.
Continued supervision of the Military Retirement Affairs Department in accordance with the provisions of applicable laws and regulations.