Question Tag: Revenue Control

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  • 4 Marks

PSAF – Nov 2020 – L2 – Q5c – Public sector fiscal planning and budgeting

State and explain four internal control systems that Assemblies can implement to effectively control their revenues.

Revenues of Local Government Authorities are often limited. Therefore, there is a need for the Assemblies to institute adequate internal controls over their revenues to improve their financial health.

Required:
State and explain FOUR (4) internal control systems that the Assemblies can put in place to effectively control their revenues. (4 marks)

  • Immediate Banking of Collections: Ensure that all revenue collected is banked promptly to prevent misuse. This can include direct deposits by payers into the Assembly’s account.
  • Accurate Assessment and Collection: Identify all potential revenue sources and ensure accurate levying. Implement electronic systems to track and collect revenue efficiently.
  • Proper Custody of Value Books: Ensure that value books (e.g., receipt books) are stored securely and issued only to authorized personnel. Maintain proper records of these books.
  • Regular Record Keeping: Assign responsible officers for maintaining up-to-date records of revenue transactions. Implement approved accounting software for better accuracy and transparency.
  • 4 Marks

PSAF – May 2016 – L2 – Q3e – Public procurement

This question addresses the procedures established by Local Authorities to control revenue.

Revenue control describes the various checks put in place to ensure that all moneys due are received and accounted for.

Required: Explain FOUR procedures established by Local Authorities to control revenue.

The Local Authorities control revenue through the following procedures:

  • Ensuring revenues are administered in compliance with relevant laws.
  • Maintaining a rating system to identify and regularly revise rateable persons and properties.
  • Ensuring that revenue collected is adequately protected while in custody and promptly deposited in bank accounts.
  • Ensuring all revenue received or receivable is properly recorded in the appropriate books of account.
  • Ensuring that there is a rating system in place to ensure that the Assembly’s rateable
    persons and properties within the Assembly area are identified and that a
    valuation list is maintained and revised regularly in accordance with Section
    96 (8) of the Local Government Act.
  • Ensuring that adequate procedures and operational systems are in place to capture all
    such public revenues;
  • Revenue Officers are required to prepare and sign Daily Collections
    Summaries (DCS);
  • Based on the DCS, revenue officers are required to prepare pay-in-slips and
    pay revenue collections intact into the District Assembly’s designated Bank
    Accounts.

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