Fund Use Guidelines
Climate Change Trust Fund (CCTF) is used in accordance with the “Guidelines for Project Formulation, Processing, Approval, Revision, Implementation, Release and Use of Fund of the Projects of the Government, Semi-government and Autonomous Organizations under Climate Change Trust Fund”. As per the said Guidelines, the financial management of CCTF projects is administered through observance of existing government financial rules. For all procurements of CCTF projects, the compliance with Public Procurement Act, 2006 and Public Procurement Rules, 2008 is mandatory.
Some key provisions of the Guidelines
- The Project Director will submit financial statement in the manner prescribed by the Controller General of Accounts to the authority of Climate Change Trust Fund through the chief of the implementing Agency and the implementing ministry.
- If the released fund remains unspent the reason must be explained;and it has to be certified that the releasable money can be spent within the stipulated duration of the project.
- The payment of bills can be made against the voucher after the procurement is done.
- The accounting procedure of the revenue budget of the Government must be followed in maintaining the accounts of the projects.
- The financial regulations and circulars issued by the Finance Division of the Ministry of Finance will be applicable in administering the expenses of training, seminars and workshops.
- Rental expenses of project office cannot be paid from the project fund. In special cases, if needed, the circular concerning renting of houses owned by private individuals/organizations issued by the Planning Division, Ministry of Planning has to be followed.
- No vehicle can be procured from the Trust Fund for the daily transportation of the project employees to their office. However, to monitor the project work in field level, vehicle can be rented. In special cases, if needed for project implementation, the notification concerning the allocation of petrol or octane and the conversion to CNG-powered vehicle issued by the transport branch of the Ministry of Public Administration will be applicable.
- The unspent money of an installment should normally be adjusted with the proposal for fund release of next installment. But the reason why it could not be spent has to be explained while sending the proposal for fund release to BCCT.
- Monthly and quarterly expenditure reports must be sent to BCCT regularly in the specified form.
- Legal action will be taken against the concerned persons whenever any irregularities are observed in the financial management of a project.
- The money that remains unspent after the completion of a project must be returned to BCCT through cheque.
- Project Director is required to send the project closing report to the BCCT through implementing ministry within 60 days of completion of a project.
Item wise Breakdown of Cost:
- The project director will prepare a breakdown of project cost in the prescribed format in accordance with theannual item wise plan of actionand will send to BCCT with the approval of the implementing ministry at the beginning of each fiscal year (by 15 July). However, in case of a new project, the project director will prepare the breakdown within 15 days of his or her appointment and will send to BCCT with the approval of the implementing ministry.
- The allocation is disbursed in four equal installments in each projects duration .
- The Project Directories required to include a physical and financial progress report of the project with application for disbursement of second, third and fourth installments.
- The application for the all installment must be submitted with recommendation of the implementing ministry.
- If required, BCCT can release two or three installments at a time during the second or third installment respectively.However, the approval of the Trustee Board in necessary case of releasing four installments at a time.