Financial Regulations March 2010

TANZANIA OFFICIAL SEED
CERTIFICATION INSTITUTE
(TOSCI)
FINANCIAL REGULATIONS
Tabled for Approval of the Board of Diretor!
at the "
th
Ordi#ar$ Board %eeti#& held o#
'(
th
) '*
th
%arh+ ,-'-
PART ONE
'.- INTRODUCTION
'.' E!tabli!h/e#t of TOSCI
Tanzania Official Seed Certification Institute was established under
Seed Act No. 18, 200.
'., Board of Diretor!
!ein" the su#re$e "o%ernin" bod& of TOSCI, the !oard shall
o%ersee the #erfor$ance of the 'ana"e$ent, "uide the acti%ities of
the institute and shall a##ro%e all bud"ets, annual accounts, contracts
and recruit$ents. The !oard of (irectors shall act in accordance with
the dictates in Act No. 18 of 200.
'.0 F1#tio#! of TOSCI
In the Seeds Act No. 18 of 200 TOSCI has the $andate to
underta)e the followin" acti%ities*
+a, Conduct seed field ins#ection
+b, -ffect seed sa$#lin" and testin"
+c, Conduct seed ins#ections
+d, Accredit seed sa$#lin" and seed testin" laboratories
+e, Train seeds #roducers, seed ins#ectors and seed
anal&sts
+f, .iaise with other International Or"anizational Seed
Testin" Association +ISTA, on seed related issues
+", Carr& out %ariet& #erfor$ance tests
+h, Carr& out #re/and #ost control tests
+i, -nforce Seed Act 200 and #ro$ote self co$#liance b&
sta)eholders
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TOSCI Financial Regulations 2010 Edition
'.3 4o5er! of the Board
The business of TOSCI shall be $ana"ed b& the !oard of (irectors
in confor$it& with the #owers of TOSCI. The !oard shall not be
re0uired to e1ercise an& #ower out of the Act or outside what has
been a"reed at a for$al TOSCI !oard $eetin", sub2ect,
ne%ertheless, to an& re"ulation or #ro%isions %ariousl& #rescribed b&
the TOSCI !oard that shall in%alidate an& #rior re"ulation that would
ha%e been %alid if that re"ulation had not been $ade.
The !oard of (irectors $a& fro$ ti$e to ti$e 3 due to #ressin" and
challen"in" circu$stances / a##oint one or $ore of their bod& to the
office of (irector 4eneral or $a& a##oint an& #erson or bod&
cor#orate to $ana"e the TOSCI for such ter$ and at such
re$uneration +whether b& wa& of salar& or co$$ission, or
#artici#ation in #rofits, or #artl& in one wa& and #artl& in another, as
the !oard $a& consider fit. In this s#ecial case of the a##oint$ent of
a (irector 4eneral such a##oint$ent shall be sub2ect to
deter$ination, ipso facto, if the #erson ceases fro$ an& cause to be
a director of TOSCI.
The !oard of (irectors shall cause $inutes to be $ade in boo)s
#ro%ided for the #ur#ose of recordin"*/
a, all a##oint$ents of officers $ade b& the directors5
b, na$es of the (irectors #resent at each $eetin" of the
(irectors and an& Co$$ittee of the (irectors5
c, all resolutions and #roceedin"s at all $eetin"s of the
TOSCI, and of the (irectors, and of Co$$ittees of
(irectors, and e%er& director #resent at an& $eetin" of
directors or co$$ittee of directors shall si"n his na$e in
boo) to be )e#t for that #ur#ose.
'.6 Defi#itio#!7
In these 6e"ulations, unless otherwise #ro%ided for, and for all
#ur#oses of a##l&in" the$, the words i$#artin" sin"ular shall include
#lural and %ice %ersa, and words #ur#ortin" the $asculine "ender
shall include fe$inine
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7Accounting Manual8 shall $ean accountin" instructions, "uidelines,
#rocedures and standards for accounts of the TOSCI. It shall include
classification of accounts
7Accounting Person8 $eans an& #erson res#onsible for the
collection, recei#t, custod&, issue or #a&$ent or decision $a)in"
concernin" TOSCI9s $one&s, stores, sta$#s, #urchase orders,
in%est$ents, securities or ne"otiable instru$ents whether the
#ro#ert& of TOSCI or on de#osit with or entrusted to the TOSCI
7Accounting Officer8 $eans the (irector 4eneral of the TOSCI
char"ed with the dut& of accountin" for an& ser%ice in res#ect of
which funds ha%e been a##ro%ed b& the !oard of (irectors
7Appointing Authority8 $eans the !oard of (irectors or (irector
4eneral of the TOSCI as sti#ulated in TOSCI9s Staff Ser%ice
6e"ulations.
7Appointment8 $eans new en"a"e$ent, a##oint$ent on #ro$otion,
te$#orar& a##oint$ent, a##oint$ent on contract ter$s or an actin"
a##oint$ent
7Authorised Officer8 3 $eans an& officer desi"nated b& the (irector
4eneral of TOSCI and e$#owered to e1ecute such duties to the
e1tent of #owers sti#ulated in the instru$ent of a##oint$ent
7Authorised Expenditure8 shall $ean the e1#enditure in res#ect of
the Annual !ud"et either +o#eratin" or ca#ital, dul& a##ro%ed b& the
!oard of (irectors
7Basic Salary8 shall $ean the re$uneration #a&able to an e$#lo&ee
under the a##ro%ed TOSCI Sche$e of Ser%ice and Salar& Structure
:TOSCI8 $eans the Tanzania Official Seed Certification Institute
incor#orated under the Seed Act No. 18 of 200
7Board of irectors8 $eans the hi"hest or to#$ost or"an of TOSCI
constitutin" $e$bers a##ointed b& the 'inister and shall include an&
Co$$ittee of the !oard of (irectors e$#owered to act on behalf of
the !oard in an& $atter relatin" to the acti%ities of TOSCI
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7Capital E8pe#dit1re8 $eans e1#enditure $ade for the #ur#ose of
ac0uirin" land and buildin"s, $achiner&, #lant and e0ui#$ent,
furniture, %ehicles and other ite$s to be ca#italised in the TOSCI9s
accounts
7Chairman8 $eans the Chair$an of the !oard of (irectors of TOSCI
7irector of !inance9 $eans the officer a##ointed b& the !oard of
(irectors to ad$inister those functions of TOSCI related to financial
$atters and shall be the o%erall in/char"e of the accounts section or
de#art$ent
7irector "eneral8 $eans the Chief -1ecuti%e of TOSCI and
includes the #erson actin" or de#utisin" in that official ca#acit&
7epreciation8 is the reduced or write/off %alue of a fi1ed asset,
esti$ated as the residual %alue after deductin" the a"reed %alue
decline #ercenta"e on a strai"ht/line basis o%er their e1#ected useful
life of the asset
7Employee8 $eans an& #erson in the e$#lo&$ent of TOSCI on lon"
ter$ or contractual ter$s but does not include a casual wor)er
7Expatriate Employee8 $eans an e$#lo&ee en"a"ed on o%erseas
ter$s
7!unds8 $eans an& $onies recei%ed b& the TOSCI as re%enue or
an& other for$, e.g. a trust held whether te$#oraril& or otherwise
7!inancial #ear of TOSCI8 $eans the &ear startin" on 1st ;ul& and
endin" 0th ;une of the followin" &ear
7!inancial $egulations8 $eans a##ro%ed TOSCI9s financial
"uidelines which consist of a set of rules and #rinci#les "o%ernin"
financial $atters for enforce$ent of financial disci#line and control in
TOSCI
:"o%ernment8 $eans the Central 4o%ern$ent of the <nited
6e#ublic of Tanzania and includes .ocal 4o%ern$ent
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7&ead8 $eans #erson in char"e of a unit, section or de#art$ent of
the TOSCI
7&ead Office8 $eans the =ead0uarters of the TOSCI in Tanzania
7'oss8 $eans an& loss includin" cash loss, theft, fraudulent #a&$ent,
bad debt, $isa##ro#riation, $isuse or destruction of TOSCI #ro#ert&

7'ocal Employee8 $eans an& e$#lo&ee en"a"ed on local ter$s
7Management8 $eans the (irector 4eneral of the TOSCI, =eads of
(e#art$ent and su##ortin" staff as #er TOSCI structure who are
e$#owered to ta)e decisions on the da&/to/da& runnin" of TOSCI on
behalf of the !oard of (irectors
7O%er expenditure8 $eans e1#enditure incurred in e1cess of
bud"etar& #ro%isions
7$ecurrent Expenditure or $e%enue Expenditure8 $eans
e1#enditure $ade in #a&$ent of salaries and wa"es, #a&$ent for
su##lies and ser%ices +includin" insurance #re$iu$s, fees, and dues,
ta1es, duties i$#osed b& the 4o%ern$ent, interest, co$$it$ent fees,
co$$issions and char"es and all other e1#enditure relatin" to TOSCI9s
da& to da& o#erations e1cludin" ca#ital e1#enditure
7$e%enue8 $eans an& inco$e earned b& wa& of rent, co$$ission or
other sources
7Stale Che(ue8 $eans a che0ue not #resented to the ban) after
$ore than si1 $onths fro$ the date of issue
7Surcharge8 shall $ean an& disci#linar& action a"ainst an e$#lo&ee
of TOSCI to defra& an& loss wholl& or #artiall&
7Tender8 $eans an offer, #ro#osal or 0uotation $ade b& a su##lier or
contractor or consultant in res#onse to a re0uest b& the TOSCI
7)nauthorised Expenditure8 shall $ean the e1#enditure $ade
without the #rior a##ro%al or authorit& of the !oard of (irectors.
7*ages8 $eans the re$uneration #a&able to "eneral staff e$#lo&ed
either on dail&, wee)l& or $onthl& basis and not included in the
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re"ular #a&roll of TOSCI
'." I#terpretatio#
The inter#retation of these >inancial 6e"ulations rests with TOSCI9s
'ana"e$ent. >urther "uidance shall be obtained fro$ the rele%ant
decisions of the !oard of (irectors $ade fro$ ti$e to ti$e. ?here
the @ro%isions of these 6e"ulations ha##en to be at %ariance with the
#ro%isions of an& le"islation or 4o%ern$ent circular, the ter$s of
such le"islation or 4o%ern$ent circular shall #re%ail to the e1tent of
such %ariance.

'.( Sope
These re"ulations shall be cited as the Tanzania Official Seed
Certification Institute >inancial 6e"ulations. The& shall "o%ern the
financial and ad$inistration actions of TOSCI and are co$#li$entar&
to TOSCI9s Staff and Ser%ice 6e"ulations, Sche$e of Ser%ice and
Salar& Structure and other rules issued b& TOSCI. The& are issued to
direct actions of all e$#lo&ees res#onsible for dealin" with TOSCIAs
finances with re"ard to authorisation, a##ro%al, custod&, recei#ts and
#a&$ents, whether of a re%enue or ca#ital e1#enditure nature. The
(irector 4eneral $a&, sub2ect to the a##ro%al of the !oard of
(irectors, a$end +i.e. e1tend, $odif& or a$#lif&, these re"ulations
fro$ ti$e to ti$e as $a& be considered necessar& b& issuin" detailed
directions and instructions which $a& ha%e the sa$e authorit&.
'.* Ta#;a#ia Offiial Seed Certifiatio# I#!tit1te %a#1al!
The >inancial 6e"ulations shall be i$#le$ented in con2unction with
the e1istin" $anuals and an& other $anuals that shall be introduced
fro$ ti$e to ti$e b& TOSCI. It is the res#onsibilit& of the (irector
4eneral and =eads of (e#art$ents to ti$el&, co$#letel&, efficientl&
and effecti%el& #ut into o#eration the followin" $anuals*
+a, Internal Control 'anual
+b,In%est$ents 'anual
+c, Accountin" 'anual
+d, >i1ed Assets 'anual
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+e, 'ana"e$ent Infor$ation 6e#ort 'anual
+f, Stores and @urchases 6e"ulations
'.< Fi#a#ial =ear

>inancial Bear of the TOSCI $eans the &ear startin" fro$ 1
st
;ul& and
endin" 0
th
;une.
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4ART T>O
,. 4O>ERS OF ATTORNE=
,.' %i#i!tr$ of A&ri1lt1re Food Se1rit$ a#d Cooperative!

+a, The 'inistr& of A"riculture >ood Securit& and Coo#erati%es is
the #arent 'inistr& of TOSCI
+b, The 'inister shall a##oint the Chair$an of the !oard of
(irectors and the 'inister shall a##oint not $ore than four other
(irectors fro$ a$on"st #ersons who are in his o#inion,
e1#erienced in the #roduction or $ar)etin" of a"riculture
#roducts, in ban)in" or finance institutions, in #ublic
ad$inistration, in econo$ics and #lannin"
+c, The !oard of (irectors shall, u#on a##ro%al of the 'inister,
a##oint the (irector 4eneral who shall be the Chief -1ecuti%e
of the TOSCI and Secretar& to the !oard of (irectors.
+d, The 'inister $a& re$o%e fro$ office an& $e$ber of the !oard
of (irectors
,., Board of Diretor!
0.1 The a##oint$ent of (irectors of TOSCI shall be "o%erned b& the Act
establishin" TOSCI
0.2 The (irectors shall retire or be re$o%ed fro$ office in accordance
with the Act establishin" TOSCI
0. The 0uoru$ necessar& for the transaction of business of the !oard
of (irectors $eetin" shall be half of the $e$bers in office, and the
!oard shall $eet at least four ti$es a &ear and at such ti$es as $a&
be necessar& or e1#edient for the transaction of business
0.C The fi1in" of the seal of the TOSCI shall be authenticated b& the
si"natures of the Chair$an of the !oard of (irectors or an& other
$e$ber s#ecificall& authorised b& the !oard of (irectors to act in
that res#ect and one other #erson authorised s#ecificall& for the
#ur#ose
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0.D The !oard of (irectors shall la& down #olicies and #ro"ra$$es of
wor) for i$#le$entation b& TOSCI where $a2or decisions on
financial and ad$inistrati%e $atters shall be re0uired to be $ade as
referred to the !oard b& the (irector 4eneral.
,.0 Chair/a# of the Board of Diretor!
0.1 ?here an& $atter in%ol%es #olic& decisions, and where for want of
ti$e the !oard of (irectors cannot $eet, the Chair$an of the !oard
of (irectors shall be consulted b& the (irector 4eneral for
a##ro#riate decisions
0.2 All $atters on which the decision or rulin" of the Chair$an is
obtained shall be re#orted to the !oard of (irectors in the
subse0uent $eetin" for ratification
2..2 The Chair$an carries the o%erall res#onsibilit& to the 4o%ern$ent for
ensurin" that TOSCI functions within the a$bit of the Act
establishin" TOSCI
,.3 Diretor Ge#eral
i. The (irector 4eneral, bein" the Chief -1ecuti%e and
Accountin" Officer of TOSCI, is res#onsible to the !oard of
(irectors
ii. It will be the res#onsibilit& of the (irector 4eneral to ensure
that the (e#art$ent of >inance $aintains #ro#er boo)s of
accounts and records cul$inatin" in the #ro%ision of financial
state$ents in accordance with such standards, o#inions and
reco$$ended #ractice as ha%e been #ronounced or a"reed
u#on b& the #rofessional accountin" bodies reco"nized b&
N!AA, in #articular those accountin" standards issued b&
International Accountin" Standards +IAS, and International
>inance 6e#ortin" Standard +I>6S, ado#ted b& N!AA
iii. The (irector 4eneral shall be res#onsible for ensurin" that,
under the direction of the (irector of >inance, TOSCI =ead
Office and all (e#art$ents ado#t a unifor$ accountin" s&ste$
with a %iew to facilitatin" the #resentation of results of the
&ear9s o#erations and the financial #osition of the whole "rou#
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in the for$ of a consolidated financial state$ent
i%. The (irector 4eneral shall #resent to the !oard of (irectors
annual re#orts of the TOSCI not later than si1 +E, $onths after
the end of the #recedin" >inancial Bear and the re#ort on the
!ud"et before the start of the >inancial Bear

,.6 ?ead of Ao1#t! Depart/e#t
The (irector of >inance shall be the =ead of accounts de#art$ent
and will be res#onsible for*/

2.D.1 @ro#er and ti$el& i$#le$entation of accountin" s&ste$s
and #rocedures, a$on" the$ bein"*
+a, Accountin" 'anual
+b, Stores and @urchase 6e"ulations
2.D.2 'aintainin" ade0uate, accurate a##ro#riate and u#/to/date
boo)s of accounts, subsidiar& boo)s, led"ers, re"isters
and $e$orandu$ boo)s
2.D. Assistin" in the e$#lo&$ent of 0ualified and e1#erienced
accounts #ersonnel
2.D.C 'aintainin" #ro#er records to account for all t&#es of cash
recei#ts, cash disburse$ent, current assets, fi1ed
assets, owners9 e0uit& and liabilities
2.D.D Ta)in" ade0uate and a##ro#riate insurance co%ers for all
current assets and fi1ed assets at re#lace$ent costs
a"ainst losses and hazards li)e fire, theft,
e$bezzle$ent, dishonest& of staff, loss of #rofit and
accident
2.D.E O#eratin" TOSCI9s ban) accounts as one of the
si"natories authorized b& the !oard of (irectors
2.D.F 'a)in" sure that all the ban) si"natories of TOSCI are
dul& authorized b& the !oard of (irectors
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2.D.8 -nsurin" the correctness and a##ro#riateness of all
#a&$ents $ade to e$#lo&ees and outsiders
2.D.G -nsurin" that (ebit Notes are raised correctl& and
#ro$#tl& for clai$s due to the TOSCI fro$ custo$ers,
e$#lo&ees and an& other #arties
2.D.10 Ta)in" a %i"ilant follow3u# for the reco%er& of o%erdue
debts and ad%ance #a&$ents for the #urchase of
$aterialsHser%ices
2.D.11 -ffectin" ti$el& #a&$ents of statutor& and contractual
debts so as to a%oid #enalties5 ti$el& #a&$ent of all
debts ai$in" to $aintain TOSCI9s "ood i$a"e5 and
ti$el& #a&$ents to e$#lo&ees in order to sustain their
$orale and "ood industrial relations
2.D.12 Ad%isin" the (irector 4eneral to in%est sur#lus cash in
hi"hest interest bearin" de#ositsHsecurities +with due
consent of the TOSCI !oard of (irectors,
2.D.1 -nsurin" that no #a&$ent is $ade without #rior co%erin"
a##ro%al of the #ro#er authorit& and #ro%ision in the
bud"et
2.D.1C -1ercisin" strict su#er%ision of the accountin" #ersonnel
and $aintainin" sufficient chec)s a"ainst an& occurrence
of e$bezzle$ent, fraud, theft or carelessness
2.D.1D 6es#ondin" ade0uatel& and #ro$#tl& to all 0ueries and
obser%ations raised b& -1ternal Auditors
2.D.1E Sub$ittin" to the -1ternal Auditors all re0uired records,
returns, boo)s of accounts, docu$ents, and an& other
infor$ation re0uired for the #erfor$ance of their duties
2.D.1F -nsurin" ti$el& sub$ission to the (irector 4eneral each
$onth, not later than the 1Dth of the followin" $onth, the
followin"*
+a, 6e%enue -1#enditure State$ent showin"
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co$#arison of actual e1#enditure a"ainst the
a##ro%ed bud"et
+b, 'ar)et return
+c, Co#& of cash I$#rest and !an) State$ent
+d, !an) 6econciliation State$ent
+e, (ebtors A"in" Schedule
+f, Schedule of #re#aid recei%able $aterials
+", Creditors A"in" Schedule
+h, Inco$e and -1#enditure State$ent co$#arin"
actual inco$es and e1#enditures with the
a##ro%ed bud"et
+i, !alance Sheet
+2, Cash >low State$ent
+), Ca#ital -1#enditure State$ent showin"
co$#arison of actual e1#enditures with bud"et
2.D.1D @a&in" in ad%ance to e$#lo&ees that are #roceedin" on
authorized lea%e, a$ounts of $one& within, but not in
e1cess of each e$#lo&ee9s accrued entitle$ents for
wa"es or salaries and allowances, the later as
deter$ined b& a##ro#riate directi%es
2.D.1E @a&in" ad%ances to TOSCI e$#lo&ees, in the su$s
a##lied for under s#ecial circu$stances and %alid
reasons, #ro%ided that the a$ount to be #aid is within the
e$#lo&ee9s accrued net entitle$ents for salar& or wa"es
and that the allowances refer to the $onth in which the
ad%ance #a&$ent is to be effected
2.D.1F Ta)in" re0uisite or con%enient action to #erfor$ the
duties entrusted to hi$ sub2ect that he shall not e1ecute,
or otherwise enter into an& contract or a"ree$ent
whether written or oral, that binds TOSCI, or which has
the effect of co$$ittin", or #ur#ortin" to co$$it TOSCI9s
funds or #ro#erties, or create an obli"ation e1#ressed or
i$#lied thereon
2.D.18 -nsurin" that TOSCI has ade0uate and a##ro#riate
#h&sical facilities for the safe custod& of / a$on" $an&
others / cash, %aluable docu$ents, fuel, oils, s#are #arts
and fi1ed assets
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2.D.1G -nsurin" that no Accountin" @erson in TOSCI shall be
relie%ed of an& #art of the abo%e listed res#onsibilities b&
%irtue of his de#utation to his subordinates an& duties
that he should hi$self #erfor$.

4ART T?REE
0. BUDGETS AND BUDGETAR= CONTROL

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0.' The A##1al B1d&et
0.'.' Defi#itio#
A bud"et is a #lan 0uantified in $onetar& ter$s, #re#ared and
a##ro%ed #rior to the be"innin" of a >inancial Bear. It shows
inco$e #lanned to be "enerated and e1#enditure to be incurred
durin" a &ear and the ca#ital to be e$#lo&ed in order to attain "i%en
ob2ecti%es. Thus the essence of the bud"et #re#aration lies in
consideration of the #articulars that follow.

0.'., B1d&et 4roe!!+ Co#trol a#d G1ideli#e!
>or #ur#oses of e1ercisin" financial disci#line and control, it is
necessar& to forecast the inco$e and e1#enditure on a scientific
basis ta)in" into account the actual recorded in the #ast, the
current situations, future trends and wor) #ro"ra$$e.
0.'.0 Short a#d Lo#& Ter/ B1d&et!
!ud"ets are re0uired to be #re#ared 0ualitati%el&, 0uantitati%el& and
financiall& as $a& be a##ro#riate, on both recurrent and ca#ital
ite$s for short #eriods of u# to one &ear as re0uired b& the
4o%ern$ent and other su##orti%e authorities. As a $atter of
o#erational #ractice and sound #lannin", lon" ter$ bud"ets of
three to fi%e &ears +)nown as Strate"ic @lans, shall also be
#re#ared.
0.'.3 B1d&eti#& Ativit$ a#d B1d&et G1ida#e Letter
The bud"etin" acti%it& shall be started b& a bud"et "uidance letter
issued b& the (irector 4eneral at least four $onths before the close
of the &ear outlinin" the 4o%ern$ent9s #olicies, "eneral econo$ic
conditions, "uidelines on how to bud"et and bud"et ti$e/table.
0.'6 B1d&et Co//ittee
The !ud"et Co$$ittee shall consist of the (irector 4eneral +as
Chair$an,, =ead of Accounts (e#art$ent +as Secretar&,, =eads of
other (e#art$ents +as $e$bers, and an& sectional =ead b&
e1#ress in%itation of the (irector 4eneral as circu$stances $a&
re0uire fro$ ti$e to ti$e.
0.'" Re!po#!ibilitie! of eah ?ead! of Depart/e#t@U#it
It is the res#onsibilit& of each =ead of (e#art$ent or other unit to
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#re#are an a##ro#riate bud"et for the (e#art$entH<nit in a for$at
a##ro%ed b& TOSCI.
0.'(. !ud"ets shall be full& su##orted b& unit costs, total costs and re%enue
and a su$$ar& of tar"ets to be achie%ed durin" the &ear shall be
clearl& indicated. All assu$#tions re"ardin" the %arious tar"ets
should be shown.
0.'*. The =ead of the Accounts (e#art$ent shall obtain forecasts and
esti$ates for the annual !ud"et fro$ each de#art$entHunit and
consolidate the$ into the TOSCI Annual !ud"et for consideration
b& the !ud"et Co$$ittee before sub$ission to the !oard of
(irectors for consideration and a##ro%al
0.'<. The TOSCI Annual !ud"et $ust be a##ro%ed b& the !oard of
(irectors before the closin" of the >inancial Bear.
0.,-. It is the res#onsibilit& of the (irector of >inance to e1ercise strict
financial control b& forecastin" the recei#ts and #a&$ents in
ad%ance follow u# collections and $a)e #a&$ents accordin" to the
#lans. The cash flow forecasts hel# to identif& une1#ected #eriods
of cash shortfalls within the bud"et #eriod and, hence, to $a)e
earl& arran"e$ents for te$#orar& financial acco$$odation
facilities.
0., ESTI%ATES OF REAENUE AND EB4ENDITURE
The #resentation of the esti$ates of 6e%enue and -1#enditure
shall be su##orted b& the followin"*
+a, Su$$ar& re%iew of the !oard9s bud"etar& #erfor$ance of
#re%ious &ears
+b, Critical assu$#tions on which the followin" &ear9s bud"et is
based
+c, 6e%enue -1#enditure !ud"et
+d, Ca#ital -1#enditure
+e, @ro2ected !alance Sheet
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+f, @ro2ected Inco$e and -1#enditure State$ent
+", Cash >low State$ent
+h, Sources of funds bud"et
+i, 'an#ower !ud"et
+2, (e#art$ents !ud"ets Su$$ar&
+), @urchases !ud"et Su$$ar&
+l, >orei"n Currenc& 6e0uire$ents5 and
+$, Seed certification acti%ities inco$e and e1#enditure
#ro2ections.
0.0 B1d&etar$ 4erfor/a#e Revie5
..1 The (irector of >inance shall $a)e a re%iew of the 6e%enue
!ud"et, Ca#ital !ud"et and Cash >low >orecasts and #resent a
consolidated re#ort to 'ana"e$ent at least 0uarterl& b&
co$#arin" the actual need with the esti$ates, identif& the reasons
for an& %ariations and $a)e a##ro#riate reco$$endations for
actions to be ta)en
..2 The (irector of >inance shall $aintain detailed records with re"ard
to all t&#es of e1#enditure. ?hene%er the actual e1#enditure
e1ceeds or is li)el& to e1ceed the bud"et, the #osition shall be
brou"ht to the attention of the (irector 4eneral as well as to the
=ead of the de#art$ent and all the 'ana"ers concerned
.. A detailed re%iew has to be carried out &earl& and the #erfor$ance
in co$#arison to the #lans shall be re#orted to the !oard of
(irectors
..C 6e%ised bud"ets shall be a##ro%ed b& the !oard of (irectors onl& if
sources of funds ha%e been identified and #re%ailin" circu$stances
de$and so.
..D In all cases, the #re#aration of the O#eratin" !ud"et will need to
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follow the deadlines set hereunder*
i, !ud"et (rafts fro$ (e#art$ents to reach =ead Office not
later than 1D
th
A#ril
ii, Consolidated (raft !ud"et to be #resented to the 'aster
?or)ers Council not later than 10
th
;une
iii, (raft !ud"et to be sub$itted to the !oard of (irectors not
later than 20
th
;une
i%, A##ro%ed !ud"et to reach all (e#art$ents and TOSCI field
locations +(e#art$ents, not later than 0
th
;une.
4ART FOUR
3.- INCO%E AND EB4ENDITURE
C.1 SOURCE OF FUNDS
C.1.1 TOSCI9s sources of funds shall $ainl& be 4o%ern$ent allot$ents
and ser%ice fees fro$ seed certification ser%ices. Other sources
consist of "rants for s#ecial trainin", research and de%elo#$ent
acti%ities, contractual ser%ices rendered and $iscellaneous inco$e.
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TOSCI9s funds shall at all ti$es be held in a ban) account in the
na$e of the TOSCI as authorized b& the !oard of (irectors.
C.2 RECEIAING OF FUND
C.2.1 The Cashier shall issue recei#ts in continuous serial nu$bers and
si"n +endorse, the recei#t with his usual official si"nature, the
s#eci$en of which is )e#t b& the =ead of the Accounts (e#art$ent.
>or errors, the ori"inal recei#t and all its co#ies shall be cancelled
and retained in the boo) dul& authenticated b& the =ead of accounts
section. A new recei#t shall be issued in re#lace$ent of the s#oiled
one.
C.2.2 Co#ies of all the recei#ts shall be retained and be #ro#erl&
safe"uarded for the #ur#ose of audit andHor an& other authentication
#ur#ose. The recei#ts can onl& be destro&ed ten &ears after the
financial &ear to which the recei#ts relate under the e1#licit authorit&
of the !oard of (irectors followin" the reco$$endation of TOSCI9s
-1ternal Auditor+s,.
C.2. If an& recei#t nu$bers are $issin", the Cashier $ust brin" the issue
to the notice of the =ead of Accounts (e#art$ent for #ro$#t and
a##ro#riate ad$inistrati%e action.
C.2.C All accountin" #ersons shall satisf& the$sel%es that all areas under
their control are e1actin"l& adherin" to the "i%en "uidelines on
collection and safe"uardin" of funds.
C.2.D -%er& accountin" #erson shall satisf& hi$self as to the correctness of
the securit& arran"e$ents for #rocure$ent and safe custod& of
recei#ts so as to #re%ent loss, da$a"e, unlawful ac0uisition or
i$#ro#er use.
C.2.E The followin" are #rere0uisites for e%er& accountin" #erson in
ensurin" the #ro#er control of recei#ts*
+a, All 6ecei#t !oo)s are securel& and effecti%el& stored
+b, Sur#rise chec)s are #erfor$ed to uns#ecified custodians
fro$ ti$e to ti$e so as to enhance securit& alertness
+c, A suitable re"ister of stoc)s is )e#t to facilitate accurate
recordin" of stoc)s
+d, 6ecordin" shall be done in strict serial nu$bers and a
re"ular %erification of stoc)s held instituted
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+e, -%er& recei#t / other than that for a fi1ed fee recei#t / shall
be co$#leted in full usin" in) or indelible #encil and in all its
co#ies usin" double/sided carbon #a#er and shall be dated
and re%enue sta$#ed
+f, All recei#ts will be issued in strict serial nu$ber order. S#oilt
recei#ts $ust be )e#t in a $anner that the ori"inal +to"ether
with all co#ies of the cancelled recei#ts, are retained in the
recei#t boo)
C. BANCING
C..1 All $onies recei%ed shall be de#osited into the s#ecified TOSCI
!an) account intact b& the followin" da& of business.
C..2 I$$ediatel& after ban)in", the co#& of the ban) #a&/in/sli# / dul&
si"ned and sta$#ed b& the !an) Teller / $ust be scrutinized and
co$#ared with the Cash !oo) records of such recei#ts b& the
Accountant.
C.. @a&$ents $ade direct to the ban) shall be acce#ted when official the
ban) sta$# of the res#ecti%e TOSCI ban)er a##ears on the credit
sli# dul& initialed b& an official of the !an). A recei#t shall be issued
for such credit.
C..C !etween the ti$e of recei#t of cash and the ti$e of de#osit into the
TOSCI !an) Account, no cash $a& be used in an& wa& whatsoe%er,
nor is an& officer to ad%ance, lend or e1chan"e an& su$ for which he
is answerable to TOSCI.
C..D No indi%idual che0ue recei#ts $a& be acce#ted before it is cleared b&
the ban)er.
C.C EB4ENDITURE
The "eneral authorit& to incur e1#enditure of TOSCI9s funds is the
a##ro%ed !ud"et in the case of recurrent e1#enditure. In the case of
ca#ital e1#enditure, the accountin" #erson $ust "et s#ecific or
"eneral authorit& fro$ the (irector 4eneral before e$bar)in" on an&
wor) of ca#ital nature.
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C.C.1 No char"e shall be $ade a"ainst an& bud"etar& ite$ e1ce#t for the
s#ecific #ur#ose which falls within the a$ount of the bud"etar& ite$
and for which due #ro%ision has been $ade in the bud"et.
C.C.2 All TOSCI e$#lo&ees res#onsible for e1#enditure are re0uired to
e1ercise due econo$& and thrift. 'one& $ust not be s#ent if it is not
absolutel& necessar&, $erel& because it has been #ro%ided for in the
bud"et.
C.C. 6eallocation between recurrent e1#enditure ite$s of u# to DI shall
re0uire the a##ro%al of the (irector 4eneral while that u# to 10I
shall re0uire the a##ro%al of the !oard of (irectors.
C.C.C 6e/allocation of financial #ro%isions between recurrent and ca#ital
e1#enditure and between bud"etar& ite$s $ust ha%e the a##ro%al of
the !oard of (irectors.
C.C.D -1#enditure is sub2ect to disallowance when the #a&$ent has been
unlawfull& $ade or the entr& in the accounts is contrar& to the facts.
<nlawful e1#enditure and e1#enditure incorrectl& or ina##ro#riatel&
char"ed to the accounts, includin" e1#enditure not fallin" within the
a$bit of the bud"eted #ro%isions or that $ade in e1cess of the
a##ro%ed bud"et without the #rior a##ro%al or ratification b& the
!oard of (irectors shall be liable for disallowance.
C.C.E The res#onsibilit& for disallowable accounts or account entries rests
u#on accountin" #ersons as defined in these re"ulations.
C.C.F All accountin" and related docu$ents +irres#ecti%e of their #h&sical
size, $ust be )e#t safel& and #rotected fro$ destruction,
defor$ation, falsification or an& other act such that it will render the
docu$ent useless for #ur#oses of docu$entar& e%idence of what
was transacted. >or #ur#oses of these re"ulations such docu$ents
will be )e#t for not less than se%en &ears.
3.6 4O>ER TO CONTROL REAENUE
C.D.1 The =ead of the Accounts (e#art$ent shall satisf& hi$self as to
the securit& arran"e$ents for the #rintin"H#rocure$ent, recei#t, safe
custod& and issue so as to #re%ent loss, da$a"e, unlawful
ac0uisition and i$#ro#er use.
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C.D.2 -%er& e$#lo&ee ha%in" in his char"e an& )ind of official recei#t will
be full& res#onsible for the$ until such ti$e he or she is #ro#erl&
relie%ed of that res#onsibilit&.
C.D. All recei#ts shall be nu$bered consecuti%el&.
3.6 REAENUE AND CA4ITAL EB4ENDITURE
C.E.1 The recurrent and ca#ital e1#enditures for the &ear shall be incurred
within the li$its of the bud"et a##ro%ed b& the !oard of (irectors.

C.E.2 The Accountin" Officer or his a##ointee shall #ass for #a&$ent
re%enue e1#enditure within the a##ro%ed le%els. =owe%er, it is the
res#onsibilit& of the (irector of >inance to ensure that all #a&$ents
$ade are accurate and in order. All Ca#ital -1#enditure is to be
a##ro%ed b& the (irector 4eneral.
C.E. The (irector 4eneral is hereb& authorized b& the !oard of (irectors to
incur necessar& unbud"eted re%enue e1#enditure to the $a1i$u$ of
TShs. 1,000,000 #er transaction but not e1ceedin" TShs. 10,000,000
in a &ear while unit (irectors u# $a& incur unbud"eted re%enue
e1#enditure of u# to TShs. D00,000 #er transaction but not e1ceedin"
TShs. D $illion in a &ear. These #a&$ents $ust later 3 but as soon as
o##ortune / be sub$itted to the !oard of (irectors for a##ro%al.
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4ART FIAE
6.- BANC ACCOUNT AND C?EDUE CONTROL
D.1 CheE1e Si&#atorie! a#d A1thori!atio#
The #owers to o#erate TOSCI9s !an) Accounts and to si"n TOSCI9s
che0ues shall be %ested to the 4rou# A and ! si"natories a##ro%ed
b& the !oard of (irectors. 4rou# ! si"natories shall not under an&
circu$stances si"n che0ues without in%ol%in" a 4rou# A si"nator&.
That $eans that 4rou# A and ! si"natories $ust 2ointl& si"n TOSCI
che0ues. The (irector 4eneral shall reco$$end na$es of TOSCI
staff $e$bers for 4rou# A and ! che0ue si"natories.
D.2 Safe C1!tod$ of Bla#F CheE1e Leave!
>or safe custod&, all unused che0ue lea%es $ust be )e#t under loc)
b& the =ead of Accounts (e#art$ent. !lan) che0ue lea%es shall be
issued on a da&/to/da& basis b& the =ead of Accounts de#art$ent to
a writer of che0ues. The $o%e$ent of che0ues shall be controlled
b& a re"ister. Accountin" officers shall be accountable for the safe
custod& of unused che0ue lea%es that shall be issued +on a da&/to/
da& basis, to a cashier for writin" authorised #a&$ents.
D. Ba#F Reo#iliatio#
!an) state$ents shall be obtained fro$ the ban) wee)l& and a
reconciliation state$ent of ban) balance and the cash boo) balance
#re#ared before the end of the first wee) of the followin" $onth.
D.C 4o!t2dated CheE1e!
It is absolutel& #rohibited for TOSCI to issue #ost/dated che0ues
D.D Stale CheE1e!
All che0ues issued b& TOSCI and not #resented to the ban) si1
$onth after their issue shall be treated as stale and shall be
a##ro#riatel& accounted for. >resh che0ues shall be issued based on
the re0uests $ade b& the clai$ants and on return of the stale
che0ues or on issuin" of an inde$nit& co%er if the stale che0ues are
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lost.
D.E Lo!t CheE1e!
.ost TOSCI che0ues shall be re#orted i$$ediatel& to the #olice and
the ban), the latter acco$#anied b& a written #a&$ent sto# order.
>resh che0ues shall be issued based on the re0uests $ade b& the
clai$ants on issuin" a##ro#riate inde$nit& co%er su##orted b& a
#olice certificate of loss of che0ues and after the ban) has confir$ed
in writin" that the che0ue has not been #aid and has been sto##ed
for #a&$ent.
D.F Di!ho#ored CheE1e
All che0ues recei%ed TOSCI shall be de#osited into the !an)
Account on a da& to da& basis. (ishonored che0ues shall be
debited bac) to the debtor9s account and credited to the ban)
account. ?hene%er a recei%ed che0ue bounces, TOSCI shall re0uire
the debtor to $a)e cash in re#lace$ent of the dishonored che0ue or
issue a fresh one with the ban)er9s acce#tance note concernin" the
bounced che0ue. If fittin", le"al action should be sou"ht for such
default.
TOSCI is hereb& #rohibited to issue a che0ue when its ban) balance
is insufficient to "et such che0ue cleared.
D.8 Co#trol Over Ca!h+ CheE1e! a#d 4o!tal Order!
D.8.1 An Inward 6e"ister of che0ues, ban) drafts, #ostal and $one& orders
and cash recei%ed throu"h the #ost or throu"h so$e other $ediu$
of deli%er& shall be $aintained. The date of recei#t and serial
nu$ber of che0ues, drafts, $one& and #ostal orders shall be entered
in the re"ister.
D.8.2 The #erson who o#ens the $ail shall enter the first fi%e colu$ns of
the inwards Che0ues 6e"isters, and then send it to the =ead of
Accounts (e#art$ent and then to the Cashier. The Cashier, after
issuin" a recei#t, shall enter the re$ainin" colu$ns of the inwards
che0ues 6e"ister.
D.8. An Inward 6e"ister shall be $aintained with the followin" colu$ns.
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(ate
Che0ue nu$ber
6ecei%ed fro$
6eason for recei#t
Ta)en b& +for ban)in",
Cash recei#tHche0ue nu$ber and date
6e$ar)s +for date ban)ed, dishonoured etc.,
D.8.C All recei#ts issued b& TOSCI in ac)nowled"e$ent of a che0ue, draft,
etc., shall be entered a"ainst the a##ro#riate colu$n in the 6e"ister.
-%er& che0ue, draft, #ostal order or $one& order recei%ed for credit
to TOSCI9s account shall be i$$ediatel& sta$#ed 7ACCO)+T
PA#EE O+'# , +OT +E"OTIAB'E9 and crossed if it was not
crossed.
D.8.D All cash recei%ed b& TOSCI e$#lo&ees shall be i$$ediatel&
accounted for and an official recei#t issued. An Inwards Cash
$egister shall be $aintained showin" the date, reference, a$ount,
reason for recei#t, #a&er andHor sender9s address, ac)nowled"e$ent
recei#t nu$ber and date ac)nowled"ed, as rele%ant.
D.8.E -%er& che0ue drawn in fa%our of TOSCI, where%er the account is
)e#t, shall #ro#erl& be #re#ared in accordance with the rele%ant data
"i%en on the authenticated #a&$ent docu$ent concerned and shall
be co$#leted in such a $anner as to hinder alteration.
D.8.F All che0ues recei%ed fro$ the 4o%ern$ent and custo$ers shall be
recei#ted and ban)ed b& the Cashier i$$ediatel& u#on recei#t. No
TOSCI che0ue shall be acce#ted b& the Cashier for encash$ent.
D.8.8 The =ead of the Accounts (e#art$ent shall chec) the ban)in"
actions $ade e%er& da& a"ainst the Cash !oo) and 6e"isters
referred to abo%e.
D.8.G All ban)in" and withdrawals of $ore than TShs.1,000,000HJ should
ha%e ar$ed escort of co$#etent securit& #ersons
D.8.10 -%er& che0ue issued a"ainst the TOSCI account will be crossed
:ACCO)+T PA#EE O+'#9 and shall be si"ned b& two si"natories
dull& a##ro%ed for that #ur#ose.
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D.8.11 Onl& in e1ce#tional circu$stances / and after bein" authorised b& the
(irector 4eneral, the (irector of >inance or the =ead of a
(e#art$ent $a& a che0ue be issued as 7o#en8.
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4ART SIB
".- RE%UNERATIONS
".'.- Salarie! a#d 5a&e!
All #a&$ents of salaries and wa"es shall be $ade onl& to #ersons
who are on the TOSCI establish$ent and in accordance with
a##ro%ed scales. A co#& of the a##oint$ent letter sent to the
accounts office shall be the authorit& for salar& or wa"e #a&$ent.
E.1.1 The Accounts (e#art$ent shall )ee# #ro#er records of salaries and
wa"es, includin" all statutor& and other deductions. The statutor&
deductions shall be ti$el& and #ro#erl& accounted for to third #arties
as a##ro#riate.
E.1.2 The #a&/roll, as with the #a&$ent %oucher, shall be chec)ed for
accurac& with re"ard to na$es, "ross wa"esHsalaries, deduction
calculations and net salariesHwa"es and shall be authorized for
#a&$ent b& the =ead of the Accounts (e#art$ental or his dele"ate.
E.1. In order for an e$#lo&ee to recei%e salar& dues on behalf of a
collea"ue, a full& authenticated written and si"ned authorit& to do so
that is counter/si"ned b& the (irector 4eneral will be re0uired. The
#a&$ent recei#t shall be si"ned b& the recei%in" #erson and shall be
acce#ted as ac)nowled"e$ent on behalf of the affected e$#lo&ee.
All the co%erin" authorit& docu$ents recei%ed should be #ro#erl&
filed and )e#t in safe custod& under loc).
E.1.C The salar&Hwa"e shall be #aid on the 2E
th
of e%er& $onth or on the
#re%ious wor)in" da& if 2E
th
falls on Sunda& or #ublic holida&.
E.1.D Authorit& fro$ the (irector 4eneral should be obtained if the
salar&Hwa"e is to be #aid before the due date in s#ecial
circu$stances.
E.1.E An& o%er/#a&$ent of salariesHwa"es shall be reco%ered in the
subse0uent $onth9s salar&Hwa"e in total.
E.1.F Salar&Hwa"e increases shall be on the basis of co#ies of letters
awardin" such salar& increases and #ro$otions fro$ the =u$an
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6esources (e#art$ent.
E.1.8 Salar&Hwa"e decreases shall be on the basis of court orders and
written instructions fro$ rele%ant Authorit& decreasin" the
salar&Hwa"e.
"., Salar$ Adva#e! a#d Loa#!
E.2.1 Salar& ad%ances / accordin" to a##ro%ed li$its / $a& be #aid to an
e$#lo&ee at the discretion of the (irector 4eneral with instruction for
its reco%er& as sti#ulated in the >inancial 6e"ulations.
E.2.2 'id/$onth ad%ances of u# to C0I of the basic #a& of the e$#lo&ee
$a& be allowed b& the (irector 4eneral durin" the 1
st
to 1D
th
da& of
the $onth and shall be reco%ered in full fro$ the salar&Hwa"e for that
$onth.
E.2. It is the res#onsibilit& of the =ead of the Accounts (e#art$ent to
reco%er the ad%ances as #er ter$s of the ad%ances.
E.2.C Another salar& ad%ance shall not be "ranted to an e$#lo&ee when a
balance in res#ect of the #re%ious salar& ad%ance or I$#rest is
outstandin".
".0 Overti/e a#d Allo5a#e
E..1 O%erti$e shall be #aid to eli"ible e$#lo&ees who wor) be&ond the
nor$al hours after #re/a##ro%al of the =ead of (e#art$ent and in
accordance with .abour .aws. No one shall be en"a"ed in o%erti$e
wor) without the #rior a##ro%al of the co$#etent authorit&. Onl& non/
#rofessional and 4eneral Ser%ice Staff will be eli"ible to #a&$ent for
o%erti$e wor). The !oard of (irectors shall "uide on the
circu$stances and e1tent of o%erti$e #a&$ents with a %iew to
contain abuse of the #ri%ile"e.
O%erti$e clai$s shall be $ade on the o%erti$e clai$ for$ for not
$ore than one $onth9s "ross salar&Hwa"e and should be a##ro%ed
b& the =ead of the (e#art$ent.
E.. !efore a##ro%in" o%erti$e #a&$ent, the =ead of (e#art$ent should
satisf& hi$self that the o%erti$e wor) was necessar& and that the
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2obHtas)s were #erfor$ed to the e1#ected #erfor$ance le%el and that
the $an/hours bein" clai$ed for were actuall& s#ent on the assi"ned
wor).
E..C The res#onsibilit& for an& i$#ro#er #a&$ent of o%erti$e shall rest
with the =ead of (e#art$ent who shall a##ro%e the sa$e.
E..D All other allowances shall be #aid onl& in accordance with !oard of
(irectors9 a##ro%al.
E..E O%er/ti$e andHor other allowances e1ce#t house allowance, ni"ht/
out allowance, and lea%e tra%el allowance shall be included in the
#a&roll for #ur#oses of deductions of Inco$e Ta1 and should not be
#aid in ad%ance.
E..F O%erti$e #a&$ent rates shall be $ade accordin" to the .abour .aws
of Tanzania.
E..8 Nobod& shall be en"a"ed on o%erti$e without the #rior a##ro%al of
the co$#etent authorit&, unless dictated b& circu$stances.
E.C I/pre!t
E.C.1 All I$#rest clai$s should be sub$itted on the #rescribed for$ and
$ust be reco$$ended b& the =ead of (e#art$ent and authorized
b& the (irector 4eneral.
E.C.2 (e#art$ent heads shall ensure that safari I$#rests are
reco$$ended on a fair and realistic basis. >urther$ore, e%er& staff
$e$ber tra%elin" on dut& shall strictl& adhere to the a##ro%ed li$its
of tra%el ti$e and schedule. It is obli"ator& to obtain #rior a##ro%al of
e1tension of tra%el ti$e, and chan"es in the scheduled route and
tra%el $eans because of cost i$#lications and other considerations.
E.C. Clai$s for subsistence allowances shall be in accordance with and
at rates a##ro%ed b& the !oard of (irectors.
E.C.C A staff $e$ber $a& be #ro%ided with funds when it is necessar& for
hi$ to $a)e #a&$ents without #rior sub$ission of %ouchers to the
(irector of >inance. The (irector 4eneral shall authorize an I$#rest
onl& on the basis of reco$$endations fro$ a =ead of (e#art$ent
for those staff $e$bers not directl& answerable to hi$. I$#rests
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shall be issued to indi%idual $e$bers of staff and not in their official
ca#acities.
E.C.D All s#ecial I$#rests should be retired usin" bona fide recei#ts andHor
official rates within se%en da&s after the co$#letion of the
assi"n$ent. I$#rests ta)en for safari should be accounted for within
fourteen da&s after return fro$ safari. In the (e#art$ents, the
Accountant will a##ro%e the I$#rest and the action re#orted to the
(irector 4eneral.

E.C.E <naccounted I$#rests or the balance of I$#rests due to TOSCI
should be deducted fro$ the I$#rest holder9s current $onthl&9s
salar& in full without #rior notice if the e$#lo&ee is unable to refund
the sa$e in cash.
E.C.F No further I$#rest should be "i%en to an e$#lo&ee if an& balance of
the #re%ious i$#rests is outstandin".
E.D Traveli#& a#d ?o1!i#& Allo5a#e
Tra%el and housin" allowances will be #aid as #ro%ided for in the
TOSCI Staff Ser%ice 6e"ulations and as #er 4o%ern$ent Circulars.
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4ART SEAEN
(.- 4ROCURE%ENT 4ROCEDURE
(.' Ge#eral provi!io#
(.'.' A1thori!atio#
F.1.2 The !oard of (irectors shall a##ro%e the TOSCI Annual 6e%enue,
Ca#ital !ud"ets and 6e%ised !ud"ets.
F.1. TOSCI shall co$$it the re%enue and ca#ital e1#enditures based on
the a##ro%ed bud"et esti$ates
F.1.C All #urchases of a ca#italHre%enue nature for articles whose #rices
are controlled shall as far as #ossible be #rocured fro$ "enuine and
authorized su##liers.
F.1.D In res#ect of ite$s whose #rices are not controlled, 0uotations shall
be obtained fro$ at least three reliable su##liers. (e#endin" u#on
the $erits of each case, the 0uotations of #articular su##liers shall
be acce#ted.
F.1.E The criteria for awardin" wor) for the su##l& of $aterials or the
#ro%ision of ser%ices shall not necessaril& be based both on the #rice
and other factors li)e 0ualit&, ti$eliness of su##l&, de#endabilit& of
su##lier, etc.
F.1.F The #urchase of bud"eted ca#ital ite$s a##ro%ed b& the !oard shall
be authorized b& the (irector 4eneral before co$$it$ents are
$ade.
F.1.8 The #owers to #urchase su##lies and ser%ices shall be %ested with
the (irector 4eneral but can be dele"ated to an officer officiall&
a##ointed for that #ur#ose.
F.1.G The a##ointed officer will cause a co$#arati%e #rice list for all ite$s
to be bou"ht to be $ade before orders are $ade to an& su##lier.
F.1.10 No #urchase of stores or ser%ices shall be done before a #ro#erl&
e1ecuted and a##ro%ed #urchase re0uisition is secured. All #urchase
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re0uisitions shall onl& be %alid for E0 da&s.
F.1.11 The #urchase of recurrent and ca#ital e1#enditure ite$s with a %alue
not e1ceedin" TShs. 10,000,000 on a sin"le ite$ transaction $ust
be a##ro%ed b& the (irector 4eneral and D,000,000 b& (irectors
before co$$it$ents are $ade.
F.1.12 An& wor)s to be contracted or $aterials andHor ser%ices to be
#ro%ided whose cost is foreseen to be TShs. 10,000,000 or abo%e,
shall re0uire at least 1D da&s #ublic notice throu"h national
news#a#er or other $edia $ost suitable for #ublicizin" an in%itation
to T-N(-6.
F.1.1 An& wor)s to be contracted or $aterials to be su##lied or ser%ices to
be rendered, whose cost is foreseen to be TShs. 1,000,000 but not
e1ceedin" TShs. D,000,000 will re0uire at least three written
co$#etiti%e bids fro$ selected contractors or su##liers. Such bids
shall be brou"ht to the Tender Co$$ittee for scrutin& and a##ro%al.
F.1.1C >or the su##l& of $aterials and ser%ices fro$ o%erseas, before
#lacin" an& orders which are <S K 10,000 and abo%e, the offers shall
be brou"ht to the Tender Co$$ittee +with reco$$endations, for its
decision.
F.1.1D Bearl& contracts such as for securit& ser%ices, fu$i"ation, unifor$s
etc., shall also re0uire tenderin" #rocedures.
F.1.1E In #ressin" circu$stances or e$er"enc& cases, the (irector 4eneral
shall #roceed with the ac0uisition of $aterials or ser%ices in
accordance with the current @ublic @rocure$ent 6e"ulator&
Authorit& +@@6A, "uidelines and in consultation with the Chair$an of
TOSCI !oard of (irectors.
(., 41rha!e ReE1i!itio# For/!
The #rocedure of #urchasin" $aterials for TOSCI9s use $ust be start
with the co$#letion of the #urchase re0uisition for$. I should be filled
b& the de#art$ent H section re0uires the $aterials in line with the
"i%en instructions.
F.2.1 In cases in which the nor$al #rocedure would a##ear to #re2udice
the ti$el& #rocure$ent of the re0uired $aterials, an <r"enc&
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@rocedure could, instead, be a##lied. Such li)elihood should be
brou"ht to the attention of the (irector 4eneral for his scrutin& and
a##ro#riate actions. In this case the #urchase re0uisition for$ will
be sub$itted directl& b& the re0uestin" (e#art$entHSection to the
=ead of the Accounts (e#art$ent who will ta)e u# the 7ur"enc&8
a##ro%al constraint with the (irector 4eneral.
F.2.2 The #urchase re0uisition for$ shall be filled in each and e%er& #art
accordin" to the t&#e of $aterial re0uired and clearl& describin"
the $aterialHser%ice needed to a%oid a$bi"uities.
F.2. The #urchase re0uisition +@6, for$ shall be co$#leted and si"ned
b& the 6e0uisitionin" Officer and if he is not the =ead of
(e#art$ent obtain the endorse$ent thereon of his =ead of
(e#art$ent.
F.2.C The #rocedures for the #urchase re0uisition +@6, for$ shall be as
follows*
F.2.C.1 @re#aration of Store 6e0uisition Note b& the user
(e#art$ent identif&in" the needed ite$
F.2.C.2 Store (e$and Note raised / Store Lee#er will re#ort
shorta"e to the res#ecti%e authorities and thereafter
the #rocedures for ac0uirin" $aterials follows
F.2.C. @urchase 6e0uisition +@6, is sent to the =ead
Accounts (e#art$ent for scrutin&, #rioritization and
a##ro%al.
(.0 Te#der 4roed1re
(.0.' There shall be a Tender Co$$ittee a##ointed b& the (irector
4eneral. The Tender Co$$ittee shall consist of the followin"
$e$bers*
+a, =ead of the @rocure$ent <nit +Secretar&,
+b, =ead of the Accounts (e#art$ent
+c, =eads of (e#art$entsH'ana"ersH(irectors
+d, =ead of Section re0uirin" the $aterial or
ser%ices

The (irector 4eneral is not allowed to be the Chair$an of the
Tender Co$$ittee as #er @ublic @rocure$ent Act, 200C Second
Schedule. Instead the Chair$an will be selected a$on" the =eads
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of (e#art$ents.
F..2 The Tender Co$$ittee +TC, shall scrutinize and decide on the
tenders recei%ed sub$itted for its a##ro%al.
F.. In selectin" the winnin" tender, the Tender Co$$ittee shall, inter
alia, be "uided b&* +i, the contract su$ tendered, +ii, the reliabilit&
of the contractorHsu##lier, and +iii, the 0ualit& of the ser%ices andHor
"oods su##lied.
F..C 6eco$$endation to the a##ro%in" authorit& shall be based on the
decision of the $a2orit& of Tender Co$$ittee $e$bers. In the
e%ent of a tie, the Chair$an shall ha%e a castin" %ote.
F..D The Tender Co$$ittee shall stri%e to achie%e the hi"hest
standards of i$#artialit& while e1ecutin" its duties. In this re"ard,
the followin" shall be ta)en into consideration*
+a, -0ual o##ortunit& to all #ros#ecti%e su##liers,
contractors, or consultants
+b, >air treat$ent to all #arties
+c, Need for TOSCI to obtain the best %alue for $one& in
ter$s of #rice, 0ualit& and deli%er& #er the
s#ecifications set and other criterion.
4ART EIG?T
*.- INTERNAL CONTROL
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*.' Defi#itio# of I#ter#al Co#trol
This refers to chec)s and balances that are built into an accountin"
s&ste$ that will #rotect the s&ste$ fro$ waste, fraud and
inefficienc&.
*., Defi#itio# of I#ter#al A1dit
Internal Audit is an inde#endent a##raisal of o#erations, conducted
under the direction of or"anization $ana"e$ent, to assess the
effecti%eness of internal ad$inistrati%e and accountin" controls that
hel# to ensure confor$ance with $ana"e$ent #olicies.
*.0 F1#tio# of I#ter#al A1dit
+a, >ocal #oint of control
+b, .oss and >raud In%esti"ations
+c, Audit follow/u# re%iews
+d, Asset and safe"uard %erification
+e, Consultation Ser%ices
*.3 A1dit Co//ittee
In order to ensure that ade0uate and consistent standards of Internal
Audit are a##lied throu"hout TOSCI, there should be a Internal Audit
Co$$ittee.
*.3.' Co/po!itio# of A1dit Co//ittee
The Audit Co$$ittee shall be co$#osed of senior $e$bers of
TOSCI no$inated b& the Accountin" Officer and at least one
$e$ber fro$ e1ternal sources a##ointed b& @er$anent Secretar& of
the 'inistr& res#onsible for A"riculture.
The total $e$bershi# on the Audit Co$$ittee shall not be $ore
than fi%e or less than three, and at least one of the $e$bers shall
ha%e e1#erience of accountin" and auditin".
The Audit Co$$ittee shall $eet at least 0uarterl&.
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*.3., F1#tio# of A1dit Co//ittee
a, To a##ro%e internal annual and strate"ic #lans of TOSCI
b, To re%iew all internal and e1ternal audit re#orts in%ol%in"
$atters of concern to senior $ana"e$ent of TOSCI, includin"
the identification and disse$ination of "ood #ractice
c, To #ro%ide ad%ice to the Accountin" Officer on action to be
ta)en on $atters of concern raised in a re#ort of the internal or
e1ternal auditors concernin" TOSCI
d, Coordinate audit #ro"ra$s conducted b& internal auditors and
the #ro"ra$s conducted b& e1ternal auditors
e, @ro%ide ad%ice to the Accountin" Officer on the #re#aration
and re%iew of financial state$ents of TOSCI
f, @re#are annual re#ort on its functions, co#ies of which shall
be sent to the @er$anent Secretar&, the Controller and Audit
4eneral.
*.6 I#ter#al A1dit U#it
There shall be an Internal Audit <nit which shall a##raise the
soundness and a##lication of accountin", financial and o#eration
control and in #articulars in function as directed b& TOSCI and as
stated in the @ublic >inance Act 2001 and as a$ended.
*." Ba#F Ao1#t! a#d CheE1e!
The #owers to o#erate TOSCI9s !an) Accounts and to si"n the
TOSCI9s che0ues shall be %ested to officials of "rou# A and !
si"natories authorized b& the !oard of (irectors. <nder no
circu$stances shall "rou# ! si"natories si"n che0ues alone without
a "rou# A si"nator&. That $eans "rou# A and ! si"natories shall
si"n che0ues 2ointl&. The (irector 4eneral shall reco$$end to the
!oard, na$es of staff for "rou# A and ! che0ue si"natories.
*.( Co#trol of Ca!h
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8.F.1 It is the dut& of the =ead of the Accounts (e#art$ent to ensure that
all TOSCI funds, in whate%er for$, are #h&sicall& de#osited in the
$ost a##ro#riate for$ of safe custod& a%ailable
8.F.1 All cash and che0ues in an& for$ recei%ed should be )e#t in a
secure wall/built/in cash bo1, a walled/in safe, or a stron" roo$. The
a$ount of cash which can be held o%erni"ht in the safe, stron" roo$
and cash bo1 should not e1ceed the a$ount co%ered b& TOSCI9s
insurance #olic& because, in the case of loss occurrin", the e1cess
a$ount will not be co%ered b& the insurance #olic&.
8.F.2 (u#licate )e&s of the stron" roo$s, safes and cash bo1es shall be
de#osited with the !an) for safe custod&.
8.F. Cash boo)s, led"ers and other $ain boo)s of accounts $ust be )e#t
under loc) and )e& in safe custod& in the safe, stron"/roo$ and cash
bo1es when not in use. 'o%e$ent of the )e#t ite$s shall be well
docu$ented in a s#ecific re"ister.
8.F.C Ade0uate and a##ro#riate insurance co%er shall be ta)en to
safe"uard the contents in the safes, stron" roo$s, cash bo1es and
$one& in transit.
8.F.D All e$#lo&ees a##ro%in" #a&$ent, recei%in" cash, #a&in" cash,
)ee#in" cash and ha%in" an& dealin" with TOSCI9s cash should be
ade0uatel& co%ered under fidelit& "uarantee insurance #olic&.
8.F.E The handin"/o%er of res#onsibilit& for cash shall be #receded b& the
#re#aration of a cash state$ent and a co%erin" certificate si"ned b&
the transferrin" and recei%in" #ersons and should be witnessed b&
two inde#endent res#onsible officials, na$el&, the (irector 4eneral
and the =ead of the Accounts (e#art$ent, who shall also chec) and
certif& the correctness of the %alues and %ouchers handed o%er.
8.F.F 6ecord of all the su$s recei%able in TOSCI as a result of the
#erfor$ance of its functions shall be $aintained in such a $anner as
to afford a #ro#er record of the dues to TOSCI. The record of su$s
recei%able shall be in res#ect of*
+a, All recei#ts fro$ sta)eholders
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+b, (ifferent Char"es, i.e. certification acti%ities
+c, All dues fro$ e$#lo&ees
+d, An& other dues includin" #a&$ent for ser%ices
rendered

8.F.8 'onthl& and annual state$ents shall be #re#ared showin" a"e
anal&sis of the recei%ables and the state$ent of account sent to
debtors $onthl& but not later than fourteen da&s after the end of the
$onth.
8.F.G Cash in e1cess of the set li$its should be re/ban)ed #ro$#tl&
8.F.10 Accountin" #ersons carr&in" cash fro$ one #lace to another shall
ensure the #ro%ision of ade0uate #rotection a"ainst theft or loss.
8.F.11 The )e&s to all stron" roo$s, safe and cash bo1es shall be
ade0uatel& safe"uarded. Accountin" #ersons "uilt& of ne"li"ence in
connection with the custod& of )e&s will be surchar"ed the full %alue
of loss resultin" fro$ such ne"li"ence. In the case of TOSCI these
are the Cashier and Accountant.
8.F.12 Cashboo)s, led"ers and other #rinci#al boo)s of accounts $ust be
de#osited in a safe #lace when not in use.
8.F.1 All credit sales should be reco%ered with within 0 da&s.
8.F.1C All ite$s de#osited into a safe or stron" roo$ shall be entered into a
re"ister, which shall record the $o%e$ent of such ite$s.
8.F.1D Ade0uate insurance co%er shall be ta)en to safe"uard $one&s in
transit.
*.* 4a$/e#t!
8.8.1 An& e$#lo&ee $a)in", allowin" or directin" a #a&$ent without
#ro#er authorit& will be held #ersonall& res#onsible for the a$ount of
the #a&$ent.
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8.8.2 An& accountin" #erson who is re0uired to render accounts of
#a&$ents will be held res#onsible for an& inaccuracies in those
accounts.
8.8. ?here necessit& for #a&$ent arises out of the ne"li"ence or
$isconduct on the #art of the accountin" #erson, the a$ount so
incurred shall be surchar"ed a"ainst such #erson.
8.8.C @ersons that #re#are, chec) and a##ro%e #a&$ent %ouchers and
su##ortin" docu$ents $ust si"nif&in" #ro#riet&, de#endabilit& and
accurac& of the #a&$ent as detailed therein. The #erson who
a##ro%es such #a&$ent should satisf& hi$self of the #recedence
and authenticit& of the said #a&$ent and shall be #ersonall& andHor
2ointl& held res#onsible for an& loss that $a& arise fro$ the #a&$ent
if so $ade in error or throu"h ne"li"ence.
8.8.D (ebts bein" written/off as irreco%erable throu"h ne"li"ence or dela&
in enforcin" #a&$ent $a& be surchar"ed on the #erson res#onsible
for the inaction resultin" in the failure to reco%er the re%enue.
8.8.E The res#onsibilit& for issuin" bouncin" che0ues rests with the =ead
of the Accounts (e#art$ent who ou"ht to )now the ban) balance
before si"nin" the che0ues.
8.8.F The followin" e$#lo&ees re"ardless of their #ositions in TOSCI shall
be liable to surchar"e #enalt&*/
+a, Those who ha%e caused #a&$ent of un#roducti%e
e1#enditure
+b, Those who ha%e incurred un#roducti%e e1#enditure
+c, Those res#onsible for incurrin" e1#enditure that has been
disallowed
+d, Those who ha%e not brou"ht to account su$s of $one& that
ou"ht to ha%e been brou"ht to account b& the$
+e, Those who ha%e caused loss, da$a"e and deficienc& b&
reason of ne"li"ence, $isconduct, carelessness or
otherwise
*.< Telepho#e+ E2/ail a#d Fa8 Char&e!
8.G.1 The Secretar&HTele#hone O#erator shall $aintain a re"ister for calls
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disclosin" clearl& #ri%ate and official calls. The re"ister shall be
sub$itted to the >inance and =u$an 6esources (e#art$ent at the
end of each $onth for scrutin& and rele%ant actions.
8.G.2 The user $ust certif& tele#hone bills before the& are a##ro%ed for
#a&$ent. Careful scrutin& should be $ade before #a&$ent %ouchers
are #re#ared.
8.G. All trun) calls, whether local or o%erseas, should be recorded in a
se#arate re"ister. The re"ister should indicate the officer concerned
and state whether it is #ri%ate or official.
8.G.C All #ri%ate call costs should be reco%ered fro$ the concerned officers
unless the& ha%e #rior a##ro#riate authorization.
8.G.D (irect lines should be li$ited to senior officers onl&. All other staff
should see) #rior #er$ission to use the facilities.
8.G.E -/$ail and fa1 $essa"es should follow the sa$e #rocedures as for
trun) calls.

*.'- I#!1ra#e
8.10.1 The >inance and Ad$inistration (e#art$ent shall $aintainHo#erate
the assets Insurance #olicies of TOSCI and shall ensure that all the
Assets and e$#lo&ees of the TOSCI are ade0uatel& co%ered a"ainst
all the rele%ant ris)s are re0uired b& e1istin" laws.
8.10.1 The >inancial Accountin" (i%ision shall also $aintain and o#erate
#ersonnel insurance #olicies of TOSCI and shall ensure that all
#ersonnel includin" !oard of (irectors are insured a"ainst all
insurable ris)s and that the TOSCI is insured a"ainst all #ublic ris)
that $a& arise as a result of acts, deeds or o$issions b& TOSCI9s
#ersonnel.
8.10.2 A Schedule of Insurance @olicies of TOSCI shall be $aintained u# to
date and the schedules shall detail*
+a, T&#e of #olic&
+ii, Su$ Insured
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+iii, @re$iu$ #a&able
+i%, -1cess a$ount #a&able, if an&
+%, AssetsH#ersonnel co%ered under the #articular #olic&
+%i, -1#ir& date of the #olic&, althou"h, for e1#edienc&, all the
#olicies should be insured to co%er the whole of the
financial &ear
+%ii, @re$iu$ #a&$ent #articulars +#a&$ent %oucher, che0ue
nu$bers date #aid, a$ount #aid and recei#t nu$ber,.
*.< Borro5i#& for the p1rpo!e of the TOSCI

The borrowin" #owers of the !oard of (irectors shall be as #er
TOSCI9s o#eration9s "uideline and in line with 4o%ern$ent
"uidelines.
If an& of TOSCI9s #ro#ert& is h&#othecated a"ainst an& t&#e of
borrowin", a #ro#er record shall be $aintained to disclose such
situation
*.'- Di!po!al of A!!et!
All t&#es of fi1ed assets shall be dis#osed of b& the (irector 4eneral
after obtainin" the a##ro%al of the !oard of (irectors. The (irector
4eneral9s reco$$endations to TOSCI shall be based on the
technical re#orts andHor e1ternal auditor9s reco$$endations on
s#ecified fi1ed assets list.
*.'' 4rovi!io# for Bad a#d Do1btf1l Debt! for Trade Debtor!
8.11.1 An a"e/wise anal&sis of all the debts shall be #re#ared showin"
those debts that are less than three $onths, three to si1 $onths, si1
$onths to twel%e $onths and $ore than twel%e $onths.

8.11.2 (ebtors who are considered doubtful of reco%er& shall be #ro%ided for
a##ro#riatel&. The #ro%ision in this re"ard shall be $ade in res#ect of
s#ecific debts onl&.
8.11. All debts relatin" to custo$ers who are outstandin" for o%er two
&ears and are considered bad shall be written off with as a##ro%ed
b& the TOSCI !oard of (irectors.
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*.', 4rovi!io# for Bad a#d Do1btf1l Debt! for Staff
8.12.1 -1/e$#lo&eesA debts that are considered to be doubtful of reco%er&,
shall be #ro%ided for in the Annual Accounts and the #ro%ision shall
be for s#ecific debts.
8.12.2 (ebts that cannot be reco%ered fro$ e1/e$#lo&ees and are
outstandin" for $ore than three &ears can be written off with #rior
a##ro%al of the !oard of (irectors based on the reco$$endations of
the (irector 4eneral.
*.'0 4rovi!io# for Lo!!e! of Ca!h a#d Other 4ropert$
8.1.1 All t&#es of losses, whether cash or #ro#ert&, shall be #ro$#tl&
re#orted b& the concerned #erson to the (irector 4eneral
8.1.2 A re"ister shall be $aintained in the office of the (irector of >inance
and =u$an 6esources showin" the #articulars of losses re#orted
and the actions ta)en to reco%er the losses.
8.1. A clai$s re"ister shall be $aintained b& the >inance 'ana"er and
=u$an 6esources (e#art$ent in res#ect of clai$s lod"ed with the
insurers or other #arties concerned to $a)e "ood the loss.
8.1.C It is the res#onsibilit& of the (irector of >inance and =u$an
6esources to follow/u# the clai$s $ade for reco%er&.
8.1.D All t&#es of cash and other losses, which cannot be reco%ered
fro$ the insurance or other #arties for so$e reasons, shall
be written off onl& with the s#ecific a##ro%al of the !oard of
(irectors on the reco$$endations of the (irector 4eneral
8.1.E It shall be ensured that cashiers, watch$en and securit& "uards and
other e$#lo&ees who are entrusted with the care and custod& of
cash or #ro#ert& are full& co%ered under fidelit&.
*.'3 >riti#& BaF Debt!
8.1C.1 Effort! !hall be /ade a! far a! po!!ible to reali!e debt! eve#
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tho1&h the$ are 5ritte# off i# the booF! of ao1#t!.
8.1C.2 All such realisations shall be ta)en to the credit of the Inco$e and
-1#enditure Account and shall be se#aratel& disclosed.
8.1D >riti#& BaF Credit!
8.1D.1 The (irector of >inance shall ensure that all bonafide clai$s on
TOSCI, which are dul& su##orted, are settled #ro$#tl&.
8.1D.2 All creditors who re$ain unclai$ed for $ore than three &ears shall
be written bac) to inco$e with due a##ro%al b& the !oard of
(irectors.
*.'" Store! Aerifiatio#!
8.1E.1 There should be a stores re"ister that will record all e0ui#$ent
$aintain b& the TOSCI in both =ead Office and (e#art$ents.
8.1E.2 The re"ister should be $aintained at the store b& Store)ee#er and
can be ins#ected fro$ ti$e to ti$e b& Accountant, Auditors or =ead
of (e#art$ent.
8.1E. At the end of financial &ear or an& ti$e when necessar&, a #h&sical
count will be $ade b& the Accountant and witnessed b& Internal or
-1ternal Auditor. All officers en"a"ed in the #h&sical count should
si"n the countin" sheet.
4ART NINE
<.- 4RE4ARATION OF ANNUAL ACCOUNTS AND EBTERNAL AUDIT
<.' Fi#a#ial State/e#t!
The (irector of >inance shall #re#are and sub$it to the (irector
4eneral the Annual Inco$e and -1#enditure State$ent, !alance
Sheet and Cash >low State$ent.
<., Fi#a#ial =ear
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The >inancial Bear of the TOSCI shall run fro$ 1
St
;ul& to 0
th
;une
of the followin" &ear.

<.0 AUDITORS OF T?E TOSCI
<.0.' Appoi#t/e#t of E8ter#al A1ditor!
-1ternal Auditors of the TOSCI shall be the Controller and Auditor
4eneral as #er the @ublic >inance Act 2001 and as re%ised in 200C.
G..2 A1ditorG! Ter/! of Refere#e
?ithin the "eneral fra$ewor) of their #rofessional rules, TOSCI9s
Auditors shall #erfor$ an audit of the accounts of the Institute as
the& $a& consider necessar& in order to certif& whether*
+i, The annual financial state$ents of TOSCI are in
accordance with its boo)s and records and that the& #ortra&
a true and fair %iew of the financial #osition of TOSCI, its
sur#lus and cash flow for the &ear in 0uestion
+ii, The financial transactions reflected in the annual financial
state$ents are in accordance with rules and re"ulations,
the bud"etar& #ro%isions and other rele%ant financial
decisions
+iii, The securities and $one& on de#osit and on hand and the
in%est$ents $ade ha%e been %erified b& certificates
recei%ed directl& fro$ de#ositors, ban) or other institutions.
<.3 A1ditor! Ae!! to TOSCIG! BooF!
TOSCI9s Auditors and the staff wor)in" under their directions shall
ha%e free access to all boo)s and records which, in their o#inion, are
necessar& for their #erfor$ance of audit. The (irector 4eneral shall
furnish to the Auditors such additional infor$ation as the& $a&
re0uire. Infor$ation classified as confidential in the records of TOSCI
and which the& re0uire for the #ur#ose of the audit, shall be $ade
a%ailable on a##lication to the (irector 4eneral or to such other
officer of the Institute +or !oard, as the (irector 4eneral $a&
deter$ine.
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<.6 Ob!ervatio#! b$ A1ditor!
TOSCI9s Auditors in addition to certif&in" the accounts, $a& $a)e
such obser%ations as the& $a& consider necessar& with res#ect to
the efficienc& of financial #rocedures, the accountin" s&ste$, the
internal financial controls and in "eneral, the financial conse0uences
of ad$inistrati%e #ractices. Audit ob2ections to an& ite$ arisin" durin"
the e1a$ination of the accounts shall be co$$unicated to the
(irector 4eneral.
<." A1ditorG! Report to TOSCI
TOSCI9s Auditors shall #re#are a re#ort to the Institute on the
accounts audited in which the& $a& $ention*
+a, The e1tent and character of the e1a$ination and an&
i$#ortant chan"es since the #re%ious audit
+b, 'atters affectin" the co$#leteness or accurac& of the
accounts such as infor$ation necessar& for the correct
inter#retation of the accounts, an& a$ount which ou"ht to
ha%e been recei%ed but which ha%e not been brou"ht to
account, and e1#enditure not #ro#erl& sustained
+c, An& other $atter which should be brou"ht to the notice of
TOSCI, such as cases of fraud or #resu$#ti%e fraud,
wasteful or i$#ro#er e1#enditure of TOSCI9s $one& or
other assets +notwithstandin" that the accountin" for the
transactions $a& be correct,, e1#enditure li)el& to co$$it
TOSCI to further outla& on a lar"e scale an& defect in the
"eneral s&ste$ or detailed re"ulation "o%ernin" the control
of recei#ts and e1#enditure not in confor$it& with the
authorit& which "o%erns it
+d, The accurac& or otherwise of the su##lies and e0ui#$ent
records as deter$ined b& stoc) ta)in" and e1a$ination of
the records5 and
+e, Transactions accounted for in the #re%ious &ear which
further infor$ation has been obtained, or transactions in a
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later &ear which it see$s desirable that TOSCI should ha%e
earl& )nowled"e.
<.( A##1al Report
TOSCI9s 'ana"e$ent shall #re#are a re#ort on the conduct of its
o#erations in res#ect of each financial &ear as soon as #ossible after
the end of the &ear but within fi%e $onths of the followin" &ear and
shall sub$it such re#ort alon" with the audited accounts to the !oard
of (irectors. A re#resentati%e of TOSCI9s Auditors $a& be #resent
when the !oard of (irectors is considerin" their Audit re#ort.
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