§ 1131. Director’s administrative responsibilities generally.
§ 1132. Records of transactions.
§ 1133. Director’s accounting and fund supervisory duties.
§ 1134. Accounting methods.
§ 1135. Lapse of unexpended funds.
§ 1136. Closing out accounts and transfer of unexpended balance.
§ 1137. Rules and regulations.
The director of the Department of Finance of the Trust Territory shall be personally responsible for the administration, collection, and safekeeping of all moneys due and paid into the Treasury of the Trust Territory as general realization of the Congress of Micronesia, and for the disbursement and appropriation thereof, pursuant to law; provided, that in case of larceny or embezzlement of any moneys by any officer of his department or other persons, the director shall be allowed to state in evidence that he had no collusive knowledge thereof, and the establishment of this fact shall discharge him from personal responsibility.
The director of the Department of Finance of the Trust Territory shall keep, or cause to be kept, in appropriate books, a clear, distinct, and full record of all the transactions and business of his Department.
The director of the Department of Finance shall be the general accountant of the General Fund of the Congress of Micronesia. He shall audit or cause to be audited and cause to be recorded every receipt and disbursement of money made to, by, or through the Treasury of the Trust Territory. He shall have complete supervision of all funds of the Congress of Micronesia. Further, he shall have the power, by withholding his approval when necessary, to prevent the misappropriation of public funds as well as the disbursement of public moneys in excess of specific appropriations.
The director of the Department of Finance shall keep a complete set of double entry books in which he shall open or cause to be opened all Government accounts and the several amounts as shown by the appropriation bill, or any other appropriation that may be at any time made by the Congress of Micronesia, and he shall record his daily business transactions in detail therein. He shall also keep ledgers in which he shall open, arrange, and keep in a methodical and systematic manner the various accounts so that the status and condition of all funds and appropriations, of all assets and liabilities, and of all income and expenditures of the General Fund of the Congress of Micronesia may at any time be ascertained and known; and further, he shall keep such books and all such other auxiliary books as he may deem necessary for the correct and proper administration of his office.
Unless otherwise provided by law, all sums of money which are appropriated to the public service for any fiscal period, and which are not expended during the period, shall lapse and shall not be issued or applied in any future fiscal period to the particular service for which the appropriation has been so made, unless a contract of engagement has been made and entered into before the expiration of the fiscal period by which a liability to issue or apply the same has been incurred, and a certified copy of such contract or engagement has been deposited with the director of the Department of Finance.
In all cases where appropriation of public money is made and an unexpended balance remains to the credit of the appropriation on the books of the director of the Department of Finance after the purposes of the appropriation have been accomplished, or after the time has expired within which those purposes may be accomplished, or after a time when the reasons for the appropriation have ceased to exist, the director, upon the receipt of a certificate from the head of the Department or other public officer who is charged with the duty of expending the appropriation that they have been fully paid and satisfied may, with the written approval of the High Commissioner, close out the appropriation account and transfer the unexpended balance to the credit of the General Fund of the Congress of Micronesia.