Dzintars Kudums Translation

Dzintars Kudums Translation REGULATIONS On the Use of THE Baltic Assembly Funds

1. The purpose of the Regulations on the Use of the Baltic Assembly Funds is to regulate the procedure for using financial resources in order to ensure their rational and effective spending.
2. A decision about the use of the Baltic Assembly funds shall be made by the Session, the Presidium, the Budget and Audit Committee and the head of the Secretariat of the Baltic Assembly within the limits of their competence.
3. The funds of the Baltic Assembly shall be used in accordance with the Baltic Assembly Statutes, the approved budget of the Baltic Assembly and these Regulations.
4. The funds of the Baltic Assembly shall consist of the membership fees of the Baltic Assembly states, as well as donations, earnings from economic activity permitted in accordance with the Statutes of the Baltic Assembly and from other income included in the budget of the Baltic Assembly by the decision of its Presidium.
5. The budget resources of the Baltic Assembly shall be used for ensuring the work of the Baltic Assembly and its bodies (the Baltic Assembly Session, meetings of the Presidium, the committees, the Secretariat, etc.) and any events organised by the Baltic Assembly (Baltic Assembly prizes, seminars, etc.). Expending funds for purposes unrelated to the work of the Baltic Assembly shall not be allowed. Drafting and Approval of the Budget
6. The budget draft shall be planned so as to ensure the work of the Baltic Assembly bodies and the holding of planned Baltic Assembly events. The budget draft should be itemized and should give a clear and full picture of the intended use of the budget resources.
7. The budget of the Baltic Assembly for the coming year shall be approved at the Session, and the target figures of the said budget shall, in compliance with the decision of the Budget and Audit Committee, approved by the Presidium, be prepared and submitted by the head of the Secretariat of the Baltic Assembly to the parliaments in March of the current year.
8. An initial draft of the budget of the Baltic Assembly shall be drawn up pursuant to the general principles of financing the activities of the Baltic Assembly, by the Secretariat of the Baltic Assembly in conjunction with the Presidium and submitted to the Budget and Audit Committee. The first draft of the budget must be drawn up and submitted to the Budget and Audit Committee prior to 1 October. The Budget and Audit Committee shall, in conjunction with the representatives of other committees, consider the submitted draft of the budget, and shall make amendments to it. The draft shall be presented to the Presidium prior to 1 November, which shall submit it to the session of the Baltic Assembly for approval in compliance with the procedure laid down in the Statutes of the Baltic Assembly.
9. The budget shall be drafted in conformity with the plan of activities of the Baltic Assembly. In developing activity programmes, Baltic Assembly delegations shall submit the draft estimate of the financial resources required for their implementation.
10. The Session of the Baltic Assembly shall review the presented draft budget and approve it. Amendments to the Budget
11. If required, amendments may be made to the allocations of the Baltic Assembly budget. The Baltic Assembly Secretariat shall prepare a decision on the amendments and shall submit it to the Presidium. After co-ordination with the Budget and Audit Committee, the Presidium shall present the draft resolution to the Baltic Assembly Session for approval.
12. In cases of unplanned income, a draft resolution of the Presidium shall be prepared concerning the inclusion of such resources in the Baltic Assembly budget. The draft resolution shall contain the estimates of such income and the rationale for its use. The relevant estimates shall be forwarded to the Budget and Audit Committee for co-ordination. After that it shall be approved, and the received income shall be included in the Baltic Assembly budget.
13. In the event of getting unplanned donations and income, the Budget and Audit Committee shall report on the use thereof at the next session. Spending of Budget Resources
14. Pursuant to the Statutes of the Baltic Assembly, the head of the Secretariat of the Baltic Assembly shall enjoy the right to dispose of the property and funds of the Baltic Assembly.
15. The Baltic Assembly member states shall pay their membership fees to the Baltic Assembly budget in the first week of every quarter of the year.
16. The head of the Secretariat of the Baltic Assembly shall manage the Baltic Assembly funds. The financial resources shall be used only in conformity with the approved Baltic Assembly budget. To ensure the work of the Baltic Assembly bodies, the head of the Secretariat of the Baltic Assembly shall manage the budget resources in accordance with the cost estimates that have been drafted on the basis of the adopted budget and working plan. If, in planning a particular activity the allocated budget resources are exceeded, the head of the Secretariat of the Baltic Assembly may request that the cost estimate be reviewed.
17. If additional resources are needed for organising events, the Baltic Assembly Presidium and the Baltic Assembly Budget and Audit Committee, after receiving an application, shall decide on the possibility to grant additional funding.
18. The head of the Secretariat of the Baltic Assembly shall approve and sign all financial documents and shall keep accounting records in compliance with the legal acts of the Republic of Latvia.
19. The funds of the Baltic Assembly shall be kept on a bank account. The decision concerning the choice of the bank servicing the Baltic Assembly shall be made by the Budget and Audit Committee as proposed by the head of the Secretariat of the Baltic Assembly. Use of Discretionary Budgetary Funds
20. The procedure for using discretionary funds of the Baltic Assembly shall be drawn up by the Budget and Audit Committee and submitted for approval at the session. Control over the Use of Budget Resources
21. Control over the use of budget resources shall, according to the competence, be exercised by the Baltic Assembly Presidium, the Budget and Audit Committee, and the Baltic Assembly Session.
22. The Budget and Audit Committee shall have the right to examine and check the financial documents of the Baltic Assembly at any time.
23. Every quarter of the year, the head of the Secretariat of the Baltic Assembly shall prepare and submit to the Presidium and the Budget and Audit Committee a report on the budget resources spent during the previous quarter.
24. Every year in January, the head of the Secretariat of the Baltic Assembly shall prepare a report on the spending of budget resources and the funds received from donations and other unplanned income during the previous year and shall submit this report to the Presidium and to the Budget and Audit Committee. The Budget and Audit Committee shall check and consider the report and make adjustments in it if necessary. After the approval of the report, the Committee shall issue its opinion on the substantiation of the Baltic Assembly expenses. At the Baltic Assembly Session, the Budget and Audit Committee shall present a report on the budget expenditure in the previous year and the Committee’s opinion on its substantiation.
25. These Regulations shall be an integral appendix to the Baltic Assembly Statutes. Vilnius, 29 November 2003