Financial Regulation of 21.12.1977, EC budget: fines, financial controller, recovery of debts

- OBJECTIVE: to amend the financial regulation of 21.12.1977 applicable to the EC budget in order to improve the conditions for budget implementation, in particular with regard to controls and the keeping of accounts. - COMMUNITY MEASURE: Council Regulation (EC, Euratom, ECSC) No 2334/95 amending the financial regulation of 21.12.1977 applicable to the general budget of the European Communities, concerning the treatment of fines, the role of the financial controller, the recovery of debts and late adjustment. - SUBSTANCE: The Council Regulation: - strengthens the role of the financial controller firstly by ensuring that the latter has complete access to documents recorded on magnetic tape, and secondly by clarifying the requirement for respect of the "visa a priori"; - clarifies the different stages of budget implementation as far as debts are concerned; - provides for fines to be managed through a budget and accounts system; - improves the operation of imprest accounts by setting time limits for dealing with expenditure; - grants an additional period of time to allow various accounting transactions to be put in order after the close of the tax assessment period; - extends the scope of measures relating to the management of appropriations for personnel and for the administrative functioning of offices and branches within the Community. The Regulation enters into force on 10/10/1995. �