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Departments: Money

Volume 460: debated on Wednesday 23 May 2007

To ask the Secretary of State for Defence pursuant to his answer of 30 April 2007, Official Report, column 1463W, on Departments: money, what steps he is taking to reduce the amount of notes and coins lost each year. (138776)

[holding answer 22 May 2007]: Guidance on the safeguarding of cash is set out in Joint Service Publications 462 (Financial Management Policy Manual) and 501 (Imprest Accounting and Banking Policy Manual). The guidance is routinely updated, as necessary, to reflect any lessons learned.

A management action plan is also being implemented in response to the National Audit Office (NAO) report entitled “Ministry of Defence, Management of Losses and Special Payments” published in July 2006. Revised procedures include the requirement for top level budget holders to report the value of losses formally to the Finance Director on a quarterly basis. These are consolidated into departmental reports for the Defence Audit Committee.