Dubai: Dubai has issued Executive Council Resolution No. (5) that sets the framework for all government departments on their financial resource planning.
All departments will use the systems, applications and smart financial solutions approved by the Department of Finance, and these would be considered legally enforceable.
The Resolution lays down the procedures for government payments and expenditures, including payments to suppliers and contractors, which should be made within a maximum of 90 working days from the date of the final handover, or according to the timeframe specified in the contract.
The Resolution also regulates the collection and management of public revenue, specifies the authorities and responsibilities of the Director-General of the Finance Department in executing the general budget, and outlines the responsibilities of heads of government entities.
The Dubai Crown Prince and Chairman of The Executive Council of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum issued the resolution.
The Resolution will be valid from the date of its publication in the Official Gazette.