Development Fund Virement

A Development Fund Virement Warrant permits additional funds for completion of an existing capital project where approved Annual or Supplementary Estimate provision is insufficient, provided sufficient offsetting savings exist within other capital projects in the same Economic Programme Section or sufficient appropriation is available after allowing for increased costs. Reallocation may be made only within the same Head of Expenditure, must not introduce a new principle or policy or exceed legislative intent, and cannot fund a new project. The Minister of Finance issues the warrant after National Assembly approval; copies and notifications are made as prescribed.

Reference: Federal Government Financial Regulations, FR 324