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Governments commitment to continue reforms in PFM beyond SFAA; Implementing the SFAA recommendations along with the associated institutional and capacity building initiatives at different levels; Empower the Heads of the line departments to be partners in PFM to assure accountability; Modernize the Financial Management System by streamlining financial regulations along with use of ICTs;
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Reduced 3800 heads of accounts to 2700 and pages from 5200 to 3000 pages;
Budget demands reorganised in 2001-02 and 2002-03 to bring each Secretariat Department and concerned HODs together; Budget Detailed/Sub-detailed Heads of Account rationalised from 139 to 91.
Periodic review of revenue receipts: Monthly review of central and state taxes Comparison with benchmarks Inter-district comparisons Timing of borrowings Review of Macro-economic and monetary conditions Quantum and cost of borrowing tranches
Internal Audit Wing has been set-up in Finance Department. State Level Internal Audit Committee & District Level Internal Audit Committee has been constituted. SFAA Committee constituted under Principal Finance Secretary Financial Accountability Norms G.O. 451 issued on Financial Accountability Norms to be followed by CCOs/SCOs, G.O. 507 issued on Financial Accountability Norms to be followed by DDOs.
Thank You