Financial Year Closure: Finance Department issues circular

KL NEWS NETWORK

SRINAGAR

According to a circular issued by Finance Department, proposals of advance drawal revalidation, authorization etc, if any, pertaining to financial year 2015-16 shall be submitted to the Finance Department well before 24th of March, 2016. “No such proposal shall be entertained by the Finance Department after 24th of March, 2016, the circular reads,” an official spokesperson said Tuesday evening.

According to the circular, proposals for parking of money in “Civil Deposits “in order to avoid lapsing of funds shall not be entertained and processed. “Issuance of hundies stands already banned and the departments have been advised not to move any proposals in this regard.”

“Re-appropriation proposals, if any, shall be put up to Finance Department before 18th of March, 2016,” the circular said. “The circular has asked the Treasury officers not to entertain any bill/cheque for payment after working hours on 30thMarch, 2016, pertaining to the financial year 2015-16, and all the DDO’s also have been advised to plan their bill presentations accordingly at the treasury.”

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