Bhubaneswar: Following the requests of several Departments, the Finance Department has revised its deadlines for financial sanction, issue of allotment, re-appropriation of funds, surrender of provisions in the remaining period of the current financial year 2023-24.
Principal Secretary, Finance, Vishal Kumar Dev has recently issued a circular to all Additional Chief Secretaries (ACSs), Principal Secretaries, Secretaries, Special Secretaries and Heads of Department, in this effect.
Shri Dev said the deadline for issuance of sanction orders for release of funds, re-appropriation of fund and issue allotments is March 6. The deadline for online transmission of allotment data to treasury portal (IFMS) has been extended from February 26 to March 7. Similarly, the deadline for surrender of un-utilized funds has been revised to March 7 from February 29.
The Administrative Departments have been asked to strictly adhere to these deadlines.
However, the last date for issue of sanction order for incurring expenditure on these items is the last date for submission of the related bills in the treasury /sub-treasury concerned, Shri Dev said.
The Principal Secretary further said that money should not be drawn from the treasury unless it is required for immediate disbursement. In case funds are to be transferred to implementing agencies, it is to be ensured that funds are drawn and transferred only for actual expenditure and not for parking in bank accounts, he said.
Principal Secretary Finance urged the Departments to take timely steps for sanction, re-appropriation, allotment, online transmission of allotment data to Treasury Portal (IFMS) and surrender of funds by the revised deadline stipulated above in the interest of fiscal discipline and effective financial management.
It should be noted that there will not be further relaxation in the deadlines indicated above under any circumstances whatsoever, he added.