Home Finance Fiscal Request Deadline Extended

Fiscal Request Deadline Extended

Bhubaneswar: Following the repeated requests of several Departments, the Department of Finance Department once again revised its deadlines for release of funds, issue of allotment, re-appropriation of funds, surrender of unutilized funds in the remaining part of the current financial year.

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.

The Finance Department had earlier, on February 7, intimated all Departments of Government / all Heads of Department to avoid rush of expenditure towards the fag end of the financial year and stick to the deadlines fixed for financial sanction, issue of allotment, re-appropriation and surrender of funds, submission of bills in the Treasuries and submission of proposal to Finance Department for release of funds.

However, references for relaxation of deadlines for sanction/release and re-appropriation of funds, issue of allotment etc. beyond the date fixed are being received by Finance Department from different quarters, Mr.Dev said in his latest circular.

“Hence, in view the difficulties faced by different Departments, it has been decided to further extend the deadline for issue of sanction orders for release of funds, issue of allotment, re-appropriation of funds, online transmission of Allotment data to Treasury Portal (IFMS) and surrender of unutilized fund in the remaining part of the current financial year,” Mr.Dev said.

As per the revised deadline, now the Departments can issue sanction orders for release of funds, make re-appropriation of funds and issue allotments till March 3. Earlier, the deadlines for all the three activities were February 25.

Deadline for online transmission of allotment data to the treasury portal (IFMS) has been extended from February 25 to March 4. Similarly, the deadline for surrender of un-utilized funds has been revised to March 4 from February 28. 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, informed the Principal Secretary.

As the Finance Department manuals mandates 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 told the Departments.

“I would, therefore, request you kindly 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,” Dev said.

He made it clear that there will not be further relaxation in the deadlines indicated above under any circumstances whatsoever.