J&K Admin takes note of variations in actual expenditure of Deptts

Srinagar, Nov 12: The Jammu and Kashmir administration has expressed serious concern over the significant discrepancies between the actual expenditure reported by various departments and the figures shown by the Accountant General in previous years.
According to official documents, the Finance Department has observed large variations between the actual expenditure reported by departments and the figures reflected in the Annual Finance Account published by the Accountant General (A&E) J&K for the respective years.

“This issue has been viewed seriously. Therefore, care must be taken to ensure that the correct and duly reconciled expenditure is reflected in the specified forms,” the Finance Department’s directives read.
In another related development, the J&K administration has also begun preparations for the upcoming budget. After a gap of six years, the J&K budget will be presented in the Legislative Assembly during the next budget session, once convened by the new government.
To facilitate this, the Finance Department has directed all administrative departments, Heads of Departments (HODs), Budget Controlling Officers, and Drawing and Disbursing Officers (DDOs) to begin the budget preparation process for the year 2025-26. This is to ensure the timely examination, compilation, and consolidation of estimates by the respective administrative departments, which will then be submitted to the Finance Department.
“The administrative departments should carefully scrutinize the estimates and forward their recommendations to the Finance Department by November 20, 2024,” the Finance Department has instructed.
All revenue-earning departments, both large and small, have been asked to submit their information strictly in the prescribed format.
Administrative Secretaries have been instructed to submit budget proposals for each HOD to the Finance Department by the notified deadline. A separate calendar will be issued for the discussion of budget proposals from departments.
“The budget proformas, including revenue and capital expenditure (Capex), must be submitted in soft copies. No proposal will be accepted if it is incomplete or does not adhere to the guidelines provided,” the instructions add.
Additionally, the government has directed all corporations to submit comprehensive financial reports. These reports should include details of profits and losses, expenditure statements, audit periods, utilization certificates, and updates on the latest board meetings. Corporations are also required to provide information on their budgets, revenue realization plans, and bank balances.