NOTIFICATION ON FINANCIAL YEAR CLOSING


As per the online notification in PEMS by Department of Public Accounts, Thimphu for Final Fund Release deadline for closure of the 2017-2018 financial year, the Dzongkhag’s Finance Service Office would like to reiterate the deadline for the submission of both current and capital legalized claims/bills ofrespective sector ‘s/gewog ‘s to our office – on or before 12th June 2018 for further fund release appropriation.’
The deadline for final fund release has been reflected in FRR 2016, FAM Manual, Chapter Ill, Section 3.11.3 stating that “For facilitating proper closure of books of accounts„all budgetary fund releases shall be completed by the 15th of June of every Fiscal Year . Therefore, all concern shall refrain from last minute rush-up for fund spending and submission of bills thereof. Also to facilitate proper closure of financial year in books of account, the respective spending sector’s/gewog’s are requested to sit with concern accountant to crosscheck and tally your budget availability and fund release as required.

So, the Finance Service Office, Trongsa will not entertain by any order/compromise, bills for further payment after 1 2th June, 2018. Any financial discrepancy arising due to delay in submission of bills to Finance Service Office shall reckon to entrusted offices.

Please treat this notification as urgent and legally binding to avoid financial offence