- Like previous years, the closing of accounts for the current financial year 2021-22 is an important time-bound financial activity that requires contribution and cooperation of all Schools/Deaneries/Departments/ Sections/ Centers/ Units/ Offices and individual faculty, officers and staff.
- Accurate and timely preparation of Institute’s account is not only a requirement of Hon'ble Parliament, MoE, CAG, and other external stakeholders / agencies but also ensures early receipt of Capital and Revenue funds in the following financial year.
- With the implementation of TSA for making payments, below guidelines must be adhered to strictly. No payment will be made after 29-03-2022 (2 days have been kept reserved for any exigency or personal payment). Institute’s grant remaining unspent shall be absorbed by ministry and may also affect next year’s grant.
- Keeping in view the above, the table below has been framed to guide everyone in performing their role in the process of closing of accounts. Adherence to the timelines given against each activity is also in the interest of Schools, Deaneries, Departments, Sections, Centers, Units, Offices and individuals, as it shall ensure gainful and complete charging of their claims to their current year’s budget/entitlements:
|
Sr. No |
Description |
Applies to |
Action(s) to be taken and timelines |
|
1 |
All kinds of purchases |
All Deaneries, Schools, Departments, Centres, Sections, Units, Offices/Individuals |
Bills completed in all respect to be submitted in Finance & Accounts (F&A) Section by 15.03.2022. |
|
2 |
Imprest |
All Imprest holders |
Last date for submission of claim for recoupment in F&A section by 10-03-2022. Submission for Final settlement in F&A section by 20-03-2022. |
|
3 |
Temporary Advance |
All Temporary Advance holders |
Last date for submission of advance request in F&A section by 10-03-2022. Submission for settlement in F&A section by 15-03-2022. |
|
4 |
Other Personal Claims (TA/LTC, Medical Staff/Students, PDA/FRF, Conference Bills etc.) |
All employees/students |
All concerned employees who have completed their journey on or before 28-02-2022 to submit claim(s) for reimbursement to Concerned section by 10-03-2022. However, TA Bills of guests will be continued to be paid till 30-03-2022, subject to availability of budget. Claims of Children Education Allowance for the F.Y. 2021-22, should be submitted with F&A Section in the next F.Y. 2022-23. PDA/FRF claims can be submitted till 15-03-2022. |
|
5 |
Receipting/Returning/ outdated/un-mailed cheques/drafts |
All Deaneries, Schools, Departments, Centres & Sections those have in their custody cash/cheques /bank drafts in favour of the Institute or issued by the Institute |
Deposit in F&A section by 22-03-2022. |
|
6 |
Invoice requirements and Invoice issuance. |
All PIs. |
To ensure that all invoices, wherever applicable are received by service receivers, under intimation to F&A section by 15-03-2022. |
|
7 |
Payroll |
All employees. |
If needed, can be checked and confirmed with your payroll unit regarding income tax deduction that may apply in February 2022 salary by 15-02-2022. |
|
8 |
Settlement of advance payments |
All Deaneries, Schools, Departments, Centres & Sections, Units. |
Adjust advance payments for their recognition as expenditure for cases where the ordered goods and services have since been successfully received. Submission for settlement in F&A section by 15-03-2022. |
|
9 |
Payments including advance/ forex payments and opening of Letters of Credit. |
All Deaneries, Schools, Departments, Centres & Sections.
|
Cases to be forwarded to the relevant section for ensuring that these are effected on priority. Deadline: 15-03-2022. |
|
10 |
Suppliers/Contractors of C & M C of the Institute |
SE |
|
|
11 |
Settlement of Advances to CPWD/NBCC/different agencies |
SE |
F&A Section to be intimated by 25-03-2022. |
We look forward to cooperation of all in ensuring accurate and timely closing of FY 2021-22
http://insite.iitmandi.ac.in/circulars/upload/ClosingofAccountsforthefinancialyear2021-2022.pdf
(Vishal Singh Chauhan)
Dean (Finance & Accounts)
faculty_local@iitmandi.ac.in /staff@iitmandi.ac.in
