C I R C U L A R
Subject: Settlement of Advances including Permanent Advance/ Imprest pertaining to the Financial Year 2015-16.
Financial Year 2015-16 is coming to an end after 45days on 31st March 2016. Finance &
Accounts Section has to close the accounts for the financial year2015-16 immediately after 31st March 2016 and to initiate action for preparation of the Annual Accounts of the University accordingly. With a view to ensure fair and true presentation of financial statements in the Annual Accounts of the University for the financial year 2015-16 the following instructions are issued for immediate and strict compliance by all concerned.
Staff members to whom money was advanced during the financial year 2015-16 are requested to submit adjustment accounts immediately so that advances could be settled by Finance & Accounts Section by or before 25th March 2016. Imprest Account holders should also submit their adjustment accounts in respect of expenditure made by them out of Imprest Account by or before 25th March 2016 and simultaneously remit the unspent balance, if any, into the University chest against proper cash receipt. Such of the Imprest Account holders who have not incurred any expenditure out of the money lying with them should also remit the same into the University chest against proper cash receipt by or before 31st March 2016.The amounts of Imprest sanctioned shall be re-issued to the employees concerned during April 2016.
The sections of the University through which amount were advanced to outside agencies should take immediate action to get the adjustment accounts of the advances for their settlement or in the alternatively recover the amount in cash and remit the same into the University chest against proper cash receipt by or before 31st March 2016. Utilization and work done certificate of amount advanced to CPWD and other agencies on account of Capital Works Viz construction of site office, boundary wall, etc at Ganderbal Campus needs to be furnished by or before 25th March 2016.
All sections of the University including Central Library will clear cases of the purchases made during the financial year 2015-16 by or before 25th March 2016.
Normally, it is not prudent to carry over the expenditure incurred during the financial year 2015-16 as liability to the next financial year 2016-17. In exceptional cases where payment(s) cannot be made in the current financial year due to the reasons, to be recorded, the exact amount of such payment(s) needs to be reported
to Finance & Accounts Section by or before 31st March 2016 for creation of current liabilities in the Annual Accounts of the University as on 31-03-2016 to be discharged in the ensuing financial year.
No payment in respect of expenditure pertaining to the financial year 2015-16 would be made by Finance & Accounts Section during the next financial year 2016-17 unless current liability stands
created for such amounts in the Annual Accounts of the University for the year 2015-16
Sections that have received Bank Drafts, Demand Drafts, Cheques or any other bank/
Financial instruments in the name of the University and are still lying with them should immediately pass on these instruments to Finance & Accounts Section so that they could be presented to the bank for clearance and their proceeds are credited to the bank account of the University by or before 31st March 2016.
The cost of consumables like stationery, tonners, etc purchased during the financial year 2015-16 and remaining unutilized in the stores on 31.03.2016 need to be intimated to F&A Section for their accounting treatment in the Annual Accounts of the University for 2015-16. Similarly, amount of service stamps remaining unutilized at the close of the financial year 2015-16 in the Personal Section of the Registrar needs to be intimated to the F&A section for giving the necessary treatment under
"Current Assets" to the unutilized balance in the Annual Accounts of the University as on 31.03.2016.
I/c Finance officer
No. CUK/F&A(A/A)SAR/2015-16(86c)121 Dated 22/02/2016
Copy of the above forwarded for information and necessary action to the:
1. Heads of all Departments.
2. Controller of Examination.
3. Librarian (I/c), Nowgam Campus 4. Executive Engineer
5. Assistant Registrar(Admin)
6. Assistant Registrar (Purchase/Stores) 7. Public Relationship officer
8. Hindi Adhikari
9. Section officer Purchase
10. Section officer (Estates/E&E wing) 11. Section Officer Academics
12. P.S to Vice Chancellor 13. P.S to Registrar 14. P.s to Finance Officer
15. Section Officer (Nowgam Campus) 16 Consultant (H&P)
