Jammu, July 31(GNS): The Finance Department, Government of Jammu and Kashmir, has issued a circular regulating the release of balance budgetary allocation and expenditure during the last quarter of Financial Year 2026-27.
The move aims to ensure timely implementation of works, optimal utilization of funds, and to avoid a year-end rush of expenditure.
As per the circular issued by the Budget Division of the Civil Secretariat, Jammu, a copy of which lies with GNS, states that the balance allocation for any work will be released only after at least 80% of the funds already released for that work have been spent. The expenditure must be reflected on the BEAMS portal and in Treasury accounts.
Administrative Departments have been asked to submit proposals for balance allocation immediately upon achieving the prescribed utilization, without waiting for other works.
For works included in the Annual Action Plan 2026-27 and uploaded on BEAMS, if a work has been completed and requires release of the balance allocation up to 100% of the approved provision, the concerned department or executing agency shall submit a specific requisition to the Finance Department. On verification, the Finance Department shall release the balance funds. However, the corresponding bills must be presented to the Treasury within 15 days of such release. Failure to adhere to the timeline shall render the release liable to withdrawal, and any further release will be subject to fresh consideration by the Finance Department.
Departments have also been directed to continuously monitor the pace of expenditure and ensure timely execution of works to avoid delays in fund release.
The circular further states that expenditure during the last quarter, January to March 2027, shall not exceed 25% of the Budget Estimates 2026-27 under each object head or work. Prior approval from the Finance Department will be required in cases of unavoidable contractual, statutory, or court-mandated liabilities.
The Finance Department said these instructions take immediate effect and shall be read in conjunction with existing financial management guidelines.(GNS)
