Jammu, Feb 23: Vide Government Order No: 4 7- -F of 2017 Dated: 22- 02-2017 the govt issued an order to ensure efficient utilization of resourses. The order reads as:-
In order to ensure efficient utilization of resources as well as granting enough flexibility to the J&K Academy of Art, Culture and Languages for rational utilization of available resource, sanction is hereby accorded to the regulation of Grant- in-Aid to the J&K Academy of Art, Culture and Languages as under:
1. Grant of an Annual Block Grant to the J&K Academy of Art, Culture and Languages which will fund salary, pension, pensionary benefits of the sanctioned staff etc. There will be a provision for an increase upto 10 percent every year.
2. The Academy shall be free to spend the allocated money based on its own internal allocation mechanism and according to what it intends to achieve with the prior approval of its own Finance Committee.
3. The management of the financial issues will be left in the hands of the Academy through its Finance Committee and the Government will restrict itself on laying broad guidelines and policy issues.
4. Allow the Academy to generate and retain funding from sources other than the Government and to utilize them independently with the prior approval of its Finance Committee.
5. Annual Financial reports vetted by the state audit agency (External as well as Statutory Audit), will be placed before the Finance Committee. The Academy will appoint independent statutory auditors to audit its accounts every year.
6. Block grants received from the Government as well as internally and externally generated resources would form the total resource base of the Academy for a particular year. It will be against this that the Academy will prepare its annual expenditure plan which will be approved by its Finance Committee.
7. Any modification in the budget so approved would have to be carried out by the Secretary with the prior approval of the Finance Committee of the Academy.
|