#Financial news

Ministries warned on request

By Fatima Muraina
Ondo state Ministries, Extra Ministerial Departments and Agencies (MEAs)have been warned against requesting for funds that are not budgeted for from the state Ministry of Finance.

The State Permanent Secretary for the Ministry, Mr Gbenga Adelayi gave the warning in an interview with The Hope shortly after a two-day workshop  on Expenditure Matters for Directors of Finance and Administration, Directors of Accounts and other stakeholders in the state.

Adelayi said the Ministry of Finance will no longer release such funds not budgeted for.

He also advised that a photocopy of the relevant page where such fund is in the budget  should be attached to such a request in addition to the process involved in the fund accessment.

He observed cases where a Ministry secured an approval for release of fund from the Governor which is not in the budget, describing it as a breach of the appropriation law.

According to him, such gaps must be bridged by strictly following the procedure for fund accessment and to make things easier and ensure a smooth processing and release of approved funds for it’s activities.

Adelayi said the Ministry has begun a monthly tracking exercise requesting all MEAs to render reports monthly regarding what they have been able to access in the budgetary provisions and balance.

“We now conduct what is called reconciliation comparing our appropriate books together. There could be claims and counter claims”, he noted.

The Monthly Tracking Excercise, he observed has checked over budgetary expenditure which is budget performance

He applauded the present administration for it’s drive, scaling up the internally generated revenue which is being used to augment what comes from the Federal allocation.

“We do not have control on what comes from Federal allocation but on our IGR it is unfortunate that our people are still not complying as they should” he noted

The Director of Expenditure, Mr Tokunbo Ayejoto said the ministry will begin to sanction those that do not follow due process for fund accessment and particularly those who got approval for fund release which was not budgeted for.

He also warned those demanding for release of funds from the contingency fund which does not belong to them, saying agencies should not take approval for fund not bdgeted for.

” There must be transparency and Accountability, when we release Money to an agency we expect the agency to account for that money so that we can be on the same page”, he said.

Six MEAs, SUBEB, Sport Council, Regional Integration and Special Duties, Deputy Governor’s office,Ministry of Transport, and Ministry of Environment were summoned at the end of the workshop for a reconciliation.

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