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University Grants Commission - Sri Lanka

Finance Circular Letter No. 1/2007

17th January, 2007

Vice-Chancellor of Universities,
Directors of Institutes,
Rectors of Campuses.

 

PUBLIC  EXPENDITURE  MANAGEMENT  AND INCURRING OF EXPENDITURE FOR THE YEAR  2007

 

We refer to the National Budget Circular No. 133 dated 29th December, 2006 and the Finance Circular letter 16/2006 dated 21st December, 2006. The UGC decided to adopt the National Budget Circular No. 133.

1).  Recurrent Grant

According to the National Budget Circular para 01 section 1.1, the Treasury has imposed a reduction on allocations given for items mentioned in the circular. Therefore you are required to reduce your expenditure by 2% on fuel, other supplies, vehicle maintenance, transport, postage and telecommunication, electricity and water. All Vice-Chancellors, Directors and Rectors are requested to monitor expenditure of items indicated above and requests should not be submitted for supplementary funds.

2).  Capital Grant

As per para 03 of the National Budget circular, the Treasury imposed a 20% reduction on capital estimates. Accordingly you are required to reduce your capital allocation by 20% and re-adjust your expenditure limits on Rehabilitation & Maintenance, Acquisition of Fixed Assets and Construction projects. Please inform new expenditure limits to UGC by 29th January 2007 with a copy to Treasury.

It is expected to review capital expenditure and re-adjust the capital allocations by early July 2007.

3).  Payment of Distress Loans

According to para 04 section 4.2 of the National Budget circular you are required to pay distress loans based on the Basic salary excluding allowances with effect from 01.01.2007. Please comply with other requirements indicated in section 4.2, when paying the distress loans to university employees.

4).  General

The new Head No. given to the Universities and University Grants Commission is 214. A revised object code list including all new projects identified by the UGC will be send to you shortly.

A copy of the National Budget Circular No. 133 is attached. This can be downloaded from www.treasury.gov.lk.

This Finance Circular can be downloaded from www.ugc.ac.lk.

Prof. S.V.D.G. Samaranayake
Chairman

Cc:     
1.      Chairman/UGC  
2.        Vice-Chairman/UGC            
3.        Secretary/UGC            
4.        Financial Controller
5.        Director/IDD/UGC             
6.        Registrars of Universities             
7.        Bursars of Universities             
8.        SAR/AR/of Institutes/Campuses
9.        SAB/AB of institutes/Campuses
10.      Accountant/UGC
11.      Chief Internal Auditor/UGC          
12.      Snr. Asst. Accountant/UGC          
13.      Snr. Asst. Secretary/Supplies & Administration/UGC           
14.      Auditor General
15.      Govt. Audit Superintendent /UGC
16.      Govt. Audit Superintendent/Universities

National Budget Circular No. 133

 

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