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University Grants Commission - Sri Lanka

Finance Circular Letter No. 1/2008

28th January, 2008


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

 

 

PUBLIC  EXPENDITURE  MANAGEMENT  AND  INCURRING  EXPENDITURE  FOR  THE  YEAR  2008


 

Your reference is invited to Finance Circular Letter No. 10/2007 of 14th December, 2007, allocating the Government grant for the preparation of the budget for 2008.

In keeping with the proposals made in the budget speech, the Secretary to the Treasury, by his National Budget Circular No. 137 dated 31.12.2007, has intimated to all spending agencies, the decision to freeze both recurrent and capital expenditure with a view to achieve efficient public expenditure management.

Recurrent Expenditure

Budgetary provisions for recurrent expenditure other than salaries, wages, pensions, subsidies and interest payments on public debt, have been reduced by 1.5%.  This reduction has been fully absorbed by the contingency fund of the University Grants Commission, and will therefore not affect the recurrent expenditure budgets of the Universities and Higher Educational Institutions.

Capital Expenditure

Budgetary provisions on all capital expenditure items have been reduced by a flat rate of 7%.  The capital budgets of all Universities and Higher Educational Institutions have accordingly been revised by reducing the original allocations by 7%.  The revised allocations of your Institution are given in the Annex.

The UGC has already notified the Treasury, the revised allocations of all Higher Educational Institutions.

You are kindly requested to submit the revised Budget for 2008 to the Commission, with copies to the Treasury, on or before the 8th February, 2008,  in the formats sent to you with Finance Circular Letter No. 10/2007.

A copy of National Budget Circular  No. 137 is annexed for your information.

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



Annexure

Download : National Budget Circular No. 137

 

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