Financial Management System

PMO-Punjab Barrages
Lahore
G Abbas Hanjra
Deputy Director
PMO- Punjab Barrages
Lahore

Agenda

Budgeting, Planning and Control

Project Financing
Disbursement
Accounting
Reporting
Auditing
Taxation
Record Keeping
System of Internal Check and Control
Insurance
Authorities and Responsibilities

Project Financing
International Development Organizations
World Bank
Asian Development Bank
Loan Negotiation and Agreement

Government of The Punjab

Disbursement
Withdrawal
Direct Payment
Advance
Reimbursement
Commitment

Mobilization Advance
Progress Payments for Interim payment
certificates, Invoice payments, reimbursement

Reporting

World Bank
Asian Development Bank
Accountant General
Controller Government Accounts
Internal

Budgeting, Planning and Control

ECNEC approved PC-1
Annual, Quarterly, Monthly Forecast
Comparative Analysis Budget Vs Actual

Accounting
Chart of Accounts
Basic Documents Processing
Withdrawal Application Direct Payment to third parties
Payments from Accounts

Sub Ledgers
Ledgers
Cash Book
Trial Balance
Reporting
Fixed Assets Control and Reporting

Financial and Management Reporting

World Bank
Asian Development Bank
Accountant General Punjab
Controller of Government Accounts
Irrigation Department

Audit
Annual Audit by Auditor General Punjab
Continuous Audit
Audit Observations, Audit Para and procedure
for settlement

Taxation
Tax Deduction at Source
Deduction, Deposit and Reporting.

Sales Tax
Sales Tax on Services

Record Keeping
Coding, Numbering and Indexation
Custody of:
General project files
Cash Book
Cheque Books
Bank and Insurance Guarantees
Contracts
Agreements
Paid Invoices

System of Internal Check and Control

Three level check
Segregation of Duties