Print Options

(1) At the close of business of the last working day of each month or financial year, whichever is applicable, the accounts shall be balanced off.

(2) The receipts and payments that belong to a period or a financial year other than the reporting period or financial year, shall be shown in the accounts and the details shall be given in the notes in accordance with regulations 187 and 188.

(3)  Except  as  provided  for in any enactment, no moneys shall be transferred from the appropriation to 

(a) a deposit account; or

(b) to any other agency for the purpose  of meeting payments after the close of a financial year.

(4) Where any payment has been properly charged to an advance account before the end of the financial year, or has been incorrectly charged to an appropriation account, the Controller and Accountant-General may adjust the payments to the correct appropriation account after the end of the financial year as if the expenditure authorities had not lapsed.

(5) As soon as possible and in any case not later than 30 days after the end of the financial year, the Controller and Accountant-General shall inform heads of departments of the date of final closure of the accounts and heads of departments shall ensure that their own accounts are in agreement with the public accounts before the date of final closure.

(6) Closing the public accounts for any financial year shall conclude the accounting for that year and no further adjustment shall be made to them.  

(7) Closure of the public accounts shall not debar any claim, proceedings or transactions arising from the closure and any transaction or adjustment arising from closed accounts shall be recorded in the public accounts of the year in which such transaction or adjustment is made.