The Finance Department of J&K has ordered the promotion of officers of the J&K Accounts Service. The decision to promote the officers was taken due to the deteriorating financial situation of the state. The financial problems of the state have been brought to the attention of the government and the state’s audit committee. Moreover, the actions of the finance department are a violation of the accountability obligations of the department. These departments violated public finance accountability norms and failed to reconcile their receipts and expenditure figures, utilisation certificates, and accounts of autonomous bodies.
As the chief of the Finance Department, Irrigation and Flood Control, Transport, and State Budget are the key areas benefiting from these expenditures. The capital expenditures have reflected an increasing trend both in terms of the ratio to the total expenditure and the GSDP. The revenue expenditure has also reflected an improving trend, with a large share of Non-salary budgetary items. Moreover, the State finances have posted a revenue surplus for the second year in a row.
The head of the Finance Department is the Principal Secretary to the Government. Four Secretaries report to him and each has a specialized area of responsibility. They look after Institutional Finance, Works and Projects, and Resource Mobilisation. The secretary of Fiscal Policy reports to the Secretary of Treasury and Accounts. The Director of Insurance and Small Savings and State Lottery also reports to the Secretary of Finance. The other two secretaries report to the Principal Secrecy of Finance.
The Finance Department oversees the financial aspects of customer orders. It processes sales orders and invoices, collects payments, and records the transactions in its books. The responsibilities of the order to cash department include order management, order fulfillment, and credit management. Its other duties include data management, data analysis, and reporting. The Principal Secretary of Finance is responsible for the Financial Policy, Institutional Finance, and Works and Projects.
The Finance Department is responsible for the management of state finances. It is the governing body of the state’s revenue and funds. It also manages financial issues of government agencies. In addition to overseeing these, the Finance Department is responsible for the collection of taxes and other financial resources. However, the accountability of DDOs and other administrative departments was weak and there were insufficient internal controls in place. The Principal Secretary of Finance is responsible for ensuring the proper functioning of the government.
The finance department is a vital part of a company’s operations. The department prepares and analyzes financial records, and helps management make business decisions. Its other functions include budgeting, taxation, and asset valuation. It also assists the company’s management in forecasting the future. The finance department is crucial to the success of a business. Its functions are vital to the success of a company. The Finance Department also has a seniority hierarchy in its roles.
