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Presentation on Financial Management Assessment Tool

Financial Management Assessment under SSA. Presentation on Financial Management Assessment Tool. 30th Quarterly Review Meeting of Finance Controllers 4 th – 5 th August 2011 ( New Delhi). By : U.K. Verma ,Consultant (Financial Management).

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Presentation on Financial Management Assessment Tool

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  1. Financial Management Assessment under SSA Presentation onFinancial Management Assessment Tool 30th Quarterly Review Meeting of Finance Controllers 4th – 5th August 2011 ( New Delhi) By : U.K. Verma ,Consultant (Financial Management) EdCIL, Technical Support Group (SSA) , New Delhi

  2. Financial Management Assessment under SSA MHRD intends to introduce a system of Financial Management Assessment Tool based on the belief that an efficient and effective financial management system depends on clear, well-understood policies and procedures that well-trained staff follow to accurately record and report all financial transactions and make sound, timely decisions to manage Financial Resources under SSA We hope, Financial Management Assessment Tool to help Finance Controllers to assess the current capacity of their State, District and Sub-district level offices to manage their finances and identify steps that they can take to improve that capacity EdCIL, Technical Support Group (SSA) , New Delhi

  3. Financial Management Assessment under SSA • Why it is needed? • Financial Management System needs to be improved in view to huge volume of Financial outlays; • Audit Report of SISs indicates needs of scrutinizing chronic deficiencies of Financial Management System under SSA; • Identifying weak areas and preparation of need based remedial inputs to be injected; • Preparing effective FM Action Plan at all levels of implementation EdCIL, Technical Support Group (SSA) , New Delhi

  4. Financial Management Assessment under SSA • How to be beneficial? • Assess the current status of your capacity to manage financial resources;  • Identify changes that you can make to manage your finances more effectively • Make a specific action plan to implement these changes • Monitor for resulting improvements; • Include need based areas to impart intensive training to the finance people at district and sub-district level; EdCIL, Technical Support Group (SSA) , New Delhi

  5. Financial Management Assessment under SSA • Areas identified under SSA Financial Management: • Accounting System; • Maintenance of Books of Accounts; • Managing Bank Accounts and available funds • Bank Reconciliation Statement • Internal Audit System • Completion of Audit and rendering audit reports and audited accounts • Adjustment of outstanding Advances • Staff Strength and Capacity Building Exercises • Submission of Annual Report EdCIL, Technical Support Group (SSA) , New Delhi

  6. Financial Management Assessment under SSA • Status Data Collection Format : • MHRD to provide a Data Collection Format to all SISs; • SISs, after a thorough assessment of status in its State, District and Sub-district level offices under respective fields, will furnish the data within a month; • MHRD, after scrutiny of state’s data and to consolidate for its inclusion in National FM Action Plan; • Intensive Monitoring of readdresses and progresses. • Now let us see the Data Collection Format and simultaneously explore strategies on availability of Data : EdCIL, Technical Support Group (SSA) , New Delhi

  7. Financial Management Assessment under SSA 1. General Profile : EdCIL, Technical Support Group (SSA) , New Delhi

  8. Financial Management Assessment under SSA 2. Accounting System EdCIL, Technical Support Group (SSA) , New Delhi

  9. Financial Management Assessment under SSA 3. Books of Accounts : EdCIL, Technical Support Group (SSA) , New Delhi

  10. Financial Management Assessment under SSA 4. Bank Accounts : EdCIL, Technical Support Group (SSA) , New Delhi

  11. Financial Management Assessment under SSA 4. Bank Accounts : EdCIL, Technical Support Group (SSA) , New Delhi

  12. Financial Management Assessment under SSA 5. Bank Reconciliation Statement : EdCIL, Technical Support Group (SSA) , New Delhi

  13. Financial Management Assessment under SSA 5. Bank Reconciliation Statement : EdCIL, Technical Support Group (SSA) , New Delhi

  14. Financial Management Assessment under SSA 6. Internal Audit : EdCIL, Technical Support Group (SSA) , New Delhi

  15. Financial Management Assessment under SSA 7. External Audit : EdCIL, Technical Support Group (SSA) , New Delhi

  16. Financial Management Assessment under SSA 8. Outstanding Advances : EdCIL, Technical Support Group (SSA) , New Delhi

  17. Financial Management Assessment under SSA 9. Staff Strength & Capacity Building : EdCIL, Technical Support Group (SSA) , New Delhi

  18. Financial Management Assessment under SSA 10. Annual Report : Signature Signature Finance Controller State Project Director EdCIL, Technical Support Group (SSA) , New Delhi

  19. Financial Management Assessment under SSA Now Its our RIGHT ! Put the Resources at correct places ….. Thank You …. EdCIL, Technical Support Group (SSA) , New Delhi

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