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Enhancing Financial Monitoring Processes under SSA: Key Insights from the 26th F.C. Meeting

This presentation outlines the critical objectives and actionable strategies for improving financial monitoring processes under the Sarva Shiksha Abhiyan (SSA), as discussed during the 26th Finance Commission meeting in Chandigarh. Key focus areas include timely financial reporting, effective utilization of funds, and systematic accounting practices. It highlights the need for proactive approaches in monitoring, identifies existing challenges, and proposes solutions to enhance efficiency. The financial monitoring action plan (FMAP) emphasizes accountability through clear role assignments and continuous capacity building for better financial management in education.

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Enhancing Financial Monitoring Processes under SSA: Key Insights from the 26th F.C. Meeting

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Presentation Transcript

  1. Presentation on financial monitoring process under SSA Venue - 26th F Cs meeting at Chandigarh By O.P. Mishra, JEPC, Ranchi

  2. Objectives of FMAP • (JIT) works to be done just in time • Speedy collection of UCs • Timely Accounting and financial reporting • Adjustment of advances within scheduled time • Timely receipt/release of grants • Real time physical/financial achievement • Issuance of transparent financial monitoring instructions • Implementation of Systematic accounting system as per FM&P manual of SSA • Backlog reminders

  3. Formulation of FMAP • Consultation with rear/peer and superiors • Situational analysis in variable proposals • Goal /Target setting in view of FM&P manual of SSA • Cost effective FMAP • Identified Issues, desired status, present status , key gaps and corrective action • Scheduled activity wise completion time • Identified weak area of financial monitoring • Responsibility fixed to stage wise related personnel's for implementation of FMAP and templates • SMART base FMAP prepared

  4. Inclusion in FMAP • Accounting and financial reporting • Internal check and control (internal/statutory/AG and IPAI audit) and compliance of audit observations • Financial monitoring • Capacity building on accounting , financial management and procurement • Staffing in finance and accounts • Responsibility sharing • Social audit of VECs

  5. Implementation of FMAP • Issued formulated FMAP guidelines to districts and BRCs • Sufficient fund arrangement to districts and KGBVs • Concurrent/monthly/quarterly and annual review of target vs achievement • Identify reasonable reason for delay and its corrective approach/rescheduling • Proactive vision instead of reactive

  6. Monitoring of FMAP • PDCA based financial monitoring system • PERT-CPM analysis • Situational analysis • Ignore negligible part of non performance • Identification of reasons for delay • Stage wise monitoring system • Performance appraisal based on FMAP and monthly expenditure plan • Grading on the basis of performance • Web based monitoring proposal is under process

  7. Constraints and suggestive improvement • High turn-over of employees resignation • Temporary staffing arrangement • Deputation of SSA staff to other department • Scarcity of professionally skilled/profound experience holding candidate for staffing • Frequent transfer/posting of SPDs • Non functional Punchayati Raj System in Jharkhand • Geographical/location problem and communication barriar • Confused role (Trial and error based working) • Teachers having no knowledge of accounting are responsible for accounting at school level • Diversified system of programme implementation(Convergence Issue)

  8. Monthly expenditure plan and fund requirement • Thorough study of sanctioned physical/financial approved budget and guidelines • Identified problem for activities could not be completed in time • Identified nature of expenditure can be expended timely or before time • Prepared monthly/quarterly expenditure plan • Prepared quarterly requirement of fund based on expenditure plan • In view of financial monitoring process FMAP and monthly expenditure plan is annexed herewith • Now we monitor based on monthly/quarterly target and analyse real reason against failure of target

  9. THANKS

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