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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Finance clarifies the confusion about extinguishing the government advances granted

    Rocky
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    Finance clarifies the confusion about extinguishing the government advances granted Empty Finance clarifies the confusion about extinguishing the government advances granted

    Post by Rocky Sat 24 Jun 2023, 6:31 am

    [size=38]Finance clarifies the confusion about extinguishing the government advances granted[/size]


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    June 23, 2023[You must be registered and logged in to see this link.]
    Baghdad / Obelisk Al-Hadath: The Ministry of Finance issued a clarification, on Friday, about the confusion regarding extinguishing the government advances granted.
    Obelisk publishes the text of the statement:
    Based on the principle of transparency that the Ministry of Finance is accustomed to in dealing with issues of financial and economic concern, and in an effort to clarify the facts and clarify issues for public opinion, including those related to the issue of extinguishing government advances granted during previous years.
    In this regard, the Ministry would like to clarify what is reported in the media circles in terms of conversations and statements by some personalities about the issue of extinguishing advances, especially what is related to Article 15 of the Budget Law, which has already been included in the years since 2017, and the relevant decisions of the Council of Ministers in urging spending units to deal with suspended advances. In its records in coordination with the Ministry of Finance and the Bureau of Financial Supervision through a mechanism mentioned in Article 15 until now, which is concerned with addressing the issue of advances of all kinds, as these advances are registered in the records of spending units for not completing the conditions for their settlement and conversion into final expenses, as they are accumulated from the year 2007 and this is what The Bureau of Financial Supervision confirmed it in all its reports issued in this regard, and this account has accumulated since 2007 because the spending units did not settle these advances, noting that Article 15 referred to the entry settlement procedure without actual disbursement operations and that the extinguishing mechanism is carried out by checking those advances by the Bureau Financial SupervisionAfter the spending units submit the settlement reinforcements to the Audit Bureau, and after obtaining the approval of the Financial Supervision Bureau on the settlement, these units submit them to the Ministry of Finance to establish the entry settlement (treatment) and allocate the settlement without cash disbursement.
    While the article stipulates that the spending units, after auditing the Financial Supervision Bureau, send the total of the advances shown to them, noting that the Ministry of Finance deals with government spending units at the level of government formation, not individuals or personalities, and the Ministry of Finance has no relationship with individuals and public figures to fund them from the general budget, and then You send it to the Office of Financial Supervision with all the reinforcements that support the settlement of those advances, after that the spending units address the Ministry of Finance to obtain the Office of Financial Supervision on the settlement so that an allocation is made according to the authority of the Minister of Finance in accordance with Article 15 without cash disbursement.
    As for the availability of priorities on the subject, the report of the Office of Financial Supervision did not refer to the loss of priorities, but when referring to the report of the final accounts of the Republic of Iraq for the years 2014 and 2015, we will find there a statement showing the size of the amounts for advances at the annual level for each year, and that this information has already been It was provided by the Ministry of Finance based on the trial balances of the spending units of the Office of Financial Supervision based on the information provided to the Ministry of Finance in the final account of the Republic of Iraq, and in the event of any shortage, the Ministry is ready to send the details of those advances, so it must be clarified.
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