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GOVERNMENT CLOSE OF ACCOUNTS EXTENDED

According to a circular released by the Department of Finance Secretary Dr Ken Ngangan, the close of government accounts will be extended to 23rd of December 2022.

The Department of Treasury has released a warrant in recent days to enforce close of government accounts on the 16th of December however Secretary Ngangan said this will cause inconvenience as some organizations need time to complete compliant expenditure.

Ngangan said this extension is following careful consideration and consultation with relevant stakeholders.

It is understood, this extension will allow agencies sufficient time to complete compliant expenditure processes against warrants released by the Department of Treasury in recent days.

The circular also stated that by Close of Business, all commitments for the fiscal years must be committed in the IFMS.

While the raising of commitments will cease on 23rd December, cheques can continue to be raised against those commitments until 28th December, 2022.

Next year, accounts will be opened on the 9th of January, 2023.

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