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Technical Education Quality Improvement Programme

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Revision of Financial Management ... To Facilitate World Bank to keep reserve for disbursement ... Col 2 : Disbursement Category As printed in the format ... – PowerPoint PPT presentation

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Title: Technical Education Quality Improvement Programme


1
Technical Education Quality Improvement Programme
  • Workshop on Revision of Financial Management
    Report
  • 30th December, 2005

2
Focus of Workshop
  • Revision of Financial Management Report (FMR)
  • Obtaining Feedback and Suggestions from SPFUs
    and State Institutions
  • Finalization of FMR formats
  • Understanding Co-relation with Monthly Progress
    Report and Reimbursement Claims
  • Maintaining accuracy in Reporting

3
Importance of FMR
  • To comply with the legal covenant
  • Review the Progress during the Quarter
  • Projection of appropriate future requirement of
    funds
  • To reconcile reimbursement Claims with the
    expenditure during the Quarter

4
Status of FMR
  • Three FMRs have been submitted to the World Bank
  • 1st FMR - Quarter ending 31st March 2005-
    unacceptable
  • 2nd and 3rd FMRs - Quarter ending 30th June 2005
    and September 2005 still erroneous
  • 4th FMR - Quarter ending December 2005 is due

5
Purpose of Revision in FMR
  • To make it user friendly
  • Simplify the formats
  • Modify based on past experience
  • Feedback received from SPFUs and Institutions
  • Submission of Correct FMR to World Bank

6
Revised Formats
7
Financial Management Report (FMR)
  • Formats of FMR
  • FMR 1 Comparison of Actual
    expenditure with Planned expenditure
  • FMR 2 Forecast of Expenditure for next six
    months
  • FMR 3 Utilization of funds
  • FMR 4 Contract wise Expenditure details

8
Financial Management Report (FMR)
  • Common details
  • Name of State
  • Quarter from dd/mm/yy to dd/mm/yy
  • (01-10-05 to 31-12-05)
  • IDA CR No. 3718-IN
  • Amount should be shown in Million only
  • Amount should be calculated up to 3 decimal
    points only

9
Programme Components
  • Component - I
  • Institutional Development
  • (for Institutions only)
  • Promotion of Academic Excellence
  • Networking of Institutions
  • Services to Community and Economy

10
(Applicable for all State Institutions)
Category 1
  • Component I
  • Institutional Development
  • Civil Works
  • Equipment
  • Furniture
  • Vehicle
  • Books and LRs
  • Consultancy and research studies/audit fee
  • Training/fellowship/study tours/workshops
  • Salaries of agreed additional staff
  • Consumables
  • Operation and Maintenance
  • Networking of Institutions
  • Services to Community and economy

11
Programme Components
  • Component II
  • System Management Capacity Improvement
  • (Applicable for SPFU only)
  • Category 2 Goods (Equipment, Furniture,
  • Vehicle)
  • Category 3 Books and LRs
  • Category 4 Consultancy and research
  • studies/ audit fee
  • Category 5 Training/fellowship/study
    tours/ Workshops
  • Category 6 Incremental Operating Cost
    (Salaries of agreed additional staff
    Consumables, Operation and
    Maintenance)

12
FMR 1
  • Review of financial Progress during the quarter
    and compare it with expenditure planned to know
    the variance
  • Analyze Variance
  • Find Reasons
  • Evolve solutions to minimize variance

13
Preparation of FMR 1
  • Col 1 Category No As Printed in format
  • Col 2 Component / Category As printed in
    the format
  • Expenditure Planned (How much was planned for the
    quarter under reporting)
  • Col 3 During the Current Quarter
  • Col 4 Cumulative including current Quarter
    since inception

14
Preparation of FMR 1
  • Actual Expenditure (Match with 3 months
    expenditure reported in the Monthly Progress
    report and Reimbursement Claim)
  • Col 5 During the Current Quarter
  • Col 6 Cumulative including Current Quarter
    since inception
  • Variance Difference between Planned and Actual
    expenditure
  • Col 7 During the Current Quarter ( 3 - 5)
  • Col 8 Cumulative including Current Quarter
    since inception ( 4 - 6)

15
FMR 2
  • Forecast of Expenditure for next six months
  • To Facilitate World Bank to keep reserve for
    disbursement
  • Involvement of officers in forecasting
  • TEQIP Coordinator
  • Nodal officers (Finance, Civil works, Goods and
    Academic)
  • Head of the departments of areas that are given
    in CIP

16
Preparation of FMR 2
  • Col 1 Category No. - As printed in the
    format
  • Col 2 Disbursement Category As printed
    in the format
  • Col 3 Expenditure Planned for the next
    First Quarter
  • Col 4 Expenditure Planned for the next
    Second Quarter
  • Col 5 Total for Next Six month ( 34)
  • Col 6 of Reimbursement - As printed in
    the format
  • Col 7 Required Eligible amount for
    reimbursement for six month (56/100)

17
FMR 3
  • Utilization of funds

18
Preparation of FMR 3
  • Col 1 Category No. - As printed in the format
  • Col 2 Disbursement Category- As printed in the
    format
  • Col 3 Expenditure incurred during the Quarter
  • Col 4 IDA financing percentage of
    reimbursement- As printed in the format
  • Col 5 Amount Eligible for Reimbursement
  • ( 34)/100
  • Col 6 US equivalent withdrawn from the
    Special Account Leave it blank
  • Col 7 Exchange rate ( US 1 equal to ) Leave
    it blank
  • Col 8 Remarks

19
FMR 4 Contract wise expenditure details
  • To be used for expenditure equal to or more than
  • US 300,000 for Civil works (Rs 1.35 crore
    approximately Rs 13.50 million)
  • US 300,000 for Goods (Rs 1.35 crore
    approximately Rs 13.50 million)
  • US 100,000 for consulting firms (Rs 45 lakhs
    approximately Rs 4.50 million)
  • US 50,000 for individual consultant (Rs 22.50
    lakhs approximately Rs 2.25 million)

20
Preparation of FMR 4
  • Col 1 Particulars
  • Col 2 Name of Contractor / Supplier/
    Consultants address ( if USA, please
    also
  • indicate the city and state )
  • Col 3 Method of Procurement Write ICB/NCB/
  • QCBs etc. (No ICB in Civil Works)
  • Col 4 Bid Invitation Date
  • Col 5 Bid Opening Date
  • Col 6 Contract signing Date
  • Col 7 Contract Completion Date
  • Col 8 Contract Value
  • Col 9 WBR No
  • Col 10 Currency and amount paid during this
  • Quarter
  • Col 11 Cumulative amount paid to-date
  • Col 12 Remarks, if any

21
Submission of FMR
  • Quarterly Submission (each year)
  • 1st Qtr ending June - by 31st July
  • 2nd Qtr ending Sept by 31st Oct
  • 3rd Qtr ending Dec - by 31st Jan
  • 4th Qtr ending Mar - by 30th April

22
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