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System of Financial Control and Budgeting QUESTION #5655
Question 1
A Ministry needs to release PSDP funds in the 2nd quarter of the financial year for an approved scheme. The Principal Accounting Officer has NOT furnished a certificate of satisfactory implementation of the approved Work Plan for the previous quarter. What does the O.M. require?
  • Releases may proceed since Work Plan certification is only required for the 3rd and 4th quarters
  • Releases shall be subject to utilization of funds released earlier and must follow furnishing of a certificate by the PAO regarding satisfactory implementation of the approved Work Plan for the previous quarter✔️
  • The Financial Adviser may waive the Work Plan certificate if a written justification is provided
  • Releases can proceed with a post-facto certificate within 30 days
Correct Answer Explanation
All releases during the remaining three-quarters of the financial year shall be made with prior approval of Financial Adviser's Organization in accordance with the approved Cash Plan. The releases shall be subject to utilization of funds released earlier after furnishing a certificate by the PAO regarding satisfactory implementation of the approved Work Plan for the previous quarter.