KATHMANDU, Nov 19: The arrear amounts of the federal government stood at Rs 25.26 billion in the last fiscal year.

The integrated internal audit report submitted by the Financial Comptroller General Office to Finance Minister Janardan Sharma on Tuesday shows that the government needs to settle the amount spent rampantly by the government agencies in 2020/21. The arrear amount was 2.11 percent of the allocated budget for the period.

Any financial transaction carried out without providing the required documents and fulfilling the processes is listed under arrears. Large amount of arrears expresses higher possibilities of corruption by the government bodies concerned.

Of the last year’s arrears, the government needs to regularize Rs 6.95 billion while Rs 591.90 million is recorded under the amount to be recovered. Similarly, the advance amount received by the government officials that crossed the maturity date was Rs 17.71 billion.   

The report shows that the federal government has Rs 107.16 billion in its reserve fund for the current fiscal year. In the last fiscal year, the receipts of the federal government stood at Rs 1.267 trillion. Similarly, the government settled payments worth Rs 1.160 trillion during the period.

Of the total government expenditure, 82.32 percent was financed from the state coffer. The rest of 17.68 percent was financed from external sources including 3.4 percent from foreign grants and 14.64 percent from the external borrowings. 

 
• arrears
 
• federal_government