Srinagar, Jul 31: The Jammu and Kashmir Finance Department has issued fresh guidelines for the release of balance budgetary allocations and regulation of expenditure during the last quarter of the Financial Year 2026-27, aiming to ensure timely execution of works, optimal utilisation of funds and prevent the year-end rush in spending.
According to a circular issued by the Budget Division of the Finance Department, the balance allocation for any work will be released only after at least 80 per cent of the funds already released have been spent, as reflected on the BEAMS portal and Treasury accounts.
The circular directs Administrative Departments to submit proposals for release of the remaining allocation immediately after achieving the prescribed utilisation instead of waiting for expenditure under other works.
In a special provision, the Finance Department said that if a work included in the Annual Action Plan (AAP) 2026-27 and uploaded on BEAMS has been completed, the concerned department or executing agency may seek release of the entire approved balance allocation. Such requests will be considered after verification, with the condition that the corresponding bills are submitted to the Treasury within 15 days of fund release. Failure to meet the deadline will make the release liable for withdrawal, while any further release will require fresh consideration by the Finance Department.
The departments have also been instructed to continuously monitor the pace of expenditure to avoid delays in fund release and ensure timely execution of works.
The circular further stipulates that expenditure during the last quarter of the financial year (January-March 2027) shall not exceed 25 per cent of the Budget Estimates 2026-27 under each object head or work, except in cases involving unavoidable contractual, statutory or court-mandated liabilities with prior approval of the Finance Department.
The instructions have come into immediate effect and are to be read alongside the existing financial management guidelines issued by the Finance Department.
