Ministry instructs state offices to submit cash flow plan

The Ministry of Finance has declared that all government offices must submit an annual cash flow plan by December 23.

The Fiscal Responsibility Act mandates the ministry to collect annual cash flow plans from state offices and prepare budget disbursement rates based on the aforementioned plans and submit them to the parliament by December 31st.

Hence, the ministry has distributed a circular instructing all government offices to submit their annual cash flow plans by December 23rd.

According to the circular, the ministry will only issue the budget for the respective office, after receiving the office's annual cash flow plan. It also states that next years' budget will be issued monthly as per the budget disbursement plan that will be presented to the parliament.

The circular also included guidelines on the preparation of a cash flow plan and instructions on how to prepare the plan according to the strategic action plan and the Business Planning and Consolidation (BPC) module.

The 2020 state budget will amount to a total of MVR 37.8 billion.