ISLAMABAD: The Federal Directorate of Education (FDE) sought explanation from principal of eight colleges over lapse of funds before closure of financial year 2020-21.
Sources said that recently, FDE’s director Finance and Audit, through a letter sought justification from head of eight colleges for not utilising fund or surrendering it before the closure of the fiscal year.
The FDE officials said that ‘upon scrutiny of expenditure of educational institutions it has been observed that eight colleges had surrendered over over Rs1million funds.
They said that these colleges are included Islamabad Model College for Girls (IMCG) Postgraduate F-7/2, Islamabad College for Boys (ICB) G-6/3, IMCG I-8/4, IMCB F-8/4, IMSB (VI to X) Sihala, IMCG G-10/2, IMCB Postgraduate H-8 and IMCG F-7/4.
The letter said that despite repeated instructions for surrender of saving in time or utilisation of budget before the
expiry of fiscal year, the above mentioned institutions lapsed the funds of over Rs1 million at closing of last fiscal year 2020-21.
“Utilisation of funds and surrender of saving in time is a prerequisite for Financial Management. It is therefore required to be justified as to why instructions of the Directorate have not been taken into account due to which available funds were lapsed which could have been utilized to reduce the other liabilities especially on account of Rent for Residential building to some extent., which is sky high,” the FDE’s letter read.
The FDE directed the principals to submit their replies for presenting them before the Director General.
The FDE is a supervisory body of 423 colleges and schools of Islamabad.
Interestingly, the heads of schools and colleges often complaints for not getting funds,
but in the said case, the funds were lapsed to federal government.
A source said that FDE before the completion of last fiscal year asked the institutions to refund the surplus budget so that the same could be utilized for other necessary purpose.
However, the said colleges neither refunded the surplus budget not utilized it that led to its lapse.
Published in Dawn, November 9th, 2021