Finance Ministry Issues Circular on Preparation of State’s Final Account for 2024

The Ministry of Finance has issued a circular to all the State's Administrative Apparatus institutions requiring them to prepare the Final Accounts Report for Fiscal Year 2024 and submit the same by 20 February 2025. The Ministry stressed the need to highlight the results and objectives achieved by each unit/institution when implementing its approved budget. The report should include a statement comparing a unit's approved revenues and expenditures with the actual revenues and expenditures. The report should also indicate details of a government unit's cash and banking balances, permanent and temporary advance payments and financial rights owed by other parties to the government. The Ministry also called on all institutions of the State's Administrative Apparatus to prepare statements about non-financial assets of real estate and land, warehouse assets, government movables and libraries affiliated to the government units. It asked all institutions to attach copies of the reports prepared by their respective internal audit departments on the last quarter of fiscal year 2024. Source: Oman News Agency