MoF issues circular on Drafting State’s Closing Account 2023


Muscat: The Ministry of Finance today issued Circular No. 1/2023 on the preparation of closing account of the State’s Fiscal Year 2023.

The circular requires all units of the State’s Administrative Apparatus, public authorities and public establishments to present their final accounts for fiscal year 2023 by 22 February 2024 at the latest.

The ministry calls upon all units to enclose major results and goals achieved when implementing the endorsed budgets during Fiscal Year 2023. This includes statements comparing revenues and actual spending of funds as compared to endorsed revenues and spending, in addition to the distribution of the same in line with terms of collection or expenditure.

The fiscal position of ministries and government units has to include a breakup of credits/balances of ministries and government units as indicated in their respective bank accounts and permanent and temporary advances/borrowings and financial rights that other parties owe the government.

This is in addition to the preparation of statements of non-fiscal assets of real estate and land, as well as assets of government stores and movables and libraries affiliated with the units. The statements should include copies of reports drafted by internal audit units on performance during the last quarter of fiscal year 2023. – ONA

more recommended stories

Terms of Use:

  • This website Arabian Daily is an individual’s property, not used for any commercial or sales purposes. What you see here are one’s random thoughts in action. I, by no means, endorse any product or party through this, unless stated explicitly.
  • All work you will find here is copyrighted unless stated otherwise. No part of this work can be reproduced in any way with the exception of a) if you share our work, it should link back to this website; b) if you quote any part of our work, it should be properly credited to us with a link to this website.
  • All images used on this website have been taken from open source image websites on the Internet. If any of them are copyrighted to you and you want us to take them down or add credits, please feel free to contact us here, or by using the contact form on this page.
  • The views expressed on Arabian Daily are solely ours. They do not represent any party or any particular school of thought. This website does not promote racism in any form.
  • Privacy Policy:
    This website will respect the readers’ and the writer’s privacy. We do not sell any of their personal or contact information to another company. We do not put your information on spam lists. Also, and more importantly, we are not responsible for the privacy practices of any of our advertisers or website commenters.
  • Reserve Rights: We reserve the right to change the focus on this website, to shut it down, sell it or to change the terms of use at our own discretion.