Audit Reports
Goa
Report of 2010 - Compliance and Financial Audit on State Finances of Government of Goa
Overview
In response to the Twelfth Finance Commission's recommendations, the Goa Government enacted its Fiscal Responsibility and Budget Management Act, (FRBM), entitled the Goa Fiscal Responsibility and Budget Management Act, 2006, with a view to ensuring prudence in fiscal management and fiscal stability by progressive elimination of revenue deficit, sustainable debt management consistent with fiscal stability, greater transparency in fiscal operations of the Government and conduct of fiscal policy in a medium-term fiscal framework. The State Government's commitment to carry forward these reforms is largely reflected in the policy initiatives announced in its subsequent budgets. Though during the period 2006-09 the trend with regard to fiscal indicators showed positive towards achieving fiscal stability by reduction of deficits, but the deficit indicators turned negative during the current year.
Based on the audited accounts of the Government of Goa for the year ending March 2010, this report provides an analytical review of the Annual Accounts of the State Government. The report is structured in three Chapters..
Chapter 1 is based on the audit of Finance Accounts and makes an assessment of the Goa Government's fiscal position as at 31 March 2010. It provides an insight into trends in committed expenditure and borrowing pattern, besides giving a brief account of Central funds transferred directly to State implementing agencies through the off-budget route.
Chapter II is based on audit of Appropriation Accounts and gives a grant-wise description of appropriations and the manner in which the allocated resources were managed by the sen ice delivery departments.
Chapter III is an inventory of the Government's compliance with various reporting requirements and financial rules. The report also has additional data collated from several sources in support of the findings.