In the existing economic scenario, budget activities in different departments is a manual process which makes it time-consuming and mundane especially when it comes to generating reports.
Collecting budgeting details from various sources and tracking the amount submitted or pending is quite tedious. It is also difficult to keep a track of allotted amounts versus the amount of budget due for allotment.
The main purpose behind the implementation of the Finance & Budget Monitoring System is to evaluate actual results against approved budgets and to act as a guide for current and future decision-making, providing managers with relevant information making more accountable for performance.
This system is aimed to act as a capacity-building initiative that can facilitate sanctioning, allotment, expenditure, surrender and re-appropriation of annual financial budgets. The primary function of the application is to record budget allocation and allotment details.