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Contents

Part IV · Preparation and Approval of Annual Budget

20. Annual budget document and its accompanying documents

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

The annual budget document shall consist of –

(a)

the estimates of revenue and expenditure (in this

Act referred to as the “annual budget estimates”) in the forms as may be prescribed; and

(b)

the Appropriation Bill that includes inter-alia, the estimates of expenditure, and borrowing ceilings.

(2)

The annual budget document shall be accompanied by –

(a)

budget speech summarizing the contents of the annual budget and the overall thrust of the

Government’s fiscal policy;

(b)

a public-friendly version of the annual budget containing easy-to-understand summary of the main features of the annual budget;

(c)

the fiscal strategy statement and the budget, economic and fiscal position report;

(d)

medium-term debt management strategy and annual borrowing plan;

(e)

the list of ongoing and newly approved public investment projects, including public-private partnership projects in accordance with subsection (1) of section 45;

(f)

the list of outstanding loans and outstanding guarantees provided by the Government and other contingent liabilities of the Government including those related to public-private partnership projects;

(g)

a summary of public service employment across budgetary entities;

(h)

a statement of tax expenditures including the total cost of existing tax expenditures and the disclosure of new tax expenditures; and

(i)

any other documents or information as required under this Act or any other written law or as may deemed appropriate by the Minister of Finance.

Part V

Adjustments to the Annual Budget During the Year

Part VI

Budget Execution

Part VII

Financial Management

Part VIII

Statutory Funds

Part IX

Public Investment Management

Part X

Government Borrowings and Guarantees

Part XI

Accounting and Reporting

Part XII

State Owned Enterprises

Part XIII

Provincial Councils and Local Authorities

Part XIV

Cadre Management

Part XV

Offences and Penalties

Part XVI

Miscellaneous Provisions

Part XVII

Repeals

Part XVIII

Interpretation