As enacted

Contents

Public Financial Management Act 2024 · As enacted · Part IV · Preparation and Approval of Annual Budget

21. Annual budget process

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

(1)

Notwithstanding anything to the contrary in any other written law, every budgetary entity shall prepare and submit their budget estimates in line with the budget call circular, not later than thirty first day of July of the financial year preceding the year for which the annual budget is prepared.

(2)

The budget call circular shall -

(a)

include expenditure ceilings which are binding for the financial year, consistent with the primary expenditure ceiling specified in the medium-term fiscal framework as required under section 12;

(b)

include detailed policy guidance and list the main actions to be complied with and information to be provided by public entities within the annual budget process and set out the timeframe for such actions in line with this section;

(c)

include the public investment programme approved by the Minister of Finance; and

(d)

include other instructions and information as may be deemed necessary by the Secretary to the

Treasury.

(3)

The Minister of Finance shall obtain the approval of the Cabinet of Ministers for the annual budget document prior to submitting it to the Parliament.

(4)

The Minister of Finance shall submit the

Appropriation Bill for the forthcoming financial year to the

Parliament not later than fifteenth day of October of the year preceding the year for which the annual budget is prepared.

(5)

The Minister of Finance shall submit the annual budget document under paragraphs (a) and (b) of subsection (1) of section 20 accompanied with the documents specified under subsection (2) of section 20 to the Parliament not later than fifteenth day of November of the year of which the annual budget is prepared and shall publish the draft annual budget document and documents accompanying thereto on the same day, in the official website of the Ministry of the

Minister of Finance.

(6)

The Secretary to the Treasury shall announce the budget process pertaining to the presentation and approval of Appropriation Bill for the succeeding year, with specific dates, in consultation with the Secretary General of

Parliament and with the approval of the Cabinet of Ministers.

Read on from s 22

Part V

Adjustments to the Annual Budget During the Year

Read on from Part V

Part VI

Budget Execution

Read on from Part VI

Part VII

Financial Management

Read on from Part VII

Part VIII

Statutory Funds

Read on from Part VIII

Part IX

Public Investment Management

Read on from Part IX

Part X

Government Borrowings and Guarantees

Read on from Part X

Part XI

Accounting and Reporting

Read on from Part XI

Part XII

State Owned Enterprises

Read on from Part XII

Part XIII

Provincial Councils and Local Authorities

Read on from Part XIII

Part XIV

Cadre Management

Read on from Part XIV

Part XV

Offences and Penalties

Read on from Part XV

Part XVI

Miscellaneous Provisions

Read on from Part XVI

Part XVII

Repeals

Read on from Part XVII

Part XVIII

Interpretation

Read on from Part XVIII