Kargil, July 01, 2022: Finance Department UT Ladakh in collaboration with District Administration Kargil today conducted a one-day programme Ladakh on Integrated Financial Management System (LIFMS) at Auditorium Hall Kargil.
District Treasury Officer/Pays and Accounts Officer Iftikhar Ahmad, Accounts Officer to Finance Department UT Ladakh/Nodal Officer LIFMS UT Ladakh Tsewang Dorjay, Accounts Officer to DC Kargil, Shamim Ahmad, resource person Jimmy and all DDOs of Kargil district took part in the event.
Accounts Officer to DC Kargil, Shamim Ahmad welcomed the resource persons, guests and the participants on behalf of the Finance Department UT Ladakh.
Tsewang Dorjay gave training on LIFMS and followed by discussions on various issues being faced by DDO.
During the training programme, the resource persons discussed in detail the LIFMS and said that it is aimed to reduce the paperwork and will also help in proper finance management.
LIFMS is a web-based application for online budgeting which includes Preparation & Authorization of Budget and Expenditure Monitoring on Real-time basis.
It is an initiative for paperless budgeting process with the objective of facilitating easy coordination among DDOs, HODs, Administrative Departments and Finance Department.
It supports reliable, accurate and better monitoring control for budget planning and expenditure audit, besides real-time reconciliation of accounts in comparison to manual budgeting process which lacks transparency and is beset with difficulties due to time delay in authorizations, ineffective monitoring and budget control.
Steps have also been taken to bring preparation of the Annual Action Plan in to LIFMS Platform. This initiative has helped in capturing each approved work/scheme/project onto the system and further monitoring work progress and expenditure booking on real-time basis. Further, Integration of LIFMS with PFMS is under process which will streamline the procedure of budgeting to booking of expenditure and end-to-end digitization.
Later, a question and answer session was also held during which the resource persons cleared confusion of the participants regarding LIFMS.