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Financial Reform Undertaken NDMC

 
   

Following reforms are undertaken by Finance NDMC:-


1) Stopped cash disbursements. Payments were made through a/c payee cheques only to curb bogus payments.

2) Introduced ECS mode of payments for disbursement of salaries and other payments to all employees.

3) Introduced RTGS mode for transfer of funds within accounting units to save blockage of funds during clearance.

4) Revenue was earned by investing the money thus available through planning cash flow.

5) Introduced fund based accrual system of double entry accounting.

6) Established Financial Management & Budget Office for:

a) The implementation of double entry accounting
b) Providing analytical data
c) Budget preparation
d) Impart in-house training.

7) New pension scheme introduced for employees.

8) Terminal benefits of employees were being provided on the date of retirement itself.

9) Establishment of Centralized Pay & Accounts Office at HQ.