Govt sets accounts closure date

Main Stories

GOVERNMENT accounts for the 2018 fiscal year will close on Dec 14 and it will be another “hard close”, Finance Secretary Dr Ken Ngangan, pictured, says.
He has urged all national agencies, provinces, districts, local level governments, statutory bodies and suppliers of goods and services to Government to take note of the 2018 close-of-accounts date.
“The 2018 public accounts close will be another hard close,” Ngangan said yesterday. He said no new commitments would be made after Dec 14 while cheques may continue to be run on commitments already made. “Suppliers must submit invoices to relevant Government agency before Dec 14,” Ngangan said.
“All cheques drawn in financial year 2018 of all public and statutory bodies must be presented to banks before Dec 31. No 2018 cheque will be accepted by banks in 2019. All will be referred back to the issuing public or statutory body.”
Ngangan said government service providers who wished to be paid this year must submit invoices to the relevant departments no later than close of business on Dec 7.
“The cut-off date for the issue of any new integrated local purchase order claim (ILPOC) and for the corresponding entry of commitments to the Government’s integrated financial management system (IFMS) and PNG Government accounting system (PGAS) is Friday, Dec 14, 2018,” he said.
“No new 2018 year ILPOCs can be issued after Dec 14.”
Ngangan said all ILPOCs requiring authority to pre-commit must be submitted no later than close of business on Nov 30.
“Payments for goods and services provided to Government that were covered by valid ILPOCs and APC will continue to be processed and paid up until Dec 31, 2018,” he said.
Ngangan said where suppliers had delivered goods and services after Dec 14, invoices should be submitted as soon as the goods and service were delivered to ensure payment in the 2018 year.
He said invoices and all queries concerning payments should be directed to the paying office of the relevant department.
“Under no circumstances should claims be submitted to the Department of Finance other than for goods and services provided to Finance Department,” Ngangan said.