Assam Finance Department tells Treasuries to Clear Unclaimed Deposits after 3 Years

STAFF REPORTER

GUWAHATI: The Assam Finance Department has directed all treasury officers in the state to strictly implement Rule 313 of the Assam Treasury Rules, which provides for crediting deposits remaining unclaimed for more than three complete account years to the government.

In an executive order, the department said certain deposits liable to lapse were not being identified, reviewed and accounted for within the prescribed timeframe, resulting in avoidable retention of government funds under deposit heads. Under the new instructions, every treasury officer must conduct a comprehensive annual review of all deposit accounts immediately after the close of each financial year. Deposits that have remained unclaimed for more than three complete account years are to be identified and verified against treasury records, registers, vouchers and other supporting documents.

The department has also directed treasuries to prepare and submit a lapsed deposit statement to the office of the Accountant General (A&E), Assam, immediately after March 31 every year.

Treasuries will be required to maintain an updated audit trail showing details, including the date of receipt of a deposit, the date from which it remained unclaimed, the date on which it became liable to lapse, the date of credit to the government and details of any subsequent claim.

The order further stated that claims for refund received after an amount has been credited to the government will have to be examined strictly under the Assam Treasury Rules and disposed of only by the competent authority.

Treasury officers have been made personally responsible for ensuring timely identification, verification and accounting of deposits liable to lapse.

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