West Bengal Report-IPAI.pdf - Sarva Shiksha Abhiyan

462.7.3 Rush of Expenditure in MarchThe extent of funds released by the SIS to districts in themonth of March in the respective years was as follows :(2005-2006) March 2006 Rs. 22.15 crore(2006-2007) March 2007 Rs.223.50 crore(2007-2008) March 2008 Rs.346.65 croreIt was revealed that during 2007-2008, 26.35 per cent(Rs.346.65 crore) of the total released of funds (Rs.1315.65 crore) tothe different districts was made by the SIS in the month of March2008 and 29.60 per cent (Rs.223.50 crore) of the total released fund(Rs.755.00 crore) to the districts during 2006-2007 was made by theSIS in the month of March 2007. Consequently, sizeable amountremained unutilized at the end of the financial year. The release offunds at the fag end of the year did not serve the intendedpurpose.2.7.4 BANK BALANCES HELD BY SPODue to low level of release and utilization of funds asmentioned in Paragraphs 2.6.4(VI) of this report, huge balancesremained unutilized with the State Project Office. Year wiseposition of balance at Bank at the end of the financial year during2005-2006 to 2007-2008 is given below :