The financial regulations of Sri Lanka cover various aspects of government finance, such as budgeting, accounting, auditing, procurement, payment, revenue collection, asset management, debt management, and internal control. The regulations are divided into 13 chapters, each dealing with a specific topic or function. The chapters are as follows:
Chapter I - General
Chapter II - Budgetary Control
Chapter III - Accounting
Chapter IV - Audit
Chapter V - Procurement
Chapter VI - Payment
Chapter VII - Revenue
Chapter VIII - Stores
Chapter IX - Public Works
Chapter X - Advances
Chapter XI - Public Debt
Chapter XII - Miscellaneous
Chapter XIII - Interpretation
The financial regulations of Sri Lanka are applicable to all government institutions, including ministries, departments, provincial councils, local authorities, statutory boards, corporations, and other public entities. The regulations are binding on all officers and employees who are involved in any way with the handling or management of public funds or property. Any violation or non-compliance with the regulations may result in disciplinary action or legal consequences.
The financial regulations of Sri Lanka are periodically revised and updated to reflect the changing needs and circumstances of the government and the society. The latest revision was done in 2018 by the Department of Public Finance under the Ministry of Finance. The revised regulations aim to simplify and streamline the existing rules and procedures, as well as to introduce new concepts and practices that are relevant to the current context.
The financial regulations of Sri Lanka are available in three official languages: Sinhala, Tamil, and English. The Sinhala version is considered as the authoritative version in case of any discrepancy or ambiguity. The financial regulations can be accessed online or downloaded in PDF format from various sources, such as the official website of the Ministry of Finance, the Government Information Center, or the Facebook page of PothSL. The PDF files are free to download and use for personal or educational purposes.
The financial regulations of Sri Lanka are an essential resource for anyone who is interested in learning about or working with the public finance system of the country. They provide a comprehensive and detailed guide to the principles and procedures that govern the financial affairs of the government. They also serve as a reference and a tool for ensuring accountability, transparency, and good governance in the use of public funds and resources.
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