The BBMP has decided to discipline its financial management, having faced discrepancies for the past decade since it was not considering actual receipts of income.
Now, it will consider actual income receipts while drafting its budget.
BBMP commissioner Manjunath Prasad said the move will solve discrepancies and prevent mismanagement of funds. Despite falling short of its revenue targets envisaged in the budget, the BBMP gave whatever funds it had for developmental projects. In the end, the increasing pending bills from the contractors became an enormous financial burden for the civic body. Over the last decade, the pending amount has increased to Rs 15,428.67 crore.
The finance department advised the administrative department to formulate rules and get them vetted by the law department and the parliamentary affairs department.
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