The State Finances Audit Report provides an assessment of the financial performance of the Government during 2017-18. It contains three chapters. Chapter I of the report highlights that the Government of Odisha has maintained a revenue surplus over the last five years from 2013-14 to 2017-18. Revenue Receipts (Rs 85,204 crore) of the Government constituting 20.48 per cent of the GSDP (Rs 4,15,982 crore) increased by 14.67 per cent over the previous year (Rs 74,299 crore). Total expenditure during 2017-18 (Rs 94,821 crore) increased by 13.20 per cent over the previous year (Rs 83,766 crore).The State was able to achieve a revenue surplus of Rs13,367 crore in 2017-18 over the previous year (Rs 9,258) which was 3.21 per cent of the GSDP. The fiscal deficit of Rs9,360 crore was 2.25 per cent of the GSDP. The total Outstanding Liabilities of the State as of 31 March 2018 were Rs 97,164 crore. These constitute 23.36 per cent of the GSDP.
Chapter II on Financial management and Budgetary Control depicts that against total provision of Rs 1,20,028 crore during 2017-18, an expenditure of Rs 98,822 crore was incurred which resulted in savings of Rs21,206 crore (17.67 per cent). Surrenders of 100 per cent of total provision of Rs 2,686.12 crore were made under 45 sub heads (Rs10 crore or more in each case) under 17 grants. These represented different schemes / programmes / projects and activities.
Chapter III on financial reporting states that during 2017-18, utilisation certificates aggregating Rs38,427.91 crore remained outstanding against 35 departments of the State as of March 2018. Utilisation certificates amounting to Rs 1044.89 crore (5,510 vouchers) were pending for more than ten years in 22 departments as of March 2018 Non-submission /delay in submission of the UCs weaken the control on utilisation and provides scope for misutilisation / misappropriation / diversion of funds. Detailed Countersigned Contingent bills of Rs3.08 crore (17.47 per cent) were received against the Abstract Contingent (AC) bills of Rs 17.63 crore drawn during the year 2017-18, leaving an outstanding balance of AC bills of Rs 14.55 crore as on 31 March 2018. There is, therefore, no assurance that the amount of Rs14.55 crore had actually been incurred during the year for the purpose for which it was sanctioned / authorised by the Legislature.