Excelsior Correspondent
JAMMU, Aug 22: For day to day expenditures of J&K Service Selection Board, the State Government has ordered creation of a Revolving Fund in the SSRB.
The fund shall comprise subscriptions made by the Government from time to time, the cost of OMR application forms and examination fee to be received from the candidates, interest earned thereon and any other income as may be authorized by the Government.
The fund shall be maintained in J&K Bank for purpose of operation as per convenience of the SSRB, which shall provide annual statement of receipts of expenditures to the Finance Department. A surplus in excess of Rs 50 lakh at the end of a financial year shall be credited to Government revenue.
The Revolving Fund, having the nomenclature of Revolving Examination Fund, shall be operated by the Secretary J&K Service Selection Board or such other officer authorized by the SSRB.
The expenditure out of Revolving Fund shall be confined to stationery for conducting exams, printing of application forms, question papers, answer books and allied material, advertisement charges, remunerations, honorariums, charges connected to compilation of results etc.
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