This wing is responsible for financial administration of the province. The major functions of this wing are as under:
- Preparation/consolidation of the provincial budget
- Release of current and development budget
- Updating of the Chart of Accounts
- Publication/distribution of budget documents
- Re-appropriation of funds that are beyond the competence of Administrative Departments
- Re-appropriation of funds from block allocation (current budget) against specific requests of ADs
- Assistance in preparation of the ADP
- Management of federal grants, loans, and all other matters related to the receipts from and payments to the federal Government
- Management of provincial share in the Federal Divisible Taxes
- Management of provincial taxes
- Management of public debt and loans to autonomous bodies
- Management of foreign aid
- Scrutiny of foreign loan agreements
- Dealing with commercial banks on behalf of the provincial government
- Financing of state trading operations
- Maintaining resource position of provincial government and dealings with State Bank of Pakistan
- Monitoring the progress of receipt and expenditure accounts prepared by the AG Punjab
- Monitoring the progress of disposal of audit paras
- Representing Finance Department in Public Accounts Committee of the Punjab Assembly and managing its allied matters
- Reconciling the receipts and expenditure of Government of the Punjab
- Managing appropriation accounts, commercial accounts and AG’s reports
- Managing interpretation and revision of financial rules, financial regulations, and delegation of financial powers
- Representing Finance Department in the Special Departmental Accounts Committee and Departmental Accounts Committee
- Conducting the meetings of quarterly review committee for monitoring the pace of settlement of audit observations/audit paras and directives of PAC
- Dealing with personnel administration and establishment matters of treasuries and local fund audit establishment
- Inspection of treasuries/district accounts offices and sub-treasuries
- Conducting inquiries in cases of embezzlement and misappropriation of public funds
- Formulating policy guidelines and regulatory instructions for enforcement of financial discipline
- Conducting pre-audit of payments to 144 Town/Tehsil Municipal Administrations, Development Authorities/WASAs, BISEs and government sector universities in Punjab
- Conducting post-audit of 144 TMAs, 3564 UAs, 134 Market Committee of Agriculture Department, 35 Auqaf Organizations, Punjab Benevolent Fund Board (both at provincial and district levels) and miscellaneous Local Fund Accounts
- Maintaining liaison with the Punjab Resource Management Program for reforms being undertaken under the program
- Release of grants-in-aid
- Grant of DDO powers to new DDOs and change of DDO powers
- Coordinating training of DDOs/officers of departments and districts