New Delhi, Sep 8 (IANS): The 15th Finance Commission on Sunday expressed concern over the accountability mechanism and financial reporting of Panchayati Raj Institutions (PRIs) and Urban Local Bodies (ULBs) in Rajasthan.

A government statement said that the accountability mechanism and financial reporting of the urban local bodies in the state "continues to be weak".

"Only 68 per cent of the ULB accounts are certified during 2017-18," it added.

Moreover, it stressed that parking of money and multiplicity of bank accounts are major areas of concern in ULBs, hampering transparency & accountability.

"As on March 2018, Rs 1,652 crore was lying as unutilized closing balances in Municipal Funds," it said.

The Commission noted that the National Municipal Accounts Manual (NMAM) for ULBs was introduced for all ULBs to maintain the accounts on Accrual Based Accounting System from April 1, 2010, but only 60 ULBs were maintaining their accounts on the system.

"The Commission noted all the concerns highlighted by the representatives of the ULBs and promised to address them in its recommendations to the Central Government," the statement said.