J. Lenka, FCA M. Jhunjhunwala, FCA Ck J MT 4iiO(Iffll Dusmanta … · 2017-04-27 · Somanath...

J. Lenka, FCA

T. R. Pani, FCA

B. U. Ujha, FCA

J. K. Behera, FCA

A. M. Patro, FCA

M. Jhunjhunwala, FCA

Dusmanta Sahoo, FCA

Sanjay Kumar Swain, FCA

Somanath Kundu, FCA

R. K. Kar, FCA

Ck J ~ MT k 4iiO(Iffll ~ CHARTERED ACCOUNTANTS

L-138, BARAMUNDA HOUSING BOARD COLONY, BHUBANESWAR-751 003

Ph. : 0674-2354523, 9861805020, 9090080665 E-mail : cadusmanta©gmail.com

M IgI1101 J pla U *hJ Wall um Lei M E4

Date ...................... .....................

ie ha irma ii Person 1ada Il unicipal Council

ieJitOU he Financial Statement

-. auditea the accompanying financial statement of Baripada Municipal Council ih comprise, the balance sheet as at 31 " March 2016, the statement of Income &

\:1U1Ure and the Receipt & Payment account, and a summary of significant accounting Ui jL: ics and explanatory information.

n1$cmcfltS Responsibility for the financial statement

viunicipality's is responsible for the preparation and presentation of these financial tS dial give a true and fair view of the financial position, financial performance and

& )avment statement of the corporation in accordance with the accounting principle; '..:;.:.'. accepted in India, including the rules as specified in OMAR, 2012 (rules'). 'i his

also includes maintenance of adequate accounting records in accordance with the i ;ns of the rule for safeguarding the assets of the corporation and for preventing and

'iauds and other irregularities, selection and application of appropriate accounting making judgments and estimates that are reasonable and prudent and design.

:akI1ieiu1LLtiOfl and maintenance of adequate internal financial controls, that were operating CC 1I\ dy loi' ensuring the accuracy and completeness of the accounting records relevani to

L11 -,. arauon and presentation of the financial statements that give a true and fair viev% and arc tree from material misstatement, whether due to fraud or error.

Responsibility

: oibilitv

is to express an opinion on these financial statements based on our audit. \\:

akcn into account the provisions of the Rule, the accounting and auditing standards and ..wrs that trc required to be included in the audit report under the provisions of the Rules adc Li ere under.

uaed our audit in accordance with the standards on auditing specified by Institute ol'

1d :\ceountants of India ('1CAl"), those standards require that we comply with ethal ::.aiucuts arid plan and perform the audit to obtain reasonable assurance about whether .he

.L'ial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor's udgment, including the assessment of the risks of material misstatement of the financial

statement, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the corporation's preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the corporation has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Corporation as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the standard financial statements.

Observations 1. As explained to us, no physical verification offixed assets and inventories amounting to

Rs.229.33 cores has been carried out during the year. Hence we are unable to comment on the existence usability and physical condition of such fixed assets

2. Aging of Sundry Debtors of Rs.2. 70 Crores, is not available hence provision (as per OMAR, 2012 ("rules") )for the same has not been made.

3. Bank reconciliation statement has not been produced before us. The difference between Bank book and Cash book has been matched by passing adjustment entries vide voucher No840,843,844,845and 846.

4. The details of balances which are subject to reconciliation and confirmation is given in .1i'znexure-1

Opinion I ri Ul opinion and to the best of our information and according to the explanations given to us, eXcept for the effects of the matter described in the 'Observations' paragraph the aforesaid linancial statements give the information required by the Act in the manner so required and gi \ e a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Municipality as at 31 " March 2016 and its income & expenditure and its receipt & payment for the year ended on that date.

For JBMT & ASSOCIATES GCt41 Chartered Accountants

Firm Registration No - 320232E

-

CA DUSMANTA SAHOO Place: Raripada Partner

Membership No - 067399

Annexure-1

7-Ledger Code Ledger Name Amount

3202010 National Family Benefit Scheme (NFBS) 70,000

3202026 - - *

IHSDP - State Grant 3,38,223

3202041 GrantsforSolidWasteManagement - StateGrant 2,00,000 3208013 SJSRY - StepUp - TrainingProgramme 96,750

3208033 NULM - EST & P 2,50,280

3501001 SuppliersControlAccount 2,22,95,175 -

3501002 ContractorsControlAccount 1,82,12,455

3501104 Provident Fund Payable 14,13,861

35011071 Leave Salary payable 14,27,262

3501108 -- Revise Pay Arrear Payable 13,96,529

3502002 Insurance Premium Deductions 1,09,213

3502004 Service Tax Deductions/Recovery 2,37,483

3502005 Profession Tax Deduction 1,39,025

3502006 TDS - Employees 1,02,387 -

3502014 TDS - Scheme Expenses 4,722

3502021 Recovery Payable - Water Supply 7,17,000

3502032 Recovery Payable - CPF 22,98,243

3502033 Recovery Payable - LIC Premium 6,80,421

3502034 Recovery Payable - GPF 15,282

3502035 Recovery Payable - EPF 2,66,677

3502038 - VAT - 4% 80,344

3502041 RecoveryPayable - HousingLoan 7,110 -

3502042 VAT - 5% 14,12,423

3502048 Recovery Payable - Bank Loans 12,73,605

3502049 TDS - Professional 70,976

3504005 Refunds Payable - Other Income 68,046

4301002 - AAY/BPL/APL - Rice/Wheat/Sugar/Kerosene 4,800

4311001 PropertyTaxReceivable - CurrentYear 1,65,576 -

4311201 LightTaxReceivable-CurrentYear 2,01,786

4311301 WaterTaxReceivable-CurrentYear 43,088

4601004 LoansandadvancestoEmployees - FestivalAdvance 30,65,800

4601005 Loansand _advancestoEmployees - Food/rationAdvance 2,30,000

4601006 Loansandadvancesto _Employees - MiscellaneousAdvances 2,43,796

4601008 LoansandadvancestoEmployees - TravelAdvance 17,557

4601011 Advance to Store Keeper 23,220

4601012 Advance to Sanitary Inspector 15,47,295

4605001 Advance to Others - Permanent Advances 2,59,500

4605003 Advance to Others - Advance against Schemes 16,46,800

Baripada Municipal Council Balance Sheet As on March 31, 2016

Fund Codes

Account Codes

Particulars Schedule No. Amount Amount Amount

1 2 3 4 5 6 7 SOURCES OF FUNDS Reserves and Surplus

3100000 Municipal (General) Fund B-I 2,11,47,29,177 3110000 Earmarked Funds B-2 - 3120000 Reserves B-3 - 2,1 1,47,29,177 3200000 Grants, Contributions for Specific Purpose B-4 72!129521 !1660

Loans 3300000 Secured loans B-S -

3310000 Unsecured loans B-6 - - TOTAL OF SOURCES OF FUNDS 2 983 976 950 9838 APPLICATION OF FUNDS Fixed Assets including Statues & Heritage Assets B-11

4100000 Gross Block 2,451) 79,62,195 4110000 Less: Accumulated Depreciation -16,46,38,150

Net Block 29291)331)24,045 4120000 Capital workinprogress 38,46,140 2 9 29,71,70,184

Investments 4200000 Investment General Fund B-12 2,78,630 4210000 Investment Other Funds B-13 - 2 1 78,630

Current assets, loans & advances 4300000 Stock in hand (Inventories) B-14 -4,800

Sundry Debtors (Receivables) B-IS 4310000 Gross amount outstanding 2,70,85,446 4320000 Less: Accumulated provision against bad and

doubtful receivables -

4400000 Prepaid expenses B-16 - 4500000 Cash and Bank Balances B-17 56,28,91,048 4600000 Loans, advances and deposits B-18 78,78,874

Total of Current Assets (A) 59978,50,568

Chartered Accountants

FRN :320232E

CA DUSMANTA SAHOO

M.No: 067399

Partner

Date:

Acc ant

Baripada MunicipalItY Barip5cL4uIkjpaljtVr

For Baripada Municipal Council

Fund Codes

Account Codes

Particulars Schedule No. Amount Amount Amount

1 2 3 4 5 6 7 Current Liabilities and Provisions

3400000 Deposits received B-7 1,83,53 1,893 3410000 Deposit Works B-8 -

3500000 Other liabilities (Sundry Creditors) B-9 3,92,94,652 3600000 Provisions B-b -

Total of Current Liabilities (B) 5 9 76 948,545 Working Capital (Current Assets less Current liabilities i.e. A-B)

54,02,02,023

4700000 Other Assets B-19 4800000 Miscellaneous Expenditure (to the extent not

written off) B-20 -

Capital Deficit -

TOTAL OF APPLICATION OF FUNDS 2 183 976 950,838 Notes to the Balance Sheet

Notes to Balance Sheet

B-21A

For )BMT & ASSOCIATES

Baripada Municipal Council Income Expenditure Statement for the period from 1st April, 2015 to 31st March, 2016

Fund Account Item/Head of Code Schedu Current Year Previous Year 1 2 3 4 5 6

INCOME 1100000 Tax Revenue IEI 57 1,91,663 1,39,23,682 1200000 Assigned Revenues and Compensations 1E2 2,66,27 5 000 4,64,24 5 000 1300000 Rental Income from Municipal Properties 1E3 62,78,674 2 1,39,283 1400000 Fees and User Charges 1E4 1,01,77,472 5 540,050 1500000 Sale and Hire Charges 1E5 31 ,08,874 44,568 1600000 Revenue Grants, Contribution and Subsidies 1E6 2,98,23,782 1700000 Income from Investments 1E7 -

1710000 Interest Earned 1E8 2,01 9 57,986 1,78 5 16,359 1800000 Other Income 1E9 1,309 600

A Total-INCOME 10 9 19 966 9759 8 108 988 9542 EXPENDITURE

2100000 Establishment Expenses IE 10 5,03,3 5,049 7,72,70,017 2200000 Administrative Expenses IEI 1 45,91,917 22,39,279 2300000 Operations and Maintenance 1E12 3 541,70,068 2,35,37,104 2400000 Interest and Finance Charges IE13 6,75,146 60,604 2500000 Programme Expenses IE14 46,800 5,39,347 2600000 Revenue Grants, Contribution and Subsidies IE15 -

2700000 Provisions and Write off 1E16 800 1 1-33,200 2710000 Mliscellaneous Expenses 1E17 4,74,184 5,1 1,858 2720000 Depreciation 6,51,74,471 2,96,5 8,826 B Total-EXPENDITURE 15 954975 9635 13 939,50 9235

C=A-B Gross surplus! (deficit) of income over expenditure before Prior Period Items

-5,35,08,875 -5,30,61,693

D Add/Less: Prior period Items (Net) IE1 8 -

E=C +1- D Gross surplus! (deficit) of income over -5,35,08,875 -5,30,61,693

F Less: Transfer to Reserve Funds 1 67,350 INet balance being surplus/ deficit carried 1 -5,35,76,225 -5,30,61,693

For )BMT & ASSOCIATES

Chartered Accountants

FRN :320232E

)4)

CA DU MANTA SA 00

M.No: 067399

Partner

Date:

For Baripada Municipal Council

MIER r icIty Baripada MunIcipafla

? of the ULB: Baripada Municipal Council Jule B-i: Municipal (General) Fund:

Date: 31/Mar/2016

nt Code Particulars

Water Supply,Swerage ,an(

Road Development and Maintainance

Drainage

Bustee Services

Commercial Projects

General Account

Fund Codes

00000 Opening Balance as per the last account (Rs.) 2,168,305,402

Additions during the year(Rs.)

09001 Surplus for the year 0

00000 Transfers 0

Total (Rs.) 9__ Deductions during the year (Rs.)

09001 Deficit for the year 53,576,225

00000 Transfers 0

Total (Rs.) 53,576,225

Balance at the end of the current year(Rs.) 2,114,729,177

2T

Execu B

cer ari 4nicirpality

Name of the ULB: Baripada Municipal Council Schedule B-2: Earmarked Funds (Special Funds/Sinking Fund/Trust or Agency Fund)

As On Date: 31/Mar/2016

Particulars Special Fund

1 Special Fund

2 Special Fund

3 Special Fund

4 Special Fund

5 Pension

Fund

General Provident

Fund

Account Code

a) Opening balance -- -- -- -- -- -- --

b) Additions to the Special Fund -- -- -- -- -- --

• Transfer from Municipal Fund -- -- -- -- -- --

• Interest/Dividend earned on Special Fund -- -- -- -- --

Investments -- -- -- -- -- -- --

Profit on disposal of Special Fund Investments -- -- -- -- -- -- --

Appreciation in Value of Special Fund Investments -- -- -- -- -- -- --

Other addition (Specify nature) -- -- -- -- -- -- --

Total (b) -- -- -- -- -- -- --

Total(a+b) -- -- -- -- --

(c) Payments out of funds -- -- -- -- -- -- --

[I] Capital expenditure on: -- -- -- -- -- -- --

• Fixed Asset -- -- -- -- -- -- --

• Others -- -- -- -- -- -- --

II] Revenue Expenditure on: -- -- -- -- -- -- --

• Salary, Wages and allowances etc -- -- -- -- -- -- --

• Rent Other administrative charges -- -- -- -- -- -- --

Ill] Other: -- -- -- -- -- -- --

Loss on disposal of Special Fund Investments -- -- -- -- --

er P4

Name of the ULB: Baripada Municipal Council

Schedule B-3: Reserves


Additions Balance at the Opening during the year

Deductions end of the

Account Code Particulars Total (Rs.) during the year balance (Rs.) (Rs.) current year

(Rs) (Rs.)

1 2 3 4 5(3+4) 6 7(5-6)

3121000 0 0 0 0 0 Capital Contribution

3121100 Capital Reserve 0 0 0 0 0

3122000 Borrowing Redemption Reserve 0 0 0 0 0

3123000 Special Funds (utilised) 0 0 0 0 0

3124000 Statutory Reserve 0 0 0 0 0

3125000 General Reserve 0 0 0 0 0

3126000 Revaluation Reserve 0 0 0 0 0

0 0 0 0 0

ccou 1

ir

- PAC

c1pality

Name of the ULB: Baripada Municipal Council Schedule B-4: Grants & Contribution for Specific Purposes


Particulars

Grants from Central

Government (Rs.)

Grants from State

Government (Rs.)

Grants from Other

Government Agencies(Rs.)

Grants from Financial

Institutions (Rs.)

Grants from Welfare

Bodies (Rs.)

Grants from International

Organizations (Rs.)

Others (Rs.)

Account Code 3201000 3202000 3203000 3204000 3205000 3206000 3208000

(a) Opening balance 480,437,836 225,821,660 0 0 0 0 12,696,494

(b) Additions to the Grants * 56,005,28 138,871,792 0 0 0 0 1,000,000

• Grant received during the year

• Interest/Dividend earned on Grant Investments

• Profit on disposal of Special Fund Investments

• Appreciation in Value of Grant Investments

• Other addition (Specify nature)

Total(b) 56,005,289 138,871,792 0 0 0 0 1,000,000

Total (a + b) 536,443,125 364,693,452 0 0 0 0 13,696,494

(c) Payments out of funds 162,924,904 26,356,773 0 0 0 0 2,629,734

• Capital expenditure on Fixed Assets

• Capital Expenditure on Other

• Revenue Expenditure on

o Salary, Wages, allowances etc.

o Rent

• Other:

o Loss on disposal of Grant Investments

o Diminution in Value of Grant Investments

o Grants Refunded

• Other administrative charges

Total (c) 162,924,904 26,356,773 0 0 0 0 2,629,734

Net balance at the year end —(a + b) - (c) 373,518,221 338,336,679 0 0 0 0 11,066,760

Executive Officer Barpada NuniCiPaitY

tme of the ULB: Baripada Municipal Council

hedule B 5: Secured Loans

On Date: 31/Mar/2016

count Code Particulars Current Year Amount(Rs)

Previous Year Amount(Rs)

1 2 3 4 3301000 Loans from Central Government 0 0

3302000 Loans from State Government 0 0

3303000 Loans from Govt. bodies & Associations 0 0

3304000 Loans from international agencies 0 o 3305000 Loans from banks & other financial institutions 0

3306000 Other Term Loans 0 0

3307000 Bonds & debentures 0 0

3308000 Other Loans 0 0

0 0

Exec 4CCT

8ar* nicipaI ity

-ne of the ULB: Baripada Municipal Council

iedule B 6: Unsecured Loans




1 2 3 4 --

3311000 Loans from Central Government o 0

3312000 Loans from State Government o 0

3313000 Loans from Govt. bodies & Associations 0 0

3314000 Loans from international agencies 0 0

3315000 Loans from banks & other financial institutions 0 0

3316000 Other Term Loans 0 0

3317000 Bonds & debentures 0 0

3318000 Other Loans 0 o Total Un-Secured Loans o 0

E4 6W Ba iipality

me of the ULB: Baripada Municipal Council

iedule B-7: Deposits Received On Date: 31/Mar/2016



1 2 3 4

3401000 From Contractors 18,204,753

-

12948,146

3402000 From Revenues 0 0

3403000 From Staff 0 0

3408000 From Others 149,140 149,140

Total deposits received 18,353,893 - 13,097,286

Ex cpaIity Ban


iedule B-8: Deposits Works


Opening balance Additions Balance

as the beginning during the Utilization I outstanding at

ccount Code Particulars of the year

current year expenditure the end of the

Amount (Rs.) Amount Amount (Rs.) current year

(Rs.) Amount (Rs.)

1 2 3 4 5 6

3411000 Civil Works 0 0 0 0

3412000 Electrical works 0 0 0 0

3418000 Others 0 0 0 0

Total of Deposit Works 0 0 0 0

8 !Execu Y

ne of the ULB: Baripada Municipal Council

edule B 9: Other Liabilities (Sundry Creditors)




1 2 3 4 3501000 Creditors 15,887,005 58,510,032

3501100 Employee Liabilities 22,551,045 5,978,744

3501200 Interest Accrued and Due 0 0

3502000 Recoveries Payable 911,313 3,588,250

3503000 Government Dues Payable 0 0

3504000 Refunds Payable -68,046 0

3504100 Advance Collection of Revenues 0 0

3508000 Others 0 0

3509000 Sale Proceeds 13,335 13,335

Total Other liabilities (Sundry Creditors) 39,294,652 68,090,361

Exec Officer Barjpad Municipality


hedule B-lU: Provisions




1 2 3 4 3601000 Provision for Expenses 0 0

3602000 Provision for Interest 0 0

3603000 Provision for Other Assets 0 0 Total Provisions 0 0

Ex lve ficer drip a Municipality


Schedule B 11: Fixed Assets

As on Date: 31/Mar/2016

Account Particulars Gross Block Code

Accumulated Depreciation Net Block

Opening Balance (Rs.)

Additions during the period(Rs.)

Deductions during the period(Rs.)

Cost at the end of

the year (Rs.)

Opening Balance (Rs.)

Additions during the

period (Rs.)

Deductions during the period(Rs.)

Total at the end of

the year (Rs.)

At the end of current year (Rs.)

At the end of previous year (Rs.)

1 2 3 4 5 6 7 8 9 10 11 12

4101000 Land 2,102242,525 4,589,075 0 2106831600 0 0 0 0 2,106,831,600 2,102,242,525

4102000 Buildings 10,471,183 14,923,163 0 25394346 2,026,431 917131 0 2,943,566 22,450,780 8,444,752

Infrastructure

4103000 Roads and Bridges 270,692,357 16,363,619 0 287055976 90,058,941 57411195 0 147,470.140 139,585,836 180,633,412

4103100 Sewerage and drainage 7,843,687 16,701,243 0 24544930 2,328,494 4908986 0 7,237,480 17,307,450 5,515,193

4103200 Waterways 211,502 0 0 211502 42,997 21150 0 64,147 147,355 168,505

4103300 Public Lighting 2,423,615 12,380 0 2435991 1,222,721 487199 0 1,709,928 726,06 1,200,886

Other Assets

4104000 Plants& Machinery 1,496,710 0 0 1496710 449,013 149671 C 598,684 898,026 1,047,697

4105000 Vehicles 2,846,000 0 0 2846000 1,546,200 569200 0 2,115,400 730,600 1,299,800

4106000 Office & other equipment

23,101 0 0 23101 14,451 7700 0 22,156 941 8,645

4107000 Furniture, fixtures, fittings and electrical

2,450,913 0 0 2450913 245,092 245091 0 490,183 1.960.730 2,205,821

4108000 Other fixed assets 4,544,038 27.392 0 4571430 1,529,323 457143 0 1,986,466 2,584,964 3,014,715

4109000 Assets under Disposal 99,692 0 0 99692 0 0 0 0 99,692 99,692

Total 240534532 52616872 0 2457962195 99463680 65174470 0 164638150 2293324045 2305881643

Exec' i6ficer 4u'*aIity


iedule B-12: Investments - General Funds


ccount Code Particulars With Whom

Invested Face Value

(Rs.)

Current Year Carrying Cost

(Rs.)

Previous Year Carrying Cost

(Rs.)

1 2 3 4 5 6

4201000 Central Government Securities 0 0

4202000 State Government Securities 0 0

4203000 Debentures and Bonds 0 0

4204000 Preference Shares 0 0

4205000 Equity Shares 0 0

4206000 Units of Mutual Funds 0 0

4208000 Other Investments 278,630 278,630

4209000 Provisions 0 0

Total of Investments General Funds 278,630 278,630

I_k)

u n cipal ity


iedule B-13: Investments - Other Funds


ccount Code Particulars With Whom

Invested Face Value

(Rs.)

Current Year Carrying Cost

(Rs.)

Previous Year Carrying Cost

(Rs.)

1 2 3 4 5 6

4211000 Central Government Securities 0 0

4212000 State Government Securities 0 0

4213000 Debentures and Bonds 0 0

4214000 Preference Shares 0 0

4215000 Equity Shares 0 0

4216000 Units of Mutual Funds 0 0

4218000 Other Investments 0 0

4219000 Provisions 0 0

Total of Investments General Funds 0 0

E uti ficer

Bar, a Municipality


hedule B-14: Stock In Hand (Inventories)


ccount Code Particulars Current Year Amount(Rs)


1 2 3 4 4301000 Stores Loose -4,800 0

4302000 Tools Others 0 0

4308000 Other Stores 0 - 0

Total Stock In Hand -4800 0

E&efrr B4øuniciPa1itY

AC


Schedule B-15: Sundry Debtors (Receivables)

As On Date: 31/Mar/20 16

Account Code Particulars Gross

Amount (Rs.) Provision for Outstanding

Revenues (Rs.)

Current Year Net Amount (Rs.)

Previous Year Net Amount (Rs.)

2 3 4 5 6

4311000 Receivables for Property Taxes

Less Than 5 Years 25,177,757

More Than 5 Years* 0

Sub-Total 25,177,757

Less: State Government Cesses/Levies in Taxes -

Control Accounts 0

Net Receivables of Property Taxes 25,177,757 0 25,177,757 25,816,196

4311900 Receivables for other Taxes

Less than 3 years 0

More than 3 years * 0

Sub-Total 0

Less: State Government Cesses/Levies in Taxes -

Control Accounts 0

Net Receivables of Other Taxes 0 0 0 0

Receivables of Cess Income

Less than 3 years 0

More than 3 years* 0

Sub-Total 0 0 0 0

4313000 Receivables for Fees and User Charges

Less than 3 years 0


Sub-Total 0 0 0 0

4314000 Receivables from Other Source

Less than 3 years 1,907,689


Sub-Total 1,907,689 0 1,907,689 1,907,689

4315000 Receivables from Government 0

Sub-Total 0 0 0 0

Total of Sundry Debtors (Receivables) 27,085,446 0 27,085,446 27,723,885

ne of the ULB: Baripada Municipal Council

iedule B-16: Prepaid Expenses




1 2 3 4

4401000 Establishment 0 0

4402000 Administrative 0 0

4403000 Operations and Maintenance 0 0

Total Prepaid expenses 0 0

ExecOfjcer Bariq4unicipastty

lAME OF THE ULB: Baripada Municipal Council

chedufe B-17: Cash and Bank Balances

on Date: 31/Mar/2016

Account Code Particulars Current Year Amount(Rs)


1 2 3 4 4501000 Cash 0 1

Balance with Bank - Municipal Funds

4502001 Nationalised Bank 320,086,637 376,813,700

4502002 Other Scheduled Bank 28984,387 0

4502003 Co-operative Bank 0 0

4502004 Post Office Account 0 0

Sub-total 349,071,024 376,813,700

Balance with Bank - Special Funds


4504002 Other Scheduled Bank 1,841,901 1,983,090



Sub-total : 161,797,593 211777,845

Balance with Bank - Grant Funds


4506002 Other Scheduled Bank 5,573,402 0



Sub-total : 52,022,430 36876,632

Total Cash and Bank balances / ^---) 562,891,048 625,468,178

Exec t1Cer

B a r i paøj

~~q f i p& itV


edule B-18: Loans, advances, and deposits

on Date: 31/Mar/2016

Account Code

Particulars

Opening Balance at the Beginning of

the Year (Rs.)

Paid during the Current Year (Rs.)

Recovered during the Current Year

(Rs.)

Balance outstanding at the end of the Year

(Rs.)

1 2 3 4 5 6

4601000 Consolidated Loans and advances to Employees 2,499,357 2,678,311 50,000 5,127,668

4602000 Consolidated Employee Provident Fund Loans 0 0 0 0

4603000 Consolidated Loans to Others 0 0 0 0

4604000 Consolidated Advance to Suppliers and Contractors 0 0 0 0

4605000 Consolidated Advance to Others 1,906,300 0 0 1,906,300

4606000 Consolidated Deposits with external Agencies 844,906 0 0 844,906

4608000 Consolidated Other current Assets 0 0 0 0

Sub Total 5,250,563 2,678,311 50,000 7,878,874

Ex - ficer BariiunicipaJjty

4610000

Less: Accumulated Provisions against Loans, Advances and deposits [Schedule B-18 (a)] 0 0 0 0

-T Total Loans, advances, and deposits 5,250,563 2,678,311 50,000 7,878,874

Exe ie r

Barid3MUfl1CiPaitY


edule B-18 (a): Accumulated Provisions against Loans, Advances, and Deposits


Account Code Particulars Current Year Amount(RS.)

Previous Year Amount(RS.)

1 2 3 4

4611000 Loans to Others 0 0

4612000 Advances 0 0

4613000 Deposits 0 0

Total Accumulated Provision 0 0

fficer Municipality


edule B-i 9:Other Assests




1 2 3 4

4701000 Deposit Works 0 0

4703000 Other Asset Control Accounts 0 0

4704000 Clearing Accounts 0 0

Total Other Assests 1 0 0

Of~L fficer

BJucjpitY


edule B-20: Miscellaneous Expenditure (to the extent not written off)

On Date: 31fMar/2016

Account Codes Particulars Current Year Amount(Rs.) Previous Year Amount(Rs.)

1 2 3 4

4801000 Loan Issue Expenses 0 0

4802000 Deferred Discount on Issue of loans 0 0

4803000 Others 0 0

TotalMiscellaneousexpenditure 0 0

Ex ive Off icer lveffic ip da Municipality

E OF THE ULB: Baripada Municipal Council

duIe IE 1: Tax Revenue

period from 01/Apr/2015 to 31/Mar/2016

ACCOUNT CODE PARTICULARS CURRENT YEAR

AMOUNT(Rs.) PREVIOUS YEAR

AMOUNT(Rs.)

1 2 3 4

1100100 Property Tax 3,494,354 8,702,301

1100200 Water Tax 798,387 1,740,460

1100300 Sewerage/Drainage Tax 1,372 0

1100400 Conservancy/Latrine Tax 776 0

1100500 Lighting Tax 1,496,774 3,480,921

1100600 Education Tax 0 0

1100700 Vehicle Tax 0 0

1100800 Tax on Animals 0 0

1100900 Electricity Tax 0 0

1101000 Professional Tax 0 0

1101100 Advertisement Tax 0 0

1101200 Pilgrimage Tax 0 0

1101300 Export Tax 0 0

1105100 Octroi and Toll 0 0

1108000 Others Taxes 0 0

A Sub - Total 5,791,663 j 13,923,682

E e r B aMunicipality

Less: Tax Remissions and Refund [Schedule IE - 1 8000 0

(a)]

B Sub-Total -8,000 0

A-B rotal tax revenue 5,799,663 13,923,682

- E4eficer B3Ja Municipauty

ime of the ULB: Baripada Municipal Council

iedule IE1 (a): Remission and Refund of taxes

the period from O1/Apr/2015 to 31/Mar/2016

count Code Particulars Current Year Amount (Rs.)

Previous Year Amount (Rs.)

1 2 3 4

2709001 Property Tax 0 0

2709002 Others -8,000 0

Total refund and remission of tax revenues -8,000 0

ity


iedule IE 2: Assigned Revenues and Compensation:

the period from O1/Apr/2015 to 31/Mar/2016

count Code Particulars Current Year Amount (Rs.)


1 2 3 4

1201000 Taxes and Duties collected by other Governments. 0 0

1202000 Compensation in lieu of Taxes and Duties 26,627,000 46,424,000

1203000 Compensations in lieu of Concessions o 0

rotal assigned revenues and compensation 26,627,000 46,424,000

CCO

ME OF THE ULB: Baripada Municipal Council

iedule IE 3: Rental income from Municipal

the period from 01/Apr/2015 to 31/Mar/2016

COUNT CODE PARTICULARS CURRENT YEAR

AMOUNT(Rs.) PREVIOUS YEAR

AMOUNT(Rs.)

1 2 3 4

1301000 Rent from Civic Amenities 4,479,892 183,983

1302000 Rent from Office Buildings 0 0

1303000 Rent from Guest Houses 20,300 1,200

1304000 Rent from lease of lands 1,778,481 1,954,100

1308000 Other rents 0 0

A Sub - Total 6,278,674 2,139,283

Less:Rent Remission and Refunds 0 0

B Sub - Total 0 0

A-B Total Rental Income from Municipal Properties 6,278,674 2,139,283

Bari


edule IF 4: Fees and User Charges Income headwise


ccount Code Particulars Current Year Amount (Rs.)


1 2 3 4 1401000 Empanelment and Registration Charges 5,000 0

1401100 Licensing Fees 953,956 125,242

1401200 Fees for Grant of Permit 0 0

1401300 Fees for Certificate or Extract o 0

1401400 Development Charges 0 0

1401500 Regularization Fees 0 0

1402000 Penalties and Fines 8,813 0

1404000 Other Fees 6,387,741 250,198

1405000 User Charges 1,191,194 101,790

1406000 Entry Fees 745,822 22,956

1407000 Service / Administrative Charges 697,145 39,864

1408000 Other Charges 187,801 0

r

A Sub - Total 10,177,472 540,050

Less: Fees and User Charges Remissions and Refunds 0 0

B Sub - Total 0 0

A-B Total income from Fees & User Charges 10,177,472 540,050

~padaMuoniclur, , I- tycer

Ra


iedule IF 5: Sale and Hire Charges


Account Code Particulars Current Year Amount(Rs.)

Previous Year Amount(Rs.)

1 2 3 4 1501000 Sale of Products 1,789,544 0

1501100 Sale of Forms and Publications 913,600 0

1501200 Sale of stores and scrap 352,640 0

1503000 Sate of Others 0 0

1504000 Hire Charges for Vehicles 53,090 44,568

1504100 Hire Charges on Equipments 0 0

Fotal Income from Sale and Hire charges - income head-wise. 3,108,874 44,568

A cer

Bar-i a Municipafity

me Of The ULB: BARIPADA MUNICIPAL COUNCIL

iedule IE-6: Revenue Grants, Contributions and Subsidies:

the Period from 01/Apr/2015 to 31/Mar/2016



1 2 3 4 1601000 Revenue Grant 29,823,782

1602000 Re-imbursement of expenses 0 0

1603000 Contribution towards schemes 0 0

Total Revenue Grants, Contributions and Subsidies 29,823,782 0

ffic er a

_X

Municipa'ity


iedule IE 7: Income from Investments General Fund

the Period from O1/Apr/2015 to 24/Mar/2016



1 2 3 4 1701000 Interest on Investments 0 0

1702000 Dividend 0 0

1703000 Income from projects taken upon commercial basis 0 0

1704000 Profit in Sale of Investments 0 0

1708000 Others 0 0

Total Income from Investments 0 - 0

Officer jV Bar

da Municipijy


hedule IE 8: Interest Earned


ccount Code Particulars Current Year Amount(Rs)


1 2 3 4 1711000 Interest from Bank Accounts 20,090,709 17,816,359

1712000 Interest on Loans and advances to Employees. 0 0

1713000 Interest on loans to others 0 0

1718000 Other Interest 67,277 - 0

Total - Interest Earned 20,157,986 - 17,816,359

ficer

(4tAs. A MuncPahtY


eduIe IE 9: Other Income




1 2 3 4 1801000 Deposits Forfeited o 0

1801100 Lapsed Deposits 0 0

1802000 Insurance Claim Recovery 0 0

1803000 Profit on Disposal of Fixed asses 0 0

1804000 Recovery from Employees 0 0

1805000 Unclaimed Refund! Liabilities 0 0

1806000 Excess Provisions written back 0 0

1808000 Miscellaneous Income 1,309 600

Total Other Income 1,309 600

4qigunicipatitY

ime of the ULB: Baripada Municipal Council

iedule IE 10: Establishment Expenses

-the period from 01/Apr/2015 to 31/Mar/2016



1 2 3 4

2101000 Salaries, Wages and Bonus 34,790,046 40,779,007

2102000 Benefits and Allowances 21,920 1,409,303

2103000 Pension 13,335,823 34980,624

2104000 Other Terminal and Retirement Benefits 2,187,260 101,083

Total Establishment Expenses 50,335,049 77,270,017

cer pal ily


iedule IE 11: Administrative Expenses

the period from 01IAprI2015 to 31/Mar/2016



1 2 3 4

2201000 Rent, Rates and Taxes 211,790 587,986

2201100 Office maintenance 0 10,007

2201200 Communication Expenses 69,959 7,135

2202000 Books and Periodicals 0 0

2202100 PrintingandStationery 361,611 226,634

2203000 Travelling and Conveyance 1,050,034 341,443

2204000 Insurance 82,708 10,772

2205000 Audit Fees 0 11,200

2205100 Legal Expenses 92,750 83,200

2205200 Professional and other Fees 0 188,598

2206000 AdvertisementandPublicity 2,723,065 772,304

2206100 Membership and subscriptions 0 0

2208000 Other Administrative Expenses 0 0

Totaladministrativeexpenses 4,591,9171 2,239,279

M uflipa1ty i arp

me of the ULB: Baripada Municipal Council iedule IE 12: Operations & Maintenance

•the period from 01/Apr/2015 to 31/Mar/2016



1 2 3 4

2301000 Power and Fuel 4,471,242 2,168,884

2302000 Bulk Purchases 0 851,370

2303000 Consumption of Stores -90,440 1 , 809,560

2304000 HireCharges 15,484 87,780

2305000 RepairsandmaintenanceInfrastructureAssets 22,889,679 18,164,057

2305100 Repairs and maintenance Civic Amenities 4,586,397 0

2305200 RepairsandmaintenanceBuildings 1,192,305 0

2305300 Repairs and maintenance Vehicles 28,660 148,476

2305900 Repairs and Maintenance - Others 1,076,741 118,176

2308000 Otheroperatingandmaintenanceexpenses 0 188,801

TotalOperationsandMaintenance 34,170,068 23,537,104

n ic ipality

me of the ULB: BARIPADA MUNICIPAL COUNCIL

iedule IE 13: Interest and Finance Charges




1 2 3 4

2401000 Interest on Loans from Central Government 0 0

2402000 Interest on Loans from State Government o 0

2403000 Interest on Loans from Government Bodies and Associations o 0

2404000 Interest on Loans from International Agencies. 0 0

2405000 Interest on Loans from Banks & Other Financial Institutions. 0 58,597

2406000 Other Interest 0 0

2407000 Bank Charges 956 2,007

2408000 Other Finance Expenses 674,190 0

Total Interest and Finance Charges 675,146 60 , 604

ime of the ULB: BARIPADA MUNICIPAL COUNCIL

hedule 1E14: Programme Expenses




1 2 3 4 2501000 Election Expenses 0 539,347

2502000 OwnProgrammes 46,800 0

2503000 Share in Programmes of others 0 0

Total Programme Expenses 46,800 539,347

pa$lt


iedule 1E15: Revenue Grants, Contributions and Subsidies




1 2 3 4 2601000 Grants 0 0

2602000 Contributions 0 0

2603000 Subsidies 0 0

Total Revenue Grants, Contributions 0 0

1;; Fn


riedule 1E16:Provisions and Write off




1 2 3 4

2701000 Provisions for doubtful receivables o 133,200

2702000 Provision for other Assets 0 0

2703000 Revenues written off 0 0

2704000 Assets written off o 0

2705000 Miscellaneous Expense written off o 0

2709000 Consolidated Tax Remission & Refunds 8000 0

2709100 ConsolidatedFeesRemissionandRefund 0 0

Total Provisions and Write off 8,000 133,200

icer

[me of the ULB: Baripada Municipal Council

iedule lE17: Miscellaneous Expenses




1 2 3 4

2711000 Loss on disposal of Assets 0 0

2712000 Loss on disposal of Investments 0 0

2718000 Other Miscellaneous Expenses 474,184 511,858

Total Miscellaneous expenses 474,184 511,858

'

'1&fltCIpaIlty E)

me of the ULB: BARIPADA MUNICIPAL COUNCIL

iedule 1E18: Prior Period Items (Net)




1 2 3 4

1851000 Taxes, Other - Revenues 0 0

1852000 Recovery of revenues written off a 0

1853000 Other income o 0

Sub - Total Income (a) 0 0

Expenses

2855000 Bank Charges 0 0

2856000 Other Finance Expenses a 0

2858000 Other Expenses 0 0

Sub Total Income (b) 0 0

Total Prior Period (Net) (a—b) 0 0

2 xe4iiceF Bar.4(luncjpajjty

SEHEDULE 21A- SIGNIFICANT ACCOUNTINGPOLICIES

Schedule 21A: Significant Accounting Policies for Preparation of the Balance Sheet as at 31st March 2016.

Common Principles

> The financial statements prepared by the Baripada Municipality under double

entry accrual accounting system for the financial year to 31st March 2016.

> All assets, which are under the ownership and permissive possession of the

Baripada Municipality, are accounted. Similarly, all liabilities payable on 31st

March 2016 are considered in the Balance Sheet.

> Assets constructed/purchases by some other agency/government and handed

over to the Baripada Municipality have been accounted based on ownership

of the asset. If there has been a transfer of ownership without any

consideration, then the asset has been valued at Rs.1/- and recognized in the

Balance Sheet.

> Revenue heads have been recognized only when there are measurable and

there is reasonable certainty of collection. If the levy of any income or user

charge is in dispute and any legal case is pending against it, it has not been

taken as the income receivable of the Baripada Municipality.

> Revaluation of assets has not been considered at the time of preparing the

Balance Sheet.

> All figures are in Indian Rupees.

Basic Assumptions

> Provision is made for all known liabilities and losses even though the amount

cannot be determined with certainty and represents only a best estimate in

light of available information.

> The financial statements normally prepared on the assumption that an urban

local body is a going entity and will continue in its service operation for the

foreseeable future. Hence, it is assumed that the Baripada Municipality has

neither the intention nor the need to liquidate or curtail materially the scale of

its service operations.

> In order to achieve comparability of the financial statements accounting

principles are followed consistently.

Property and Other Taxes

Revenue in respect of Property and Other Taxes' are recognized in the period

in which it becomes due and demand is ascertainable.

L /

> In case of new or changes in assessments, it is accrued in the month in which the demand is served.

> Interest element and penalties, if any, in demand are reckoned only on receipt.

• The liabilities towards dues to the GoO for collections on its behalf are

recognized as and when they are collected.

• Write-offs of taxes is adjusted against the provisions made and to that

extent the recoverable gets reduced.

Cess

> Revenue in respect of collection of 'cess income' with returns (on filling of returns

by the dealers) is recognized on actual receipt.

> Any subsequent collection or recovery of 'receivables of cess income', which

was already written off, is recognized as a 'prior period income'.

> Demands raised with retrospective effect will be treated as prior period income

to the extent they pertain to earlier years.

Water Supply

> Revenue in respect of 'water tax, is recognised in the period in which they

become due, i.e., when the bills are raised. It is to be noted that water tax

and related taxes may also be included in the bill raised for the property tax.

> Revenue in respect of 'water tanker charges, road damage recovery

charges, and penalties' is recognized on actual receipt.

Rentals, Fees and Other Sources of Income

> Revenue in respect of advertisement rights is accrued either based on demand

or based on the contract.

> Renewable license are those, which are granted by the Baripada Municipality to

give privilege of engaging in a regulated activity. Often such licenses are

granted in the first year to the person to be engaged in the activity and

renewed every year thereafter, until such person cancels for some reason (like

death of the person, discontinuance of the activity, etc.). In this case, license

income to be recognized on accrual basis, i.e., recognized whenever it is

due, provided the person had not informed of cancellation prior to issue of the

> Rental Income from the provision of housing/otherwise is recognized as the

income is earned with the terms of the tenancy agreement.

> Other income, in respect of which demand is ascertainable and can be raised in

regular course of operations of the Baripada Municipality, is recognized in the

period in which they become due, i.e., when the bills are raised.

> The other incomes, which are or an uncertain nature or for which the amount

is not ascertainable or where demand is not raised in regular course of

operations is recognized on actual receipt.

> Interest element and penalties, if any, in demand is reckoned only on receipt.

Grants

> General grants, which are of a revenue nature, is recognized as income on

actual receipt.

• Grants towards revenue expenditure, received prior to the incurrence of the

expenditure, is treated as a liability till such time that the expenditure is

incurred.

• Grants received or receivable in respect of specific revenue expenditure is

recognized as income in the accounting period in which the corresponding

revenue expenditure is charged to the 'Income and Expenditure Account'.

• Grants received towards capital expenditure is treated as a liability till such time

that the fixed asset is constructed or acquired. On construction/acquisition of a

fixed asset out of the grants so received, the extent of liability corresponding to

the value of the asset so constructed/acquired shall stand reduced and the

amount is treated as a capital receipt and is transferred from the respective

'specific grant account' to the 'capital contribution'.

> Capital grants received as a nodal agency or as implementing agency for an

intended purpose, which does not result in creation of assets with ownership

rights for the Baripada Municipality, to treated as a liability till such time it is

used for the intended purpose. Upon utilization for the intended purpose, the

extent of liability shall stand reduced with the value of such utilization and no

further treatment, as a capital receipt, is required.

> Grants in the form of non-monetary assets (such as fixed assets given at a

concessional rate) is accounted for on the basis of the acquisition cost. In case

a non-monetary asset is received free of cost, it is recorded at a nominal value

(e.g., Rupee One).

> Income on investments made from 'specific grant received in advance' is

recognized and credited to the 'specific grant', whenever accrued. Profit/loss,

if any, arising on disposal of investments made from the 'specific grant received in

advance' shall also be recognized and credited/debited to the 'specific grant'.

Borrowings or Loans Received

> Interest expenditure on loans is recognized on accrual basis.

5T

> Interest on borrowings directly attributable to acquisition or construction of

qualifying fixed assets up to the date of commissioning of the assets is

capitalized.

Special Funds

> Special funds are treated as a liability on their creation.

> Income on investments made from special funds is recognized and credited

to the 'special fund', whenever accrued. Profit/loss, if any, arising on disposal of

investments made from the 'special fund' is recognized and credited/debited

to 'special fund account'.

B',

Municipality

SCHEDULE 21B - NOTES TO ACCOUNTS

2.1 General:

The provisions of the Odisha Municipal Accounts Rules, 2012 have been

followed while preparing the accounts.

2.2 Fixed Assets:

i. The cost of the assets transferred received as a gift has

been considered as Re. 1.

ii. The Assets considered in the financials are mainly the assets

in active use provided by the Accounting Units and the

current year additions.

iii. Accumulated Depreciation has been provided on the

Opening Assets Balances.

iv. Where only the year of addition is available, addition has been

considered as being made on 1st April of that year and

appropriately depreciated.

V. The Computer Software are considered as the Intangible

Assets and amortized over 5 years.

vi. The Capitalization has been done to the extent and based on

the Work progress report received from the divisions

vii. However, Due to incomplete information regarding segregation of

roads and drains, these accounts have been prepared by combining

both roads and drains under one head like road or drain. Also due to

incomplete records with regard to concrete roads and bitumen

roads, in most of the cases these have been treated as concrete

road.

2.2.1 The accumulated depreciation is provided on assets under the straight-

line basis using the estimated life of each asset as provided under the

significant accounting principles for preparing the Balance Sheet as at 31st

March2016.

2.3 Investment:

The custody and details of investments are with the accountant of the

Baripada Municipality. The investments are in the nature of fixed

deposits held with scheduled and nationalized banks. The investments are

recorded at face value and, include the accrued interest on the fixed

J

deposits until 31st March 2016. The accrued interest until 31st March

2016 has been calculated on a pro rate basis as well as interest

statement received from bank while considering the total interest and

the total tenure of the fixed deposits. However, there is no investment

register available with the Baripada Municipality. All the investments

are in the nature of long-term investments. 2.4 Stores/Stock in Hand:

Baripada Municipality stores officials have information regarding the

stores/stock items at Baripada Municipality head quarters only. However,

they do not have information regarding the list/condition/cost/ year of

acquisition of different types of stocks/stores at kalyan mandaps,

dispensaries, municipal hospital, etc. of Baripada Municipality

2.5 Sundry Debtor (Receivables):

Receivables include dues from assesses liable to pay holding tax, light tax,

latrine tax, stallholders liable to pay market rent, and traders liable to pay

trade license fees. Details of receivables are available with the respective

section of the Baripada Municipality responsible for the management of the

revenue head, e.g., holding tax Section maintains information regarding

holding tax, light tax, and latrine tax. The dues shown in the Balance

Sheet are the balance due as at 31st March 2016. Provision for

irrecoverable dues has been created as per the norms set out in the

significant accounting principles for preparation of the Balance sheet as at

31st March 2016.

2.6 Loans and Advance:

Loans and advances include loans and advances to employees, contractors/

suppliers, and deposits with utility agencies. The details of employee

loans are available with the advance section and the establishment section

of the Baripada Municipality. All loans to employees (including house

building loans) are unsecured.

2.7 Earmarked Fund:

Earmarked funds are funds set aside to be utilized for specific purpose. The

balances shown in the Balance sheet as on 31st March 2016 represent

unutilized balances against the specific earmarked funds. The earmarked

funds are represented by matching assets held in scheduled banks. There

are no specific investments held against the unspent fund balances.

(Y' Ci,ô itte-OftIcer

2.8 Grant and Contribution for Specific Purposes:

Grants and contributions received by Baripada Municipality from any

authority for revenue maintenance and not utilized as at 31st March 2016

are shown under this head.

2.9 The Capital Expenditures incurred against Special Funds and Grants for

specific purposes has been capitalized as per the availability of utilization

certificates.

2.10 Deposits Received:

This head covers all deposits received from contractors, which comprises

earnest money deposits, initial security deposits, security deposits, and

additional performance security. Security deposits received from market

staliholders are also included under this head. All the deposits are

refundable, as and when demands are raised on the Baripada

Municipality. All deposits are non-interest bearing.

2.11 Other Liabilities:

All short-term liabilities are covered under this head. This head covers dues

to government, contractors, employees, service providers and to others.

2.12 Municipal Fund:

The Municipal fund in the Balance sheet as at 1st April 2012 was

determined as the balancing figure of all assets and liabilities on that

date. From this figure the deficit or surplus of the subsequent year is

subtracted or added to arrive at the figure of Municipal Fund as at 31st

March 2016. In the case of Baripada Municipality, the total net worth

shows a positive balance representing accumulated surplus over the past

period.

2.13 All amounts in the Financial Statements rounded off to the nearest rupee.

2.14 The previous year figures are re grouped and re casted to make it

comparable 'with the current year figure.

Exec tilve icer

J. Lenka, FCA M. Jhunjhunwala, FCA Ck J MT 4iiO(Iffll Dusmanta … · 2017-04-27 · Somanath...

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Transcript of J. Lenka, FCA M. Jhunjhunwala, FCA Ck J MT 4iiO(Iffll Dusmanta … · 2017-04-27 · Somanath...