General Account Function
Annual Statement of Accounts
General Accounts Section processes the various Annual Statement of Accounts. Section 34 (2) of the Finance and Audit Act provides that within the period of eight months after the close of each financial year, the Accountant General shall prepare, sign and transmit to the Auditor General, for the purpose of auditing, the accounts and statements specified in the Second Schedule in relation to that financial year. The accounts and statements prepared to comply with the provision of the Second Schedule of the Finance and Audit Act are summarised below:
Statement of Assets and Liabilities (Statement 1)
This is the Balance Sheet of the Government indicating its affairs on a given date. It reflects the balances of the various funds viz. Consolidated Fund, Development Fund, Special Funds and Contingencies Fund and how these are represented in assets like Cash /Bank balances and other items. This statement also reflects the revenue received and expenditure incurred, and the deficit/surplus, which is the cash result of the given period. Ince the accounts are not maintained on accrual basis, this Statement does not indicate items of fixed assets, receivables, payables, loans etc. However, with the support of other Statements included in the Annual Statement of Accounts, reader of the government accounts can very conveniently form opinion about the statement of affairs of the government. For example, Statement of Arrears of Revenue helps in assessing the receivables; Statement of Public Debt generally indicates the outstanding debt; Statement of loans made from the public revenues indicates the outstanding advances etc.
Statement of Recurrent Revenue (Statement 2)
This Statement reflects itemised recurrent revenue collected by the Ministry/Department compared to the approved estimate.
Statement of Recurrent Expenditure (Statement 3)
Statement 3 reflects Ministry/Department wise itemised recurrent expenditure incurred compared to the approved estimate and warranted provision.
Sources and Application of Development Fund (Statement 4)
This Statement indicates the sources of Development Fund i.e. foreign and domestic sources, and Ministry wise application of the Development fund.
Details of amounts credited to the Development Fund (Statement 5)
The details of fund rose for Development Fund through bilateral and multilateral grants, loans, and appropriation from the Consolidated Fund etc. are shown in this Statement.
Statement of Development Expenditure (Statement 6)
This Statement reflects itemised estimated cost of the Development expenditure for the plan period compared to the actual expenditure incurred.
Details of Development Fund by donor (Statement 7)
Donor wise analysis of the Development income vis-à-vis the Development expenditure is shown in this Statement.
Statement of Investments and Loans made from Special funds (Statement 8)
Details of investment such as bank fixed deposits, BOB certificates etc. made out of Special funds are reflected in this Statement.
Statement of Special funds (Statement 9)
This Statement reflects the summarised position of the Special funds.
Statement of Special funds - Details (Statement 10)
Statement 10 indicates the details of the Income and Expenditure account and Balance Sheet of the respective Special funds.
Statement of Public Debts (Statement 11)
Outstanding in respect of Public Debt is shown in this Statement.
Statement of unspent Development Fund (Statement 12)
This Statement indicates the details of the unspent Development Fund.
Statement of loans made by Government from Public Revenue (Statement 13)
Details of loans outstanding against the councils and parastatals are indicated in this Statement.
Statement of balances of other Deposit Accounts (Statement 14)
Contractor’s retention money deposit and other miscellaneous deposits are included in this Statement
Statement of Advance Accounts (Statement 15)
This Statement includes advances such as Industrial Class Employees advance, Surcharge, Emergency advance etc.
Statement of Cash and Bank balances (Statement 16)
Balances held in various bank accounts and in cash are reflected in this Statement.
Statement of Contingent Liabilities (Statement 17)
This Statement indicates the outstanding position of loans secured through Government guarantee.
Statement of Assets held by Government in commercial undertakings, statutory bodies etc. (Statement 18)
Shares held by Government in the commercial undertakings, statutory bodies and international organisation are shown in this Statement.
Statement of Arrears of Revenue (Statement 19)
Ministry/Department wise itemised arrears of revenue are indicated in this Statement.
Statement of Contingencies Fund (Statement 20)
This reflects appropriation to the Contingencies Fund and withdrawals from the Fund.
Tabular summary of Unallocated Stores (Statement 21)
Summarised position of opening stock balance, purchase, writes off/write on, issues and closing stock balance of the unallocated stores are shown in this Statement.
Statement of Loss of Public Monies and Stores (Statement 22)
This indicates the position of loss of monies and stores in respect of each case.