AFS 2022-2023 Report
THALAYAZHAM GRAMA PANCHAYAT
INCOME–EXPENDITURE REVIEW REPORT – 2022-23
Introduction
This report presents a review of the financial activities of Thalayazham Grama Panchayat for the period from 1 April 2022 to 31 March 2023. The report has been prepared based on the information and financial figures contained in the Panchayat’s Income & Expenditure Statement, Receipt & Payment Report, Cash Flow Statement, Balance Sheet, and Trial Balance.
1. Review of Income
During the financial year 2022-23, the total income of the Panchayat was ₹16,80,82,098. This primarily includes tax revenue, rent from Panchayat properties, various fees and user charges, sales/hire charges, government grants, various plan funds, and interest income.
Under tax revenue, Property Tax from Residential Buildings amounted to ₹18,72,204, Property Tax from Non-Residential Buildings amounted to ₹10,32,079, Profession Tax from employees amounted to ₹6,63,170, Profession Tax from institutions amounted to ₹51,150, and Profession Tax from traders amounted to ₹88,350.
Rent received from Panchayat properties amounted to ₹3,39,950, while various fees and user charges amounted to ₹3,86,381.
2. Government Grants and Plan Funds
Government grants and various plan funds played a significant role in the financial activities of the Panchayat. An amount of ₹16,33,74,643 was recorded under Revenue Grants, Contributions & Compensation. The major components include:
- Development Fund – General – ₹1,61,14,394
- Development Fund – Special Component Plan – ₹45,97,889
- Central Finance Commission Basic Grant – ₹4,27,452
- Central Finance Commission Performance Grant – ₹3,83,073
- Central Finance Commission Tied Fund – ₹14,64,954
- Road Assets Maintenance Fund – ₹58,10,578
- Non-Road Assets Maintenance Fund – ₹34,12,976
- General Purpose Fund – ₹1,00,87,000
- MGNREGS – ₹7,22,73,155
In addition, significant amounts were recorded for various social security pensions and other welfare schemes. The major amounts include National Old Age Pension – ₹1,99,49,000, Agricultural Workers Pension – ₹1,16,05,200, Widow/Destitute Pension – ₹60,79,400, Differently Abled Pension – ₹31,10,800, and Pension for Unmarried Women above 50 years – ₹4,91,200.
3. Review of Expenditure
During the financial year 2022-23, the total expenditure of the Panchayat was ₹17,26,77,872. Since expenditure exceeded income, a deficit of ₹62,19,913 was recorded in the Income & Expenditure Statement after considering the Prior Period Items.
The major expenditure heads are as follows:
- Establishment Expenses – ₹1,12,47,815
- Administrative Expenses – ₹8,03,816
- Operations & Maintenance – ₹15,59,148
- Productive Sector Projects – ₹55,41,480
- Service Sector Projects – ₹2,44,88,918
- Infrastructure Sector Projects – ₹98,10,358
- Projects not included under Sector Division – ₹7,08,98,517
- Transferred Institutions & State Sponsored Schemes – ₹4,16,45,600
- Other Revenue Grants and Funds – ₹13,73,738
- Depreciation – ₹53,07,745
4. Financial Assistance in Agriculture, Health, Sanitation and Other Sectors
The financial records for 2022-23 include funds and projects related to various sectors such as agricultural development, health, sanitation, drinking water, and social welfare.
Under grants for specific purposes, the Receipt & Payment records show amounts such as MGNREGS – ₹13,83,007, National Health Mission – ₹9,50,000, Total Sanitation Campaign – ₹16,40,000, Central Finance Commission Tied Fund – ₹42,39,000, Integrated Child Development Scheme – ₹5,78,990, and various Health Grants.
5. Receipt & Payment Position
At the beginning of the financial year 2022-23, the Panchayat had a Cash and Bank Balance of ₹1,10,39,360. At the end of the financial year, the balance increased to ₹1,44,11,280. Thus, the Cash and Bank Balance increased by ₹33,71,920 compared to the opening balance.
As per the Cash Flow Statement, the opening Cash and Cash Equivalents for the financial year stood at ₹1,10,39,360, while the closing balance was ₹1,44,11,280. The net increase in Cash and Cash Equivalents was ₹33,71,920.
6. Receivables
The Receipt & Payment records show an amount of ₹1,23,21,066 under the Sundry Debtors/Receivables category. This includes various amounts receivable under items such as property tax, profession tax, licence fees, building rent, and other revenue heads.
As per the Balance Sheet, as on 31 March 2023, Sundry Debtors (Receivables) amounted to ₹86,64,888, Pre-paid Expenses amounted to ₹1,30,90,482, Loans, Advances and Deposits amounted to ₹89,28,865, and Cash and Bank Balance amounted to ₹1,44,11,280.
7. Assets and Liabilities
As per the Balance Sheet as on 31 March 2023, the total balance of the Panchayat was ₹7,57,92,323. The major liability/fund components include Panchayat General Fund – ₹7,53,923, Earmarked Funds – ₹22,192, Reserves – ₹4,93,75,208, and Grants/Funds/Contributions for Specific Purposes – ₹1,05,92,980.
Under Secured Loan – KURDFC, an amount of ₹1,35,84,092 was recorded. Deposits Received amounted to ₹5,91,393, while Other Liabilities amounted to ₹8,72,535.
Under the assets category, Annual Plan Capital Expenditure – Infrastructure Sector amounted to ₹5,41,70,837, Service Sector amounted to ₹44,42,495, and Productive Sector amounted to ₹6,79,847. The Accumulated Depreciation amounted to ₹2,90,41,575.
8. General Assessment of the Financial Position
According to the financial records for 2022-23, government grants and various plan funds were major financial resources for the Panchayat’s activities. Significant amounts were received through the Development Fund, Finance Commission Grants, Maintenance Funds, MGNREGS, and various social welfare schemes.
At the same time, according to the Income & Expenditure Statement, the total income was ₹16.81 crore, while the total expenditure was ₹17.27 crore. After considering the Prior Period Items, a deficit of ₹62.20 lakh was recorded.
Conclusion
The financial records indicate that during the financial year 2022-23, Thalayazham Grama Panchayat utilized the available funds for various development, service, infrastructure, health, sanitation, and social welfare programmes. During the financial year, with total income of ₹16.81 crore and total expenditure of ₹17.27 crore, various government grants and plan funds constituted a major financial foundation for the activities of the Panchayat.
The Cash Flow Statement shows that the Cash and Bank Balance increased from ₹1.10 crore at the beginning of the financial year to ₹1.44 crore at the end of the year. At the same time, the Balance Sheet indicates that the Panchayat had various assets, funds, loans, and receivables as on 31 March 2023.
