Annual Financial Statement 2023-24
Summary of the Financial Report of Pampady Grama Panchayat for the Financial Year 2023–2024
The following is a summary of the financial position and expenditure of Pampady Grama Panchayat for the financial year from 01 April 2023 to 31 March 2024.
1. Income and Expenditure Statement
During the financial year, the Panchayat's total income was higher than its total expenditure.
- Total Income: ₹15,64,85,733.00 (approximately ₹15.65 crore)
- Total Expenditure: ₹14,95,04,098.00 (approximately ₹14.95 crore)
- Gross Surplus: ₹69,81,635.00
- Net Surplus after Prior Period Items: ₹70,94,191.00
2. Key Revenue Sources
A major portion of the Panchayat's revenue was received through various government grants and contributions.
- Revenue Grants and Contributions: ₹13,36,88,891.00
This includes approximately ₹3.67 crore under the National Old Age Pension and ₹1.64 crore under the MGNREGS. - Tax Revenue: ₹1,25,63,248.00
Mainly collected through property tax and profession tax. - Fees and User Charges: ₹53,91,432.00
Including building permit fees and other user charges. - Rental Income from Panchayat-Owned Buildings: ₹35,61,721.00
3. Major Expenditures
Significant amounts were spent on various development sectors, welfare programmes and pension distribution.
- Expenditure on Transferred Institutions and State Schemes: ₹5,46,43,400.00
This includes various social security pension schemes.
Decentralised Planning Programme
- Service Sector: ₹3,28,55,498.00
This includes approximately ₹1.26 crore spent on house construction through the LIFE Mission. - Productive Sector: ₹7,65,67,74.00
Focused mainly on dairy development, agriculture and related activities. - Infrastructure Sector: ₹1,32,29,078.00
Mainly for road concreting, street lighting and related infrastructure. - Total Poverty Alleviation: ₹1,58,88,403.00
Other major expenditures include:
- Establishment Expenses: ₹1,63,03,610.00
Including salaries and employee benefits. - Operations and Maintenance: ₹30,80,526.00
Including office operations and maintenance activities.
4. Balance Sheet Summary as on 31 March 2024
The total assets and liabilities of the Panchayat were balanced at ₹15,97,59,823.00 (approximately ₹15.97 crore).
Major Liabilities and Funds
- Panchayat Fund: ₹6,98,76,547.00
- Reserves: ₹5,34,94,874.00
- Grants/Funds for Specific Purposes: ₹1,40,61,441.00
- Deposits Received: ₹1,20,52,758.00
- Secured Loans – KURDFC: ₹70,73,608.00
Major Assets
- Cash and Bank Balance: ₹7,27,67,826.00
This represents funds held in the Panchayat's own fund and various local bank accounts.
Annual Plan – Capital Expenditure
- Infrastructure Sector: ₹5,43,97,104.00
Including office buildings, roads and street lighting. - Service Sector: ₹1,47,08,017.00
Including drinking water projects and computers. - Productive Sector: ₹26,26,569.00
Including irrigation and agricultural equipment.
Other assets include:
- Loans, Advances and Deposits: ₹1,79,37,109.00
Including advances provided to agencies such as KSEB and KWA. - Sundry Debtors: ₹82,56,169.00
- Fixed Assets: ₹10,42,527.00
- Accumulated Depreciation: -₹2,48,65,618.00
5. Receipt and Payment Report
- Opening Balance as on 01 April 2023: ₹6,36,66,148.00
- Total Receipts during the Year: ₹12,14,32,993.00
- Total Payments during the Year: ₹4,86,65,167.00 (as calculated in the report)
- Closing Balance as on 31 March 2024: ₹7,27,67,826.00
Conclusion
During the 2023–2024 financial year, Pampady Grama Panchayat maintained a strong financial position and recorded a significant surplus. The available funds were utilised for various public welfare and development activities, particularly housing through the LIFE Mission, social security pensions, drinking water projects, road development, agriculture and dairy development.
The Panchayat also succeeded in maintaining a substantial closing cash and bank balance of ₹7,27,67,826.00 at the end of the financial year, indicating a stable financial position.