Annual Financial Statement 2023-2024
Summary
1. Executive Summary
Engandiyur Grama Panchayat concluded the 2023–2024 financial year with a Gross Surplus of ₹197,048.00 after accounting for prior period items. The panchayat maintains a balanced budget with a total balance sheet sizing of ₹70,302,012.00. It features robust spending heavily directed toward decentralised plan programming and public service infrastructure.
2. Balance Sheet Overview (As of 31-03-2024)
The Panchayat’s total liabilities matched its total assets at ₹70,302,012.00.
Liabilities & Funds
Reserves: The largest holding sits in Reserves at ₹35,666,424.00, completely made up of Capital Contributions (e.g., MGNREGS, Development Funds, and Joint Venture projects).
Grants & Specific Funds: Specific-purpose grants and contributions total ₹25,673,047.50, predominantly fueled by Central Finance Commission Basic Tax and Tied Grants.
Panchayat General Fund: Sits at ₹3,121,299.50, which incorporates the yearly excess of income over expenditure.
Deposits & Other Liabilities: Holds ₹2,660,231.00 in deposits received (largely road cutting deposits) and ₹2,881,916.00 in other liabilities.
Secured Loans: Total a minor ₹271,260.00 borrowed from HUDCO.
Assets & Capital Outlay
Capital Expenses (Annual Plan): The panchayat has aggressively converted capital into regional infrastructure:
Infrastructure Sector: ₹43,736,284.00 (Primarily tarred roads, culverts, and building additions).
Service Sector: ₹12,517,901.00 (Housing land directly purchased by LSGI, waste processing plants, and public crematoriums).
Productive Sector: ₹481,815.00 (Storage/public industrial facilities).
Capital Work-in-Progress: ₹4,192,526.00.
Accumulated Depreciation: Stands at -₹28,650,809.00, reducing net book value.
Cash and Bank Balance: Highly liquid with ₹25,545,306.00 held across bank accounts.
Sundry Debtors & Advances: Receivables stand at ₹8,255,112.00 (mostly property tax arrears/current and redemption receivables), with loans and advances at ₹4,120,327.00.
3. Income & Expenditure Summary
Total Revenue Generated (A): ₹143,271,903.00
Total Expenses Incurred (B): ₹142,874,020.00
Net Balance/Surplus: ₹197,048.00 (Carried over to the Balance Sheet).
Key Revenue Sources
Revenue Grants & Contributions: The primary lifeline, bringing in ₹131,666,566.00. Major drivers include MGNREGS (₹20.15M), National Old Age Pensions (₹23.47M), and Development Funds (₹17.08M General / ₹17.07M Special Component).
Tax Revenue: Collected ₹7,939,243.00, derived from Residential Property Tax (₹2.61M), Non-Residential Property Tax (₹3.41M), and Employee/Trader Profession Tax.
Fees & User Charges: Generated ₹3,103,641.00, heavily weighted by building construction permit fees (₹1.34M) and building regularisation fees (₹0.63M).
Key Expenditure Drivers
Decentralised Plan Programmes (Service Sector): The massive core expense of ₹49,749,743.00. Substantial funds went to individual house construction (₹7.84M) and self-construction housing schemes (₹22.71M).
Transferred Institutions & State Schemes: Disbursed ₹42,864,400.00, almost entirely funding social welfare schemes like Old Age, Widow, and Agricultural worker pensions.
Total Poverty Alleviation: Utilised ₹19,085,964.00.
Establishment Expenses: Cost ₹14,467,937.00, prioritizing permanent staff salaries (₹7.36M) and elected member/presidential honorariums/sitting fees.
Operations & Maintenance: Spent ₹3,982,231.00, dominated by KWA street tap water charges (₹2.01M) and street light electricity charges (₹1.02M).
4. Cash Flow Statement Analysis
Opening Liquid Cash/Bank Balance: Started at ₹23,709,776.00.
Net Cash Used in Operating Activities: -₹7,300,823.00. (While operational revenues were high, heavy distributions toward decentralized planning and statutory receivables outpaced pure operating liquid cash inflows).
Net Cash Generated from Investing Activities: ₹7,567,219.00, mostly buffered via specific purpose grants and reserve inflows.
Net Cash Used in Financing Activities: Outflow of ₹1,215,306.00.
Closing Cash Position: Despite heavy investment outlays, the net liquid change grew by ₹1,835,530.00, leaving the panchayat in a solid liquidity state of ₹25,545,306.00 by close of year