1508. Budgetary Control over expenditure on Acquisition, Construction and Replacement of Railway Assets.- In the case of works chargeable to Capital, Depreciation Reserve Fund, Development Fund, Accident Compensation Safety and Passenger Amenities Fund and Open Line Works Revenue, Railway Administrations are required to exercise budgetary control not only under each sub-head of grant. but also against the allotment sanctioned for the year for each work costing over Rs. 50,000 each. For this purpose the financial reporting system provides for the preparation of two review statements by the Accounts Officers every month (i) by sub-head of grant in Form 525-F and (ii) by individual work in Form 526-F These reviews are furnished to the authorities concerned by the Accounts Officer by such dates as may be fixed in consultation with them (c.f.519-F).
1516. Method of exercising control over expenditure.-The control over expenditure on railways is exercised through
(i) The preparation in advance of estimates of the expenditure;
(ii) The allotment of funds through budget grants for the year on the basis of these estimates; and
(iii) The continuous and concurrent review of the expenditure as incurred against the details of the estimates and against the sanctioned grants, so that revisions of estimates or reappro- priation of funds are arranged for at the earliest possible point of time.
No comments:
Post a Comment