Budget - 2018-19
Akalakunnam Grama Panchayat Budget Report (2018-2019)
1. Opening Balance
At the beginning of the financial year 2016-2017 (i.e., as per the balance sheet of 2015-2016), the total opening balance of the Panchayat was ₹11,481,315.00. The major components of this are as follows:
- Cash & Bank Balances: ₹8,367,987.00
- Sundry Debtors (Amounts to be collected): ₹2,951,380.00
- Investments - General Fund: ₹1,378,504.00
- Grants for Specific Purposes: ₹563,301.00
2. Plan Outlay & Expected Receipts
For the financial year 2018-2019, the total amount expected by the Panchayat for various projects is ₹34,508,000.00.
Major Revenue Sources:
- Development Fund: ₹32,508,000.00
- General Development Fund (Capital): ₹13,518,000.00
- Maintenance Fund (Road): ₹7,147,000.00
- Central Finance Commission Grant (CFC Grant): ₹6,274,000.00
- Maintenance Fund (Non-Road): ₹2,986,000.00
- Special Component Plan (SCP - Capital): ₹2,392,000.00
- Tribal Sub-Plan (TSP - Capital): ₹191,000.00
- Centrally Sponsored Schemes (NREGA): ₹2,000,000.00
3. Tax & Non-Tax Revenue Estimates
A decline has been recorded in the Panchayat's own tax revenue compared to previous years.
| Account Head | 2016-2017 (Actual) | 2017-2018 (Revised Budget) | 2018-2019 (Expected Budget) |
|---|---|---|---|
| Property Tax | ₹3,038,983 | ₹3,000,000 | ₹2,500,000 |
| Profession Tax | ₹1,166,890 | ₹1,200,000 | ₹1,200,000 |
| Total Tax Revenue | ₹4,205,873 | ₹4,200,000 | ₹3,700,000 |
| Rent from Land & Buildings | ₹117,828 | ₹200,000 | ₹200,000 |
Note: In another supplementary calculation, own revenue recommendations totaling ₹5,353,999 have been recorded, which includes ₹4,879,563 as property tax and ₹458,796 as advertisement tax.
4. Expenditure Allocation
Out of the available resources, the allocation for revenue expenditure and capital expenditure has been divided as follows:
- Total Plan Revenue Expenditure: ₹29,324,000.00
- Out of this, ₹27,324,000.00 from the Development Fund and ₹2,000,000.00 from the Centrally Sponsored Scheme are set aside for revenue requirements.
- Total Capital (Plan) Expenditure: ₹5,184,000.00
- This entire amount is allocated for capital expenditure from the Development Fund.
5. Major Observations
- Priority for Asset Maintenance: A large sum (₹71.47 lakhs) has been set aside for the maintenance of roads, which clearly highlights the importance the Panchayat places on infrastructure development.
- Predominance of Revenue Expenditure: The majority of available resources (approximately 85%) is allocated for revenue expenditure; the allocation for the creation of capital assets is relatively low.
- Decline in Own Revenue: The targeted amount for property tax in the budget is lower compared to previous years (reduced from ₹30 lakhs to ₹25 lakhs). To resolve this, tax collection needs to be intensified.
Conclusion
The 2018-19 budget of Akalakunnam Grama Panchayat is primarily dependent on government grants and development funds. Adequate funds have been allocated in the budget for the day-to-day operations of the Panchayat and the maintenance of its assets.