Parliamentary Financial Control - Appropriation Accounts
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Questions and Answers

What should be included in the remarks column of Form No.F. 445?

  • List of all unsanctioned expenditures
  • Reasons for delays in regularizing items with proper sanctions (correct)
  • Details of approved estimates only
  • Summary of expenditures from previous years

    • Which statement is true regarding estimates provisionally accepted by Accounts or Audit?

  • They should be deemed unsanctioned expenditure
  • They do not need to be recorded in any register
  • They remain under objection until allocation is finalized (correct)
  • They require no justification in the remarks column

    • How should amounts be exhibited in Form No.F. 445?

  • In units of euros
  • In units of dollars
  • In units of kilograms
  • In units of rupees (correct)

    • What is required from every General Manager regarding Appropriation Accounts of Civil Grants?

    <p>Advance copies in a specific form by appointed dates</p> Signup and view all the answers

    What should not be included in Annexure A and A (i) to the Appropriation Accounts?

    <p>Unsanctioned expenditures</p> Signup and view all the answers

    What is the monetary threshold for explaining savings in the Revenue Segment?

    <p>All savings exceeding Rs. 500 lakhs</p> Signup and view all the answers

    Which condition requires an explanation for excess in the Revenue Segment?

    <p>Excess exceeds 10% of sanctioned provision or Rs. 250 lakhs, whichever is higher</p> Signup and view all the answers

    What is the requirement for explaining savings related to supplementary grants in the Revenue Segment?

    <p>Savings must exceed 10% of the supplementary grants or Rs. 100 lakhs, whichever is higher</p> Signup and view all the answers

    What is required when an entire supplementary grant remains unutilized in the Capital Segment?

    <p>An explanation must include specific works under which it occurred</p> Signup and view all the answers

    What constitutes a condition for explaining variations in the Capital Segment?

    <p>Variations exceeding Rs. 500 lakhs irrespective of percentage</p> Signup and view all the answers

    When should suitable explanations be provided for expenditures booked under a different Minor Head?

    <p>Whenever the provision was sanctioned differently</p> Signup and view all the answers

    Why should vague explanations like 'due to over estimates' be avoided?

    <p>They are irrelevant and do not provide clarity</p> Signup and view all the answers

    What type of credits should be included in the miscellaneous nature category?

    <p>Deficiencies in the rates of manufactured articles</p> Signup and view all the answers

    How should the adjustment in the clearance of items from the Stock Adjustment Account be recorded?

    <p>As minus entries only</p> Signup and view all the answers

    What should be reconciled with the figures of debits and credits in the General Books?

    <p>Total Debits and Total Credits in the Stores Account</p> Signup and view all the answers

    What is the recommended format for the statement of stock verification results?

    <p>The format given at Annexure XII</p> Signup and view all the answers

    Why should footnotes be included when reconciling figures of losses in the Stores Account?

    <p>To explain discrepancies from adjustments</p> Signup and view all the answers

    Which category should depreciation and shortage losses be reconciled with in the Stock Adjustment Account?

    <p>Deficiencies shown under 'Depreciation, shortage, etc.'</p> Signup and view all the answers

    What is NOT included in the miscellaneous nature credits?

    <p>Depreciation of stores</p> Signup and view all the answers

    What should be used when exhibiting figures in the Summary of Accounts by the Railways?

    <p>Form No. 403</p> Signup and view all the answers

    What represents 'Other debits' in the Stores Account?

    <p>Excess in the rate of articles manufactured for stock purposes</p> Signup and view all the answers

    What should be adjusted as a minus entry in the Stock Adjustment Account?

    <p>Resultant debits and credits</p> Signup and view all the answers

    What should be explained if re-appropriations were made unnecessarily?

    <p>Reasons for not passing a re-appropriation order</p> Signup and view all the answers

    What distinguishes savings due to abandonment of schemes from other types of savings?

    <p>The intent behind the funding reallocation</p> Signup and view all the answers

    Where should credits or recoveries be recorded in the financial statements?

    <p>Separately as 'Credits or Recoveries'</p> Signup and view all the answers

    On completing a special scheme, what should be noted regarding its assets and liabilities?

    <p>Remarks on unadjusted assets and liabilities</p> Signup and view all the answers

    If a service for which budget provision was made is abandoned, what must be noted?

    <p>The reallocation of funds for unbudgeted expenditures</p> Signup and view all the answers

    How should recoveries under 'Charged' items be reported?

    <p>Seperately from 'Voted' items</p> Signup and view all the answers

    What must be indicated regarding important items of credits under each Minor Head?

    <p>Nature of the items briefly</p> Signup and view all the answers

    What should be included in the financial documentation post scheme completion?

    <p>Intended disposal of acquired property</p> Signup and view all the answers

    What is specifically excluded from the scope of Demands as stated?

    <p>Figures of 'Credits or Recoveries'</p> Signup and view all the answers

    What is the purpose of the Statement of Annual Expenditure?

    <p>To reconcile figures in the Account Current with those in the Appropriation Accounts.</p> Signup and view all the answers

    Which two forms of expenditure are distinguished in the accounts?

    <p>Charged and Voted</p> Signup and view all the answers

    What must accompany the certificate of sanctioned expenditure submitted to the Railway Board?

    <p>A statement of unsanctioned expenditure.</p> Signup and view all the answers

    How should objectionable expenditure items be classified, according to the instructions?

    <p>As Rs. 1,00,000/- and less than Rs. 1,00,000/- based on total objection amounts.</p> Signup and view all the answers

    What is a key feature of the Final Grant or Appropriation figures?

    <p>They reflect combined amounts of voted and charged expenditures.</p> Signup and view all the answers

    What is the consequence of excluding items from the statement prepared for the Railway Board?

    <p>It may lead to financial mismanagement.</p> Signup and view all the answers

    In Form 441, what does the column for 'Figures as per Appropriation Account' detail?

    <p>Actual expenses compared to budgeted amounts.</p> Signup and view all the answers

    What is the required action for all expenditures included in the Appropriation Accounts?

    <p>Sanction from competent authority.</p> Signup and view all the answers

    What does the Gross Expenditure category encompass?

    <p>All actual spending without considering recoveries.</p> Signup and view all the answers

    What is primarily assessed through the figures in the Appropriation Account?

    <p>Compliance with budgetary appropriations.</p> Signup and view all the answers

    Who is responsible for signing the Appropriation Accounts?

    <p>The Chairman &amp; Chief Executive Officer and the Member Finance</p> Signup and view all the answers

    What is the primary purpose of the Appropriation Accounts?

    <p>To compare actual expenditure with grants voted by Parliament</p> Signup and view all the answers

    What must accompany the Appropriation Accounts submitted by the General Manager?

    <p>A copy sent to the Audit Officer for certification</p> Signup and view all the answers

    Which financial figure is NOT reported in Form No. F. 403?

    <p>Projected Changes</p> Signup and view all the answers

    In which scenario does the General Manager need to provide explanations regarding the appropriations?

    <p>When actual expenditure exceeds the Final Grant</p> Signup and view all the answers

    Who is entrusted with the duty of reporting on the Appropriation Accounts?

    <p>The Director of Railway Audit</p> Signup and view all the answers

    What is the designation of the officer that signs the Appropriation Accounts as Secretary to the Government of India?

    <p>Member Finance of the Railway Board</p> Signup and view all the answers

    What should be considered when encountering objections amounting to Rs. 1,00,000 each in relation to works?

    <p>They require a detailed explanation.</p> Signup and view all the answers

    What is the significance of including remarks in Form No. F. 445 regarding projects?

    <p>They provide clarity on the delay in regularizing expenditures.</p> Signup and view all the answers

    How should expenditures booked under different Minor Heads be handled?

    <p>They must be reconciled annually.</p> Signup and view all the answers

    Concerning unutilized supplementary grants in the Capital Segment, which action is necessitated?

    <p>A thorough explanation is required.</p> Signup and view all the answers

    What characterizes the amounts listed in the objections for expenditures less than Rs. 1,00,000?

    <p>They must be explained but not detailed.</p> Signup and view all the answers

    What should be done if an order of re-appropriation is not passed by the competent authority despite having savings?

    <p>An explanation should be provided for the failure.</p> Signup and view all the answers

    How should savings from postponement of expenditure be classified?

    <p>As separate from those due to scheme abandonment.</p> Signup and view all the answers

    Where should the figures of credits or recoveries be displayed in the financial records?

    <p>Under a separate head at the end of the account.</p> Signup and view all the answers

    What should be included in remarks regarding unadjusted assets and liabilities after completing a special scheme?

    <p>Details of disposal or losses incurred.</p> Signup and view all the answers

    What is required if a service for which budget provision was made is intentionally abandoned?

    <p>A mention of the abandonment to direct funding elsewhere.</p> Signup and view all the answers

    What distinguishes recoveries under 'Charged' items from those under 'Voted' items?

    <p>They need to be shown separately.</p> Signup and view all the answers

    Why should explanations for variations between anticipated and actual credits not be furnished?

    <p>Variations are expected and understood.</p> Signup and view all the answers

    What needs to be clarified if there were unnecessary re-appropriations?

    <p>Reasons for making these re-appropriations should be explained.</p> Signup and view all the answers

    What should be noted regarding any deficiencies or losses incurred from special schemes?

    <p>They should be specifically documented and noted.</p> Signup and view all the answers

    Which statement best describes the purpose of Annexure D?

    <p>It outlines expenditure on important open line works and new constructions.</p> Signup and view all the answers

    What type of information is included in the Statement of Unsanctioned Expenditure?

    <p>Expenditures not approved by the sanctioning authority.</p> Signup and view all the answers

    Which annexure serves to report on losses exceeding a certain threshold?

    <p>Annexure XXII</p> Signup and view all the answers

    What does the Statement showing Percentage of Working Expenses to Earnings aim to illustrate?

    <p>The proportion of operational costs relative to income generated.</p> Signup and view all the answers

    Which statement correctly identifies what is documented in the Statement of Defects in Budgeting?

    <p>Shortfalls in the execution of the approved budget.</p> Signup and view all the answers

    Which annexure focuses on adjustments relating to claims on revenue?

    <p>Annexure XVIII</p> Signup and view all the answers

    The Statement of Capital Fund Account is primarily designated for whom?

    <p>Production units under the jurisdiction of the Railway Board.</p> Signup and view all the answers

    Which is true about the Statement showing Stores Account?

    <p>It records the details of inventory and its financial management.</p> Signup and view all the answers

    What major component does the Statement of Railway Safety Fund Account serve to show?

    <p>Allocations and expenditures regarding safety measures.</p> Signup and view all the answers

    Which statement best describes the intent of the Profit and Loss Account of Catering?

    <p>To analyze the profitability of catering operations.</p> Signup and view all the answers

    Which of the following statements accurately describes how excess manufactured articles are presented in the Stores Account?

    <p>They must appear on the receipt side of the Stores Account under Other debits.</p> Signup and view all the answers

    What is the correct method for clearing items from the Stock Adjustment Account?

    <p>Adjusting with minus entries for both debits and credits.</p> Signup and view all the answers

    How should the discrepancies in Total Debits and Total Credits of the Stores Account be addressed?

    <p>Detailed footnotes should clarify the discrepancies.</p> Signup and view all the answers

    What must be included in the summary of Appropriation Accounts as compiled by Railways?

    <p>Figures should match those in Form No. 403.</p> Signup and view all the answers

    What type of information should foot-notes provide concerning losses in the Stores Account?

    <p>They must reconcile losses with the figures shown in the Stock Adjustment Account.</p> Signup and view all the answers

    Which of the following best describes the items represented under the 'Deficiencies' column in the Stock Adjustment Account?

    <p>They are classified as losses due to unaccounted shortages and damages.</p> Signup and view all the answers

    What is the intention behind the instructions for documenting losses as minus receipts in the Stores Account?

    <p>To ensure clarity and proper representation of actual financial status.</p> Signup and view all the answers

    For what purpose should the results of stock verification and revaluation of stores be prepared?

    <p>To facilitate external audits and evaluations.</p> Signup and view all the answers

    How is the treatment of deficiencies in manufactured articles classified?

    <p>As miscellaneous loss categories in financial reports.</p> Signup and view all the answers

    Study Notes

    Parliamentary Financial Control - Appropriation Accounts

    • Parliamentary Financial Control is a management tool, securing prior approval for all expenditure
    • Appropriation Accounts compare actual expenditure to Parliament's approved grants
    • The accounts are signed by the Chairman and Chief Executive Officer of the Railway Board, and the Ministry of Railways' Member Finance
    • The Director of Railway Audit is responsible for reporting on these accounts
    • Railway managers submit Appropriation Accounts to the Railway Board, checked and certified by Audit officers

    Form of Accounts and Submission Dates

    • Railway boards are responsible for producing Appropriation Accounts in Form F.403
    • The accounts are submitted to the Railway Board annually
    • Completion of an audit should be on the date agreed with the additional Deputy Comptroller

    Annexures

    • Various annexures provide supporting documents for these accounts (e.g., formulae, statements, etc.)
    • These annexures might include details on Capital Statements, Balance Sheets, Profit & Loss accounts, and other relevant financial details for different railway units.

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    Description

    This quiz explores the concept of Parliamentary Financial Control with a focus on Appropriation Accounts. It examines the processes involved in securing approval for expenditures and compares actual spending to approved funds. Key responsibilities and submission guidelines for Railway Boards are also highlighted.

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