Finance Standing Committee

Standing Committee

Duties of the Finance Standing Committee

As per the Kerala Panchayat Raj Act, the Finance Standing Committee of the Gram Panchayat is a standing committee that efficiently manages the financial affairs of the Panchayat and ensures financial assistance for development activities. The main duties of the committee are given below:

1. Preparation of Annual Budget

Lead the preparation of the annual budget of the Gram Panchayat and submit it to the Panchayat Samiti.

2. Revenue Raising Measures

Take steps to increase the income of the Panchayat by collecting taxes, fees, license fees, etc. correctly.

3. Control of Expenditures

Ensure that the expenses of the Panchayat are utilized legally and economically efficiently.

4. Accounts and Audit

Examine the accounts and audit reports of the Panchayat and take necessary follow-up actions.

5. Financial Supervision of Projects

Monitor the utilization of funds allocated for development projects and welfare schemes.

6. Tax and Fee Collection

Enhance the efficiency of the collection of property tax, employment tax and license fees.

7. Bank Transactions and Deposits

Supervise the bank accounts, deposits and financial transactions of the Panchayat.

8. Financial Aids and Grants

Ensure the utilization of government grants, project funds and other financial aids.

9. Supervision of Procurement Processes

Supervise the legality of the Panchayat's procurement and tender processes.

10. Ensuring Financial Discipline

Take steps to ensure transparency and accountability in financial transactions.

11. Collection of Dues

Take steps to collect taxes and other dues due to the Panchayat.

12. Preparation of Financial Reports

Prepare income and expenditure accounts and financial review reports and submit them to the Panchayat Samiti.

Duties of the Finance Standing Committee

As per the Kerala Panchayat Raj Act, the Finance Standing Committee of the Gram Panchayat is a standing committee that controls the financial affairs of the Panchayat and ensures efficient use of funds. The main duties are as follows:

  1. Prepare the annual budget of the Panchayat.
  2. Examine and control the income and expenditure of the Panchayat.
  3. Ensure the collection of taxes, fees and license fees.
  4. Examine the accounts and financial records of the Panchayat.
  5. Examine audit reports and take necessary action.
  6. Monitor the utilization of funds for development projects.
  7. Ensure that government grants and financial assistance are utilized properly.
  8. Supervise the bank accounts and financial transactions of the Panchayat.
  9. Ensure that the procurement and tender processes are carried out in accordance with the law.
  10. Take steps to collect the arrears of taxes and other dues of the Panchayat.
  11. Ensure transparency and financial discipline in financial transactions.
  12. Prepare income and expenditure reports and submit them to the Panchayat Samiti.