Section 3 in The M.P. Housing Board Accounts Rules, 1991
3. Accounting Centres.
- The following shall be the accounting centres in the Board :-(i)Division(ii)Estate Management (Where it is in charge of an officer who does not report to the Divisional Officer),(iii)Factory(iv)Circle (Including the charge of Account Officer, head office who is equated with a Circle Officer).(v)F.A. and C.A O.3.1Accounts of Field Officers. - 3.1.1 Division, Estate Management Officers and Factories shall maintain detailed accounts of financial transactions and render accounts on prescribed dates (accounts period not being in excess of one month) to the Circle Officer accompanied by vouchers, extracts of cash book, journal and the prescribed schedules (see book of formats).3.1.2. In addition, they may be required to submit classified summaries of transaction for a part of the account month as a pre-requisite for obtaining funds for further expenditure.3.2Circle Accounts. - 3.2.1 The provisions of Rule (3.1) shall apply mutatis mutandis in respect of receipts and payments relating to the headquarters office of the Circle. In respect of transactions reported to it by the Divisions and Estate Management offices through the summaries referred to in Rule 3.1.2, the Circle Officer shall maintain accounts under the various account heads (major, minor sub and detailed heads of account) posting in his ledgers only summaries without voucher-wise details. Separate sets of ledgers (main and subsidiary) shall be maintained in the Circle Office for each of the subordinate accounting centres.3.2.2Transactions relating to factories shall be accounted for by the Circle Officer in his accounts under a distinct major head "Investments in Board's Factories. A separate account shall be maintained for each factory, while the officer incharge of the factory shall submit the classified summary referred to in Rule 3.1.2, the Circle Officer need post his accounts only in main ledger. Subsidiary ledgers shall be maintained only in factories.3.2.3The Circle Officer shall prepare a Circle Account from the ledger accounts observing the procedure laid down in Section 2. These accounts shall be proved by agreement with the monthly accounts of subordinate accounting centres referred to in Rule 3.1.1, and submitted to the F.A. and C.A.O accompanied by the prescribed schedules. Vouchers shall be retained in the Circle Office and made available to audit.3.2.4In addition, Circle Officer shall prepare at the end of each financial year final accounts of the Circle to disclose the financial results of its working. For this purpose overhead expenses incurred at Head Office but allocated to various projects for capitalisation shall be brought to account in the Circle Account on proforma basis debiting "Allocated Circle Share of Overheads" per contra credit to "Adjustment Account (Financial Accounts)". The F.A. and C.A.O shall drop the balances in this account proforma after effecting aggregate of this debits referred to above for all Circles and the actual expenditure on overheads appearing in his books.3.3Board's Accounts. - 3.3.1 The F.A. and C.A.O shall have ledgers containing accounts corresponding to the account heads as per Chart of Accounts. Transactions relating to all accounting centres shall be collected account head-wise and proved by agreement with the aggregate of the balances brought out in Circle Accounts.3.3.2Detailed account of the following transaction shall be maintained in Head Office.Accounts of Accounts Officer (Headquarters) Circle(i)Loans to the Board(ii)Loans by the Board to the public(iii)Investments(iv)Reserve Funds and sinking funds(v)Grants-in-aid and Subsidies from GovernmentAccounts of F.A. and C.A.O.(i)Provident fund(ii)Long Term Loans and Advances to staff of the Board(iii)Cash-in-Transit(iv)Stock transfers from factories to Divisions(v)Inter-circle transfers of balances (decentralised accounts)(vi)Memorandum Account of loss or gain on overheads.3.3.3The F.A. and C.A.O. shall consolidate the accounts of the various circles and prepare the Board's accounts (i.e. monthly accounts and final accounts). In respect of Board's factories, the net financial effect of the transactions shall be incorporated in the final accounts and a separate set of final accounts shall be prepared for each factory.3.4Period of Accounts. - 3.4.1 Monthly accounts of various accounts shall be made up for calendar months.3.4.2At the end of the financial year accounts shall be kept open for such period as may be prescribed by the Housing Commissioner to carry out book adjustments for the purpose of preparing final accounts and also to rectify errors in accounts, if any.Section 4Functional Environment to Accounting System
