Section 32 in West Bengal Agricultural Produce Marketing (Regulation) Rules, 1982
32. Accounts
. (1) The accounts of the market committee shall be kept on the double entry book keeping system and maintained in such manner as the Board may direct.(2)Unless otherwise directed by the Board, the market committee shall maintain the following books of accounts and subsidiary financial registers, viz.,(i)Cash Book(ii)Journal(iii)General Ledger(iv)Individual Ledger(v)Licence Fee Register(vi)Market Fee Register(vii)Toll Collection Register(viii)Register of Bills Receivable(ix)Register of Bills Payable(x)Register of Security Deposits(xi)Register for Forms, and Account Books(xii)Stationery Register(xiii)Register for Dead Stock(xiv)Property Register(xv)Register for Loans and Advances, and(xvi)Register for Subsidies and Grants.(3)The Secretary shall prepare at the end of each month a Receipts and Payments Account incorporating a classified summary of cash and bank transactions during the month and showing the balance of cash in hand and bank or of bank overdrafts, as the case may be, and place an Account before the market committee for its ratification or orders.(4)The Secretary shall prepare within one month from the end of a market year a consolidated Receipts and Payments Account for the market year, an Income and Expenditure Account for the market year and a Balance Sheet as on the closing date of the market year and place them before the market committee for ratification or orders.Explanations : (a) The Income and Expenditure Account shall only include revenue items relating to the market year it covers irrespective of whether or not they are actually received or paid within the market year and shall exclude all capital items.(b)The Income side of the Income and Expenditure Account shall include all revenue incomes of the market committee such as income from licence fees, market fees, tolls, rentals, interests on bank deposits and investments but shall not include such receipts as subsidies, loans, advances, security deposits, etc.Provided that when the market committee has received a subsidy from any agency to cover any revenue expenditure in full or in part, such part of the corresponding Subsidy Fund Account as may have been utilized in meeting the revenue expenditure may be transferred to the Income and Expenditure Account with the prior sanction of the Board.(c)The Expenditure side of the Income and Expenditure Account shall include all items of revenue expenditure incurred in the market year but shall not include such payments as payments on construction accounts, repayments of principal amounts of loans and advances, refund of deposits, etc.(d ) The surplus, if any, in the Income and Expenditure Account shall be appropriated in the manner laid down in sub-section (2) of section 19.(e)The liabilities side of the Balance Sheet shall show the closing balances of all Reserve and General Fund Accounts, Subsidy Fund Accounts, Loans or Advances or Overdraft Accounts, Sundry Liabilities and the net surplus of the income and Expenditure Account.(f)The assets side of the Balance Sheet shall show all fixed and floating assets, investments, advances and bills recoverable and cash and bank balances and the net deficit of the Income and Expenditure Account.
