The budget sheet is also known as the budget account.
The budget sheet is one of the various statements maintained by Government Offices in Nepal.
Budgetary control is concerned with the making of expenditures within the budget limit.
The budget account ensures appropriate utilization of funds and reduces the chance of misuse.
A budget sheet is a statement that contains annual appropriation, budget release and budget expenditures.
A budget sheet provides information of budget release, the amount spent under each head of expenditure and the balance at the bank.
It provides not only information about the budget but also supports the financial administration.
The government budget sheet is mentioned in AGF No. 208 (auditor general from number).
The main importance of a budget sheet is as follows:
It provides information about the budget released.
It helps to ascertain the annual budget for different budget heads.
It provides instructions to make expenses on different heads and sub-head.
It is a useful tool to control the budget of the government offices.
A budget sheet is a very important statement for operating-level government offices.
A budget sheet is used for controlling budget expenditures.
It provides information about annual appropriation, budget release and budget expenditure under different budget heads.
It helps to maintain effective control over the budget.
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Accounting Equation |
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Basic Journal Entries in Nepali |
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Basic Journal Entries |
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Journal Entry and Ledger |
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Ledger |
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Subsidiary Book |
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Cash Book |
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Trial Balance & Adjusted Trial Balance |
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Bank Reconciliation Statement (BRS) |
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Depreciation |
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Final Accounts: Class 11 |
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Adjustment in Final Accounts |
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Capital and Revenue |
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Single Entry System |
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Non-Trading Concern |
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Government Accounting |
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Goswara Voucher (Journal Voucher) |
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The main parts of the budget sheet are as follows:
· Annual budget section
· Budget release section
· Budget expenditure section
The annual budget amount is approved for different heads of expenditure.
The supplementary budget releases and appropriation of amount under different budget heads.
It is shown in this section with the necessary rules.
This section provides information on the allocation of the budget under each head of expenditure for a fiscal year.
The budget releases are shown in this section.
When budget releases are received, it is recorded in the related budget head.
All budgeted expenditures are recorded in this section.
Expenditure done through petty cash funds is also recorded in this section.
On the basis of goswara vouchers, budgeted expenditures are recorded under corresponding budget heads.
At the end of each month, the total of each expenditure headings is calculated.
Aggregate total upto the previous months are added with the total of the current month as a cumulative total.
The transactions are posted in the budget sheet on the basis of goswara voucher.
For the annual appropriation of the budget, goswara voucher is not prepared.
But for budget released amount and budget expenditures the goswara vouchers are prepared.
All the budget releases received and expenditures are recorded in the budget sheet.
Expenditure done through petty cash funds is also recorded.
Advance transactions are also recorded in the budget sheet.
When the advance is cleared the postings are made both within and outside the bracket.
The actual expenditure is posted, outside the bracket and advance cleared is posted inside the bracket.
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Under normal conditions, the budget sheet is closed at the end of every month.
It should be submitted to the central level office along with the expenditure report to get the budget release for the next month.
Finally, it is closed at the end of every fiscal year along with other books of accounts.
There are two types of budget sheet closing.
They are monthly closing and annual closing.
At the beginning of the fiscal year, the operating level office receives initial imprest fund in advance from central level office.
The operating level office should submit a budget sheet to the central level office along with an expenditure report at the end of every month.
It is essential to get a monthly budget release from the central level office.
Therefore, the responsibility of the operating level office is to close the budget sheet on monthly basis.
Budget expenditures upto the previous month |
xxxxx |
Or Budget release upto the current month |
xxxxx |
Add: Budget expenditures of the current month |
xxxxx |
Budget expenditures upto the current month |
xxxxx |
Total budget released |
xxxxx |
At the end of every fiscal year, all accounts of the budget sheet should be closed.
It is known as the annual closing of the budget sheet.
This closing is done by adjusting the total budget amount release and total budget expenditures amount during a fiscal year.
If there is any surplus, it is deducted from the budget release of the fiscal year.
The budgetary control does not allow overspending of the budget under any head.
The surplus amount is depending on the budget release.
It is transferred to budget freeze or deposited into the consolidated fund.
Total budget release during the fiscal year |
xxxxx |
Less: Total budget expenditures during the fiscal year |
(xxxx) |
Surplus budget (budget freeze or consolidated fund) |
(xxxx) |
Net budget |
xxxxx |
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Central/Province/Local Level |
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AGF No. 208 |
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Stamp of |
Government of Nepal |
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Nepal Govt |
Office Code No. xxx |
State Govt |
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Budget Sheet |
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For the month of … |
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Budget Sub-head No. |
Name of office: Local Level Office |
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P1 Bgt |
Budget sub-head |
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21111 |
21112 |
22311 |
29311 |
29511 |
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Salary |
Office |
Rent |
Furniture |
Vehicle |
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Total |
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Materials |
Expenses |
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Appropriation of approved annual budget for FY |
xxxxx |
xxxxx |
xxxxx |
xxxxx |
xxxxx |
xxxxx |
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Add or subtract the amount of budget transfer |
xxxx |
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Add or subtract the amount of fund |
xxxx |
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The accumulated budget (a) |
xxxxx |
xxxxx |
xxxxx |
xxxxx |
xxxxx |
xxxxx |
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P2 Rec |
Date |
VN |
Ref. |
Particulars |
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Budget released upto LM |
xxxx |
xxxx |
xxxx |
xxxx |
xxxx |
xxxx |
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Budget released for CM |
xxxx |
xxxx |
xxxx |
xxxx |
xxxx |
xxxx |
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Budget released upto CM (b) |
xxxx |
xxxx |
xxxx |
xxxx |
xxxx |
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P3 Exp |
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Total expenditures of CM (c) |
xxxx |
xxxx |
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Total expenditures upto CM (d = b + c) |
xxxx |
xxxx |
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Balance of budget (a – d) |
xxxx |
xxxx |
xxxx |
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Budget sheet, government accounting
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