Finance Standing Committee

 

                                                                           

                                                                              Ibrahim Kunnummal                                                                                                                                                                                                                Vice President Ward 14                                                                                                                                                                                                             Chairman ,Finance Standing Committee

 

                                                                                            

                                                              Sabana K                                Balasubrahmanyan K                                                                                                                                                                Ward 2                                      Ward 3

                                                                          

                                                      Pavithra V                                            Prameela M                                                                                                                                                                        Ward 7                                             Ward 16

      

Duties of the Finance Standing Committee

According to the Kerala Panchayat Raj Act, the Finance Standing Committee in a Grama Panchayat is a permanent committee responsible for efficiently managing the financial affairs of the Panchayat and ensuring financial support for development activities. The major responsibilities of the committee are given below:

  1. Preparation of Annual Budget
    Lead the preparation of the annual budget of the Grama Panchayat and submit it to the Panchayat Committee.
  2. Revenue Enhancement Measures
    Take necessary steps to increase Panchayat revenue through proper collection of taxes, fees, and license fees.
  3. Control of Expenditure
    Ensure that Panchayat expenditures are made legally and in a financially efficient manner.
  4. Accounts and Audit
    Examine Panchayat accounts and audit reports and take necessary follow-up actions.
  5. Financial Supervision of Projects
    Monitor the utilization of funds allotted for development and welfare projects.
  6. Collection of Taxes and Fees
    Ensure efficient collection of building tax, profession tax, license fees, and other revenues.
  7. Bank Transactions and Deposits
    Supervise Panchayat bank accounts, deposits, and financial transactions.
  8. Grants and Financial Assistance
    Ensure proper utilization of government grants, project funds, and other financial assistance.
  9. Supervision of Procurement Procedures
    Monitor Panchayat purchases and tender procedures to ensure legal compliance.
  10. Ensuring Financial Discipline
    Take measures to ensure transparency and accountability in financial transactions.
  11. Recovery of Arrears
    Take action to collect pending taxes and other dues payable to the Panchayat.
  12. Preparation of Financial Reports
    Prepare income and expenditure statements and financial review reports and submit them to the Panchayat Committee.

Responsibilities of the Finance Standing Committee

As per the Kerala Panchayat Raj Act, the Finance Standing Committee of the Grama Panchayat is responsible for controlling the financial affairs of the Panchayat and ensuring efficient financial management. The major responsibilities are as follows:

  • Prepare the annual budget of the Panchayat.
  • Examine and control the income and expenditure of the Panchayat.
  • Ensure the collection of taxes, fees, and license fees.
  • Examine the Panchayat accounts and financial records.
  • Review audit reports and take necessary follow-up actions.
  • Monitor the utilization of funds for development projects.
  • Ensure the proper utilization of government grants and financial assistance.
  • Supervise Panchayat bank accounts and financial transactions.
  • Ensure that procurement and tender procedures are conducted legally.
  • Take steps to recover pending taxes and other arrears of the Panchayat.
  • Ensure transparency and financial discipline in financial transactions.
  • Prepare income and expenditure reports and submit them to the Panchayat Committee.