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 Accounts and Finance Department |
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Information as per RTI Act 2005
The accounts and finance department is headed by the Chief Accounts Officer, reporting to Vice Chairman & Managing Director and is assisted by Senior Accounts Officers and Accounts Officers at the senior and middle management level.
The functions of this department are carried out under the Chief Accounts Officer, Senior Accounts Officers, Accounts Officers, and various Self-Accounting Circle / Units and each such Circle / Unit works under the supervision and charge of Assistant Accounts Officers.
4. (b) (i) Functions
Accounts & Finance Department performs three basic functions, viz. Accounting, Finance and Receipt and Payments.
Accounting
a) Keeping the books of accounts in accordance with the rules.
b) Internal check of transactions affecting the receipts and expenditure.
Finance
a) Tendering advice to the Management in all matters involving
Corporate finance.
b) Compilation and control of budget (including Treasury operations) in
consultation with other departments.
c) Investments of surplus funds as per the Government of Maharashtra
Directives.
d) Debt Servicing .
e) Ensuring no financial irregularity in the transactions.
Receipt and Payments
a) Collection, and deposit of Receipts.
b) Preparing payment schedule and arranging payment to the Vendors,
employees accordingly.
c) Making payment to the bonafide payees.
As a Financial & Management Advisor the following functions are performed -
Control over Receipts and Expenditure – Financial Concurrence to Receipt and Expenditure proposals based on approved budget for the year.
Financial Control
Preparation of Budget/Annual Plan based on various departmental budgets Monitoring Sources and Uses of Funds according to the Budgeted Plan Debt Servicing - Short Term surplus, if any, is invested in short term deposits with a view to mature on due dates for debt servicing.
Management Information Reporting
Preparation and Submission of Periodical Cash Flow Statement bringing out actual receipts and payments as compared to the Budget.
Preparation and submission of Quarterly Projected Cash Flow Statement based on Fund Requirements of Operative Departments, Debt Servicing Liability, Administrative and Establishments Expenditure vis-a-vis anticipated Marketing, Estate Collections to VC & MD for information.
Investment management
Short Term Working Capital Management is carried out effectively.
Circle-wise finalization of Annual Accounts and Consolidation thereof in Corporate Annual Report.
Liaison with Urban Development Department in Government, Bankers, CAG’s Office, Statutory Auditors and other GoM undertakings.
Co-ordination of Internal Audit tasks.
Manpower
The total sanctioned strength is deployed in Accounting Units in Navi Mumbai and New Towns of Nashik, Nanded, Aurangabad, Oros, Nagpur and Vasai-Virar for carrying out various day to day functions of accounts and Unit-wise finalisation of accounts at their end and Internal Audit Coordinating Unit.
4. (b) (ii) Powers
The various functions described above are carried out by Senior Accounts Officers, Accounts Officers, Assistant Accounts Officers, Accountants assisted by Accounts Assistants and Accounts Clerks, in that hierarchy , as per the instructions/procedures contained in Public Works Manual and Accounts Code, CIDCO’s various Rules, Regulations and Guidelines. Powers to carry out these functions are further delegated through Board’s approval, issued from time to time and delegation of powers (DOPs) to Chief Accounts Officer and further down the line of hierarchy.
4. (b) (iii) Procedure followed in the decision making process
The procedure followed in decision making process (while carrying out the functions as described in 4(b)(i) starts from supervisory level (Accountant) through a system of internal noting, bringing out various facts and figures with relevant rules, works accounts procedure, and other extant instructions. The proposals with noting are submitted to higher levels and decisions are taken by the competent authority as per the Delegation of Powers approved by the Board.
In addition to above, decisions are also taken in various meetings with MD, JMD, other Head of Departments, Additional Chief Engineers, Superintending Engineers, Executive Engineers, Statutory and Internal Auditors, Tax Consultants and organized unions.
Channel of Supervision
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Group of officer/staff
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Reporting to
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Accounts Clerk
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Accountant
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Accounts Assistant
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Accountant
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Assistant Accounts Officer
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Assistant Accounts Officer
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Accounts Officer
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Accounts Officer
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Senior Accounts Officer
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Senior Accounts Officer
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Chief Accounts Officer
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Chief Accounts Officer
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Joint MD / VC & MD
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Accountability
Every employee/officer of the hierarchy is given duties within the framework of duties described in 4(b)(i). Officers and staff are accountable to the extent performance of duties/tasks entrusted.
4(b)(v) Rules and Policies
Works Accounts Procedure and Guidelines issued from time to time, Establishment Rules, Service Rules, Housing / Vehicle / Computer Loan Rules, TA, LTA & Medical Reimbursement Rules, Discipline & Appeal Rules, Leave Rules, PF Rules and Gratuity Rules.
Regulations
Maharashtra Regional & Town Planning Act 1966, New Bombay Development and Land Regulations 1975, Memorandum and Articles of Association, Indian Contract Act, Minimum Wages Act, Industrial Disputes Act, Negotiable Instruments Act, Income Tax Act, Service Tax Act, Sales Tax Act, Maharashtra Value Added Tax Act, Arbitration Act, Payment of Wages Act, Consumer Protection Act 1987.
Instructions
Board of Directors’ directives and instructions, VC & MD / JMD’s instructions, CAO’s instructions and instructions issued by the respective Head of Departments with the approval of VC & MD, from time to time.
Records
The list of records with period of preservation is as per the Public Accounts Code and Manual. Generally the following records are maintained for the day to day discharge of different functions.
1) Attendance Records, Pay Sheets, Final dues settlement orders, PF ledgers, Settlement Registers, Leave Accounts, Pass/PTO Registers, Loans and Advances Registers, Deposit Registers, Paid Vouchers, Unpaid Statements, Rosters, Musters, Cadre Statements for establishment claims.
2) Vouchers for Paid Bills, Contractor’s Ledgers, Security Deposit/EMD Registers, Miscellaneous Advances Registers, Staff Advance Registers, Copies of Approval and Financial Concurrence by Competent Authorities, Contract Agreements, Purchase / Work Orders, Bank Guarantee Registers, Bill Inward/Outward Registers for expenditure claims, Fund Requisitions, etc.
3) Cash and Cheques Scroll, Petty Cash Register, Debit Vouchers accompanying the Approval and certified Bills, Journal Vouchers, Journal Registers, Cash Book, Ledgers, Bank Reconciliation statements , Subsidiaries.
4) Annual Reports that are approved by the Board, audited by C & AG, approved by Share Holders (Government), and placed in the both the Houses of Assembly, Corporate consolidation Statements of Circle-wise Groupings of Annual Accounts, Corporate Balance Sheet and Profit & Loss Account with all the related Schedules, Auditors’ Reports, Compliance of Government Directives / references, Compliance of provisions of various Acts.
5) Approved Project Reports, Operative Budgets for the year, Operative Schedule of Rates, Delegation of Powers, Sanctions, Orders, Instructions, Recommendations, Tenders, TC Minutes, Works Programmes for finance functions, etc.
6) Approved Budgets, Budgetary statements, Budget Grants, Budget requirement statements of all departments, Statement of expenditure, Control statements, Audit References and Appropriation Accounts for Budgetary work.
7) Allotment Orders with approval by competent authority, Receipt authorization and approval, Credit Vouchers accompanying the Approval, Buyers’ Contribution Registers (Sale Advances), Miscellaneous Deposit Registers, Sale Entries, Cash & Cheques Scrolls, Bank Deposit Slips, Bank Reconciliation Statements, etc.
4(b)(vi) Statement of documents held - As given in 4(b)(v)
4(b)(xvi) Name of Public Information Officers
Please refer list of Information Officers.
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