Velur
Grama Panchayat

Velur Grama Panchayat Audit Report for the financial year 2023–24 evaluates the Panchayat’s financial management, annual accounts, fund utilization, development activities, tax collection, and internal control systems. The report highlights both the Panchayat’s development achievements and several accounting and administrative irregularities that require corrective action.

Major audit observations include:

• Certain assets were not included in the Balance Sheet, including a donated ambulance and investment share certificates.
• Some expenditures, including medicine purchases and construction-related expenses, were recorded under incorrect accounting heads.
• Errors were found in the calculation of Net Surplus in the Income & Expenditure Account.
• Differences existed between grant balances shown in the Balance Sheet and balances maintained in related bank accounts.
• Variations were identified in the Cash Flow Statement between actual cash flow figures and reported balances.
• Discrepancies were noticed between the “Sanchaya” property tax software records and the annual financial statements.
• Important registers such as the Advance Register, Deposit Register, Loan Register, and Asset Register were not properly maintained.
• Certain bank reconciliation statements and cheque clearance details were found to be inconsistent.
• The audit also pointed out that some private paramedical institutions within the Panchayat area were functioning without proper registration.

At the same time, the report acknowledges that the Panchayat implemented various development and welfare programmes effectively, including employment guarantee schemes, social security pensions, sanitation activities, road development, healthcare services, drinking water projects, and infrastructure improvements.

The audit further notes that the Panchayat approved and implemented a large number of development projects during the financial year and utilized funds under different government schemes and grants.

Overall, the 2023–24 Audit Report indicates that while Velur Grama Panchayat carried out significant public welfare and development activities, improvements are required in accounting accuracy, record maintenance, fund management, bank reconciliation, and internal financial control systems to ensure greater transparency, accountability, and efficient financial administration in future years.