Audit Report 2024-25

Velur Grama Panchayat Audit Report for the financial year 2024–25 highlights the financial performance, accounting practices, fund utilization, and administrative functioning of the Panchayat. The audit examined the Panchayat’s annual accounts, grants, development expenditure, tax collection, welfare schemes, and internal financial controls.

The report identified several accounting and financial irregularities that require correction and improved monitoring. Major audit observations include:

  • Certain medicine purchase expenses and capital expenditures were recorded under incorrect accounting heads.
  • Loan liabilities in the Balance Sheet were overstated due to incorrect accounting of repayments.
  • Errors were found in the calculation of Net Surplus in the Income & Expenditure Account.
  • Differences were noticed between grant balances shown in the Balance Sheet and balances available in corresponding bank accounts.
  • Important accounting records such as Journal Vouchers, Advance Registers, Deposit Registers, and Loan Registers were not properly maintained.
  • Variations were found between the “Sanchaya” property tax software records and the annual financial statements.
  • The audit also pointed out revenue loss due to incorrect classification of certain buildings for property tax assessment.

At the same time, the report acknowledges that the Panchayat utilized substantial funds for development activities, welfare schemes, employment guarantee programmes, infrastructure projects, health services, sanitation, and social security pensions.

The audit further notes that the Panchayat approved its annual budget and revised budget properly and implemented a significant number of development projects during the year.

Overall, the 2024–25 Audit Report indicates that while Velur Grama Panchayat carried out various public welfare and development activities effectively, improvements are needed in accounting accuracy, financial reporting, internal control systems, record maintenance, and reconciliation procedures to ensure greater transparency, accountability, and efficient financial management in future years.