Date: May 10, 2019 To The Project Director, Rural Water Supply & Sanitation Project, Jharkhand State Water & Sanitation Mission Society, Drinking Water & Sanitation Department, Jharkhand, Ranchi Sub: Submission of Consolidated Audit Report of SPMU-Ranchi and its 6 DPMU offices for the Financial Year 2017-18. Ref: Letter No. JSWSM/WB/59/13/Part-1I-171 dated 16/04/2019 Dear Sir, With reference to our appointment as External Auditor vide above reference, we are pleased to submit our Consolidated Audit Report of SPMU-Ranchi and its 6 DPMU offices for the Financial Year 2017-18. If any clarification/explanation needed, please let us know. Fo SR Patodia & Assoc-a^ CA Navin Kumar Sharma Partner, Membership No 305503 Enclosures: 1. Audit Report 2. Annual Financial Statements and Schedules 3. Receipt and Payment Account 4. Reconciliation between IUFR and Income & Expenditure a/c 5. Significant Accounting Policies and Notes to Accounts and other Disclosures Head Office : Shree Shakambhari Corporate Park, Plot No. 156-58, Chakravarti Ashok Complex, J. B. Nagar, Andheri (East), Mumbai - 400 099 Tel.: +91 22 6707 9444 * Fax : +91 22 6707 9959 * Email : info@skpatodia.in Offices : New Delhi I Kolkata I Bengaluru I Jaipur I Ahmedabad I Bhopal I Ranchi I Patna I Raipur I Hyderabad V5ARTERED ACCOUNTANTS NDEPENDENT AUDITORS REPORT To The Project Director, Jharkhand State Water & Sanitation Mission Society, Rural Water Supply & Sanitation Project, Drinking Water & Sanitation Department, Jharkhand, Ranchi Report on thes Fitnancial Statemns We have and ted the accompanying f nanda statements of the State Project Management Unit and its B District Project Management Unit ude: Rural Water Supply& Sanitation Project For Low In come States (Neer Nirmnal Pariyojna), Jhiarkhand Stats Waler & Sanitation Mission Society (JSWSMS), JIharkhand, 3r Floor. Dor anda Water Supply Tank Complex, Near Doranda Thana, Doranda, Panchi, Pin-834002 which comprises the Consolidated Balance sh t as at 31st March, 2018, The Consolidated Income & Expenditure Account for the year ended and a consolidated summary of significant acCounting policies and other explanatory information. Management's Responsibility for the Financial Statements Management is responsible for the preparation of these financial statements that give a true and fair view of financial position, financial performance of the society in accordance with accounting standards issued by The Institute of chartered accountants of India. This responsibility also includes maintenance of adequate accounting records for safeguarding the assets of the society and for preventing and detecting the frauds and other irregularities; selection and application of appropriate accounting policies; making judgements and estimates that are reasonable and prudent; and design, implement and maintenance of adequate internal controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to expe ss an opinion on these financial statements based on our audi VVe conducted our audit in accordance with the applicable Standards by The Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assuran6e about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. IARTERED ACCOUNTANTS Opinion ln our aonion and to the best of our rnformaton and according to tho explanations given to us the aforesaid financial statements gives a rue and fair iew in conformiy wth the accounting principles generally accepted in india subject to the observations provided under Annexure-4 a) in the case of the Consoldated Balance Sheet, of the state of affairs of the society as at 31st March 2018; b) In the case of the consolidated Statement of Income & Expenditure, of the excess of expenditure over income for the year ended on that date; and Report on Other Legal and Regulatory Matters 1. Wereportthat: a) We have obtained all the information and explanations which, to the best of our knowledge and beliet were necessary for the purpose of ou audi b) In our opinion, proper books of accounts have been kept by the society so far as appears from our examination of those books. c) The Balance sheet. the Income and Expenditure accouni and the Receipt & Pavment Accouns i y this e in 7 e v.-t it d) In our opinion, the Balance Sheet and Income & Expenditure Account comply with applicable Accounting Standards issued by The Institute of chartered accountants of India. For SK Patodia & Associates Chartered Accountants FRN: 112723W avin Kumar Sharma (Partner) Membership No.:- 305503 Place: Ranchi, Jharkhand Date: May 10, 2019 S~~~ ATISCT UJARTERED ACCOUNTANTS ANNEXURE -I SSPMU RANCHI 1. Details of TDS Return Filing:- Delay in Quarers orm Due ate Actual date Deposit Status of Return Quates orm Du Dte of filling (iD 24Q 31-Jul-17 NA NA 26Q 31-Jul-17 21-Jul-17 No Delay Processed without defaults 24Q 31-Oct-17 NA NA II 26Q 31-Oct-17 14-Oct-17 No Delay Processed without defaults 24Q 31-Jan-18 NA NA 26Q 3Processed with defaults 26Q 31-Jan-18 15-Jan-18 No Delay (Rectification Required) 24Q 31-May-18 NA NA IV 2Processed with defaults V 260 31-May-18 26-Apr-18 No Delay (Rectification Required) The above details are taken from TRACES Portal as on 4th May, 2019 Observation:- As per the above details, TDS returns filed for Q3 and Q4 of 2017-18 has been reflected "Processed with defaults (Rectification required)" on TRACES Portal as on 4th May, 2019. Recommendations:- It is recommended that statutory returns should be filed without any error/ defaults. 2. Details of TDS Return Filing:- TRACE Port cal r c e san g T m D e amoun I Rs. 50 1 2015-16 9,670 2 2016-17 7,350 3 2017-18 820 4 2018-19 2,640 5 2014-15_ 31,540 The obove details are taken from TRACES Portal as on 41~ May, 2019 Observation:- TRACES Portal reflected outstanding TDS Demand for the amount of Rs. 52,020/- a on 4t May, 2019 Recommendations:- It is recommended that statutory demand should be clear as soon as possible. CVARTERED ACCOUNTANTS 3. In common practice, Store and Fixed assets register should be authorized by the competent authority and verified physically at least once in a year but we have found that, no authorization as well as physical verification was done by the auditee for both the registers since inception. Further, value and name of Party from which Fixed asset was purchased are not being maintained in fixed asset register Recommendations:- * It is recommended that auditee should verify the store consumables as well as fixed assets physically on regular intervals to avoid/minimize the deficit/loss. * Registers should be maintained in all respect. 4. Reconciliation between IUFR and books of accounts is not possible due to non- availability of IUFR for FY 2017-18. 5. Rs. 35 crore received as state project fund during previous years were not taken into accounts (Balance Sheet) as on 31st March, 2017. Now, effect of the same has been taken into account. 6. Cheque issued for the amount of Rs. 1,729/- for disbursing of expenses during FY 2017- 18, and the same has been treated as income in the books of accounts maintained by the auditee. Now, the same has been rectified and deducted the same from expenses booked earlier. 7. As per the verification of Ledger book, we have observed that the following ledgers are not found or not updated:- * Vehicle hire charges Account * NRDWP Fund Accounts * Security Deposit Account 8. As per the verification of vouchers, we have found following issues:- A. TDS are being deducted on Service Tax/GST component. However, as per circular 23/2017 issued by the CBDT dated 19th July - 2017, TDS should not be deducted on Service Tax/ GST component. B. Rs. 3,000/- paid to Mr. Arvind Kumar Sharma excessively related to Professional Fees and Allowances in comparison of supporting documents found at the time of verification dated 05/08/2017. K PaodiA & AssociATES CARTERED ACCOUNTANTS DPMU DIUMKA 1. Mnth iseDetalS f TD Deuction: 1. Details o D of onth wise TDS not made available to us, hence it is not Details related th TDScio o possible to calculate delay in deposit the TDS. 2. DetaiL ottu Tof Return FIn Actual date Delay in Deposl ttaton Reur Quarters For Due Date of filling n Days) NA -- 24Q 31-jul-17 NA ie 8 1 26Q 31-Jul-17 NtFedNA 24Q 31-Oct-17 NA 188 1t 26Ct 31-Oct-17 Not Filed NA 24Q 31-Jan-18 NA 96 IT u 26Q 31- an-1g Not Filed NA 24C Mlatus NProcessed with defaults (Re 8 No Deay (Rectification Required) IV 26ti 31-May-18 23-May- M 2 an calculation o The above details are taken from TRACES portal as on 7 MY, delaY in days are upto f" May, 2019. Observation:- f 2017-18 were not filed by the auditee. Further, return TDS returns for first 3 quartr o hdfuts (Rectification required)". for Q4 has reflected status "Processed wideanR Recommendations:- should be filed on time without any error/ It is recommended that statutory returns defaults. vberation:f TDS Demandoforgthcamount of Rs 410130 -o uRACESaPabl ofrlct e sang 0 7th pla0, 201 It~~ is reomene that sttuor1dma 4.l Bos of auts (ally tarentmitielyfeakf vberiation: ofS opening balnc with reount ofR.40-3/so uviaiit of Traing balance son0104207 CjARTERED ACCOUNTANTS 5. Cheque dates provided in the Bank reconciliation statement prepared as on 31st March, 2018 are not in line with the books of accounts and providing inappropriate information to the stakeholders. 6. As per the Statutory Audit Report of F.Y. 2016-17 provided to us, it was observed that Fixed Assets amounting to Rs 828,279/- were reflecting in the financials, however as per the information and records available to us, no addition or disposal during the F.Y.2017- 18. 7. In common practice, Store and Fixed assets register should by authorized by the competent authority and verified physically at least once in a year but we have found that, no authorization as well as physical verification was done by the auditee for both the registers since inception. C'ARTERED ACCOUNTANTS DPMVU East Singhbhum 1. Details of TDS Return Fi-in DelaY in Actual date Deposit (In Status of Return IQuarters For IM Due Date of filling Days) NA 24Q 31-Jul-17 NA Processed without defaults 26Q 31-Jul-17 31-Jul-17 24Q 31-Oct-17 NA NA II 26Q 31-Oct-17 30-Oct-17 -Processe without defaults 24Q 31-Jan-18 NA NA Prcesed witho ut def aulIts II 26Q 31-Jan-18 19-Jan-18 24Q 31-May-18 NA NA IV 26Q 31-May-18 02-May-18 Prcse ihotdfut 2. Detai TRACES. There is no TDS demand as per TRACES. 3. Mismatch in Oening .alanCe; 3s per atutory Audit As per Tally of FY201 Dfence PartiCUlarS Report of F.Y. 2016-17 18- TDS ayale s 2,73764Rs 22,33,687 (ps 59,923 Note: - Above difference has been adjusted with the capital fund. 4. In common practice, Store and Fixed assets register should by authorized by the competent authority and verified physically at least once in a year but we have found that, no authorization as well as physical verification was done by the auditee for both the registers since inception. CIUARTERED ACCOUNTANTS OPMU GARHWA 1. During the course of verification of statutory compliances, we have found that in two cases, auditee is in default to deposit the TDS on time to the concerned authority:- - - --- --- - -TDST TDS Due Date TD Actual Delay in Particulars Month Deducted of Deparitmeto Payment Deposit (In Value) payment Date (In Days) (in_Value) Cas e-1 Apr-17 93,794 07-Apr-18 7,430 09-May-17 2 Case-2 Oct-17 278,236 07-Nov-18 278,236 08-Nov-17 1 Recommendations:- * We have recommended that statutory dues shall be deposited by the Auditee within due dates and on regular basis to avoid the interest and penal provisions. 2. Details of TDS Return Filing:- Actual date Delay in Deposit Quarters Form Due Date l (Res status of Reuren 24Q 31-Jul-17 NA NA 2 3 lProcessed with defaults 26Q 31-Oct-17 30-Oct-17 No D(Rectification Required) 24Q 31-Oct-17 NA NA Ill 3Processed with defaults 26Q 31-Jan-18 3-Jc-18 No Delay (Rectification Required) 24Q 31-Jan-18 NA NA I 2 Processed with defaults 26Q 31-a-18 27-a-18 No Delay (Rectification Required) 24Q 31-May-18 NA NA IV 26Q 31-May-18 27-May-18 No Delay Prcsewihdfut The above details are taken from TRACES Portal as on 24' April, 2019 Observation:- As per the above details, there has been delay of 91 days in filing of TDS return for the 1st Quarter of 2017-18. Further, all the returns reflected status "Processed with defaults (Rectification Required)" as on the date of visit. Recommendations:- It is recommended that statutory returns should be filed on time without any error/ defaults. 3. Details of TDS Demand as per TRACES:- Financial Year Demand (in Rs.) 2016-17 450 2017-18 196,870 CARTERED ACCOUNTANTS 2018-19 86,200 Total 283,520 The above details are taken from TRACES Portal as on 24th April, 2019 observation:-aso TRACES Portal reflected outstanding TDS Demand for the amount of Rs. 283,520/- as on 24 th April, 2019 Recommendations:- It is recommended that statutory demand should be clear as soon as possible. 4. Liabilities related to TDS and Security Deposit were not disclosed in the balance sheet as on 31st March, 2017 amounting to Rs. 149,339/- and Rs. 12,143/- respectively. Now, the same has been created after adjusting the capital fund. 8. As per the Statutory Audit Report of F.Y. 2016-17 provided to us, it was observed that Fixed Assets amounting to Rs 1,098,392/- were reflecting in the financials, however the same are Mis-matched under tally books (Opening Balances). 5. Opening figures as on 1st April, 2017 (as per Statutory Audit Report) are not being reconciled with the Tally books maintained by the auditee. Further, all the transaction incurred during the audit period has not been taken into books (Tally). 6. As per the details made available to us, we have found that 2 Cheques (Chq. No. - 210155 & 210231) amounting to Rs. 2,199,000/- has been stolen as well as the same has been withdrawn from the bank account of auditee. In this regard a FIR has been lodge to police by the auditee. 7. In common practice, Store and Fixed assets register should by authorized by the competent authority and verified physically at least once in a year but we have found that, no authorization as well as physical verification was done by the auditee for both the registers since inception. Recommendations:- It is recommended that auditee should verify the store consumables as well as fixed assets physically on regular intervals to avoid/minimize the deficit/loss. QARTERED ACCOUNTANTS DPIMU KHUNTI 1. During the course of verification of statutory compliances, we have found that in two cases, auditee is in default to deposit the TDS on time to the concerned authority:- TDS Due Date Dsdt Actual Delay in Particulars Month Deducted of Deatet Payment Deposit (in Value) payment (Dnpalument Date (In Days) Case-1 Jul-17 5,608 07-Aug-17 5,608 06-Oct-17 60 Case-2 Mar-18 94,893 07-Apr-18 94,893 10-Apr-18 3 Recommendations:- * We have recommended that statutory dues shall be deposited by the Auditee within due dates and on regular basis to avoid the interest and penal provisions. 2. As per Rule 154 of General Financial Rules-2017, Purchase of goods upto the value of Rs. 25,000 (Rupees twenty five thousand) on each occasion may be made without inviting quotations or bids on the basis of a certificate to be recorded by the competent authority. However, during the course of audit, In following instances we have found that no such certifications were taken by the auditee in case of procurement of Material or Service or both, below Rs. 25,000/-.:- Date Particulars o.ce Aon 15-10-2018 Other Misc. Expenses 52 9,375 ers.095/ xp_id to Santosh Kumar Singh for repoir of Kent and Rs.5280/- to Sri Amit Kumar for scanning of SVS DPR's. 29-10-2018 Capacity Building 4 7,51$ Being Bi rsa Conteen and Tonner refill to Sri Navneet Kumar, Rs.2250/- to Print Master for Bonner and Rss3420/- to Sri Santosh Kr. Singh for DPR and 80Q Expenses paid ais per details attached with vouichers. 12-03-2019 Other Misc. Expenses 95 2,750 Amount paid to Welcome gift House for supply of plastic chairs 29-03-2019 Expenses on Hardware & Software 105 1,700 Printer repair Total 23,94 COARTERED ACCOUNTANTS C Recommendations:- We have recommended that certification under rule 154 of GFR, 2017 shall be taken by the auditee from the competent authority in case of procurement without quotation as well as it is below Rs. 25,000/- 3. In common practice, Store and Fixed assets register should by authorized by the competent authority and verified physically at least once in a year but we have found that, no authorization as well as physical verification was done by the auditee for both the registers since inception. Recommendations:- It is recommended that auditee should verify the store consumables as well as fixed assets physically on regular intervals to avoid/minimize the deficit/loss. 4. Utilization certificate has been prepared and submitted by the auditee in respect of the funds utilized during the financial year 2017-18. The details are given below:- rtAmount (in Rs) 1 Opening Balance of P?roject Fund as on 01/04 /2017 36,1265,943 2 Add: _______ Fund Received During 2017-18 Interest Earned During 2017-18 on Project Fund 1,247,895 3 Less: Revenue Expenditure During 2017-18 18,682,413 Capital Expenditure During 2017-18 9,500 Net Current Liabilities Paid During 2017-18 241,125 4 rClosing Balnc ofPoetFnd ason 31/03/2018 18,580,800 g aaceo Prec Fu O3O Observations:- Utilization certificate provided by the auditee reflecting closing balance of fund amounting to Rs. 18,831,425/- as on 31st March, 2018 but as per the books it would be 18,580,800/- (Given in above table). Recommendations:- It is recommended to submit the utilization certificate to the SPMU on quarterly basis C4ARTERED ACCOUNTANTS DpMU PALAMU 1. During the course of verification of statutory compliances, we have found that, auditee is in default to deposit the TDS on time to the concerned authority.- TDS Actual Delay in TDS Due Date Deposited to Payment Deposit Paricuars Monh Dduted of epatmet Patem(n Dayos)t of ae e Ulna (in Value) IPaYMent (in Value) Case- Mar-18 7,430 07-Apr18 7,430 13-Apr-18 6 TDS Registration has not been taken by the DPMU-Palamu. However, the above deduction of Rs. 7,430/- was deposited in the TAN of DPMU-Garhwa. Recommenldations:- * We have recommended that statutory dues shall be deposited by the Auditee within due dates and on regular basis to avoid the interest and penal provisions. * It is recommended to take the TAN by DPMU-Palamu as soon as possible. 2. D eta i f TD R turn Filing: TDS Registration has not been taken by the DPMU-Palamu. 3. Details of TDS Demand as per TRACES: TDS Registration has not been taken by the DPMU-Palamu. 9. As per the Statutory Audit Report of F.Y. 2016-17 provided to us, it was observed that Fixed Assets amounting to Rs 207,536/- were reflecting in the financials, however the same are Mis-matched under tally books (Opening Balances). 4. In common practice, Store and Fixed assets register should by authorized by the competent authority and verified physically at least once in a year but we have found that, no authorization as well as physical verification was done by the ahrditee for both the registers since inception. Recommendations:- * It is recommended that auditee should verify the store consumables as well as fixed assets physically on regular intervals to avoid/minimize the deficit/loss. (,ARTERED ACCOUNTANTS CA- DPMJ SARAIKELA 1. Details of TDS Return FIlnZ: 2 Deay in ta n a o t ae Actual date Deposit (in eStaut forurn Quarte of filling since inception 1 24Q 31-Jul-17 Proes eA I 26Q 31-Jul-17 31-Jul-17 Poesdwtotdfut 2Q 31-Oct-17 NA NA 2Q 31-Oct-17 17-Oct-17 Processed without default 24Q 31-Jan-18 NA NA 26Q 31-Jan-18 19-Jan-18 Processed without defaults 24Q 31My1 ANA IV 26Q 31-May-18 01-May-1 Processed without defaults 2. LealqfgD ean spr TRACES: There is no TDS demand as per TRACES. 3. In common practice, Store and Fixed assets register should by authorized by the competent authority and verified physically at least once in a year but we have found that, no authorization as well as physical verification was done by the auditee for both the registers since inception. VOARTERED ACCOUNTANTS OTHERDS _SPMU RANCHI 1, Utilization certificate has been prepared and submitted by the auditee in respect of the funds utilized during the financial year 2017-18. The details are given below:- u PrjectFund State Project Fund . UParticulars (in Rst) a (in Rs.) 1 Openng Balance of Project Fund as on 17,635300000 01/04a/2017 (including Cash) Fund Received During 2017-188 Interest Earned During 2017-18 on 11,840,648 t Project Fund Fvnue Expenditure During 2017-18 14,713,645 Capital Expenditure During 2017-18 Pay/ment of Current Liabilities 860,1010 0,9,3 Inter Unit Fund Transfer1 6100010,993 4 Closing Balance of Project Fund as on 115,021,777 249,7 03,065 31/03/2018 (including cash)-- DPMU1 DUMVKA 1. Utilization certificate has.x been prepared and subm,,itted by the auditee in respect of the 2 Add: 3,0,0 Fund Received During 2017-18 10,019,000 Other Income During 2017-1810100 3 Less: 683,3 Project Expenditure During 2017-18 3J ,3 CaptalExpndiureDurng2017-18 4 ngBlne ofPDoject Fund as on 31/03/2018 _2,352,366. DPMU EAST SINGHBHUM 1. Utilization certificate has been prepared and submitted by the audit ee in respect of the funds utilized during the financial year 2017-18. The details are given below.-- ARTERED ACCOUNTANTS Expenditure during the F.Y. 2017-18 -------!--Cloing Balance of Pr oject Fund as on 31/03/2018 _2 B. Utilization Details of State Fund: S. NO. rIcuar Amount (in Rs.) 1 On-peninig Balance of Stae Fund as on 01/04/2017 200,0,000 2 Add: Fund Received during F.Y. 2017-18 (State) 26,00,00,000 Interest Earned during F.Y. 2017-18 on State Fund 34,41,667 i 3 1Less: uund Re15,97,03,065 Fud Returned to SPMU Fundtrtansfrre toProjct und26,00,00,000 up nd ransfe,96,935 Expendliture during the F.Y. 2017-184,2 losingBlan Of PTctFud as o 34,41,667 Observation: As per the books of accounts (tally), fund received from State Government as loan is Rs 30 Crores, however in Utilization Certificate submitted to the Head Office only Rs 26 crores is shown. Recommendations:- it is recommended to submit the utilization certificate to the SPMU on quarterly basis. DPMU GARHWA 1. Utilization certificate has been prepared and submitted by the auditee in respect of the funds utilized during the financial year 2017-18. The details are given below:- S. No. Particulars Amount (in Rs.) 1 roject Fund as on 01/04/2017 '. 88,009,195 2 Add: Fund Received During 2017-18 Interest Earned During 2017-18 on Project Fund 2,859,659 3 Less: Revenue Expenditure During 2017-18 73,559,163 Capital Expenditure During 2017-18 53,775 Current Liabilities (Payable as on 31/03/2018) 137,032 Th et C e -u e2,199,000 4 lsing Balance of Proiect Fund as on 31/03/2018 149,19,884 Recommendations:- * It is recommended to submit the utilization certificate to the SPMU on quarterly basis. DPMU KHUNTI CJARTERED ACCOUNTANTS 1 Details of TDS Return Filing- 1uarters cer has beD Actual date of filling Delay in Deposit in Days) - - - -- -I NA N Fnd24Q 31-Jul-17 -8 - 26Q 31-Jul-17 25Ju-1 NeAy 24Q 31-oct-17 N II26Q 3-Oct-17 14-Oct-17 NeAy 24Q 31-Jan-18 NA NA II26Q 31-Jan-18 15-Jan-18 No Delay 24Q 31-May-18 NA NA IV 26Q 31eMay-18 24-Apr-18 No Delay The above details are taken from TRACESPortal as on 18 April, 2019 DPMU PALAMU 1. Utilization certificate has been prepared and submitted by the auditee in respect of the funds utilized during the financil year 2017-18. The details are given below:- 2 Add: Fund Received During 2017-18 9,1 Interest Earned During 2017-18 on Project Fund 9,1 TDS Deducted (Payable as on 31/03/2018) 7,430 3 Less:3748 Amount Expended During 2017-18 C4osin e_fPrOjet Fund a--0n 3/2018 _2,189,963 DPMU SARAIKELA 1 Utilization certficate has been prepared and submitted by the audntitee in respect of the funds utilized during the- financial year 2017-18. The details are gKven below-- S' -rvcar Amiount (In Lakh) 1 Opening Balance of Project Fund as on 01/04/2017 313.27 2 Add: Fund Rcieduing F.Y. 2017-18 (SPMVU) Fund Received during F.Y. 2017-18 from State Govt. as Loan Interest Earned during F.Y. 2017-18 on Project Fund 8.87 3 Less: Fund Returned to SPMVU 14.7 Expenditure during the F.Y. 2017-18 _1302.24 Clsig alnc f Project Fund as on 31/03/201'8132 Recommendations:- it is recommended to submit the utilization certificate to the SPMVU on quarterly basis. COMMON RECOMMENDATION - ARTERED ACCOUNTANTS 1. A detailed field visit plan may be prepared for monitoring and inspection of Project scheme and the same shall be approved by the higher authorities and visited by the concerned person according to the plan.+ Concerned Monitoring officer / visitor shall prepare a verification report in the prescribed format / checklist approved by the higher authority. Report prepared by the concerned monitoring officer shall be submitted to the appropriate authority. 2. During the course of Audit we have observed that huge balances held in the bank account in the financial year 2017-18 and the same has not been converted into auto- sweep facility. Due to this, auditee incurred loss in terms of Interest. Recommendations:- It is recommended to convert the bank account into sweep in facility to earn higher interest on the idle fund laid down in the bank. 3. It is recommended that auditee should verify the store consumables as well as fixed assets physically on regular intervals to avoid/minimize the deficit/loss. 4. It is recommended to submit the utilization certificate to the SPMU on quarterly basis. UNIT WISE SPECIFIC RECOMMENDATION SPMU RANCHI 1. Auditee maintain its books of accounts manually. 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Q б_....,,,� � � - � � � � 1 --- � � п а ш � г �' � � � � � и� и� s � � `� � � �" i w `° + � i и� i Е t4 i �' �, ц и , ш w аг с ш и `� � � � a�i и7 � � и р� н = 3 `� � Ш Ш � � �v У � т °,� ° rscri т � I �I � �v о ц3 � s `� v г� 1, � � � � � L с � J � 1 � съ и� � Ш х �,, i с�q.. у<�;��: а ц1 �:: I�_: j с� С н д7 .� � � и _ и Ш _ I � � д О а б �� � �� а �� Ir } а.7 � � � � Ll1 т й � п � � ! й �р `р й ш Viv � ... � о� Ш � Q 14 I�: +� гs о� с ц.4 �, "' v J � с с rn Ш �,;, г� ��г� � tп � Ш Q а сt.� а 3 с� , р�� .� й Й - �i и' ц] `} � :о � � � �. � й r_ � � �'�'���° � а т�f}о и} П`�. �С7� и � �рСдС]F ц] Jharkhand State Water and Sanitation Mission Society (JSWSMS) Rural Water Supply & Sanitation Project (RWSSP)-LIS State project Management Unit (SPMU) CONSOLIDATED RECEIPTS AND PAYMENTS ACCOUNT 1 -Apr-2017 to 31 Mar.2 0`18 All arnoull P . 0 F?u ees) Recvlpl % TotAl Paymeritz Total 0 Balance 10,249 Ca itat Fund 159,703,055 Cash balances 570,565,558 F u rid refo rid ad to S P MLJ Balances with Banks 350000000 Stale pro'ect Fund - Fixed Assets & trivestme-n-t 63,275 Ca ital Fund 1 075 . I Fixed Assets Fund Received from SPMU 300,OGO Investment Fund Rocaved from State Govt_ - Current Asset X I ahilities Current sets I iahilities B,846,829 Security DePOsits 1 9 302,760 Sundry Creditors 7,300 TOs 22. 10,948 professional Tax 30.317 Labour Cass 9,oil,336 Royalty 1,525.275 Sales Tax I WCT 20,614.161 TDS aB1,389 Loans and Adva 111.494 Sales Tax(WCT 292,513 RoyaltY 374,708 Labour Coss 2,539.132 Duftei & Taxes 2.664.021 Duties & Taxes . Sundry Creditors 742,646,833 79,074 Fond Transfer (P-12d Fund) 860.100.000 - Fund Transfer (StmtP Proiect Fund) 100.295,935 9 260 professional Tax Hold Back (10%) Income Indirep Ex onses 12,732,927 Capac[ty Building nnd Sector Development '0me rrorrk I nvestMents 3 1.347,564 ififrastructure Development 108,148,390 Interest Earned 597,424 Program Management Support 23,568,042 Other Income - Interest & Finance Charges 4,569 Miscellaneous Expenses Extraordinary Expenses 2,199,000 Deprecierfion on Fixed Assets Closin Batan" 5,4 16 czlnh balances sta e 7 oject Fund 2 4 q - 13 3,0 65 13slance under 45 ', or" 229 B'J"'Ce yvitn ba kS 2,8R7 618 ""tA L07.d Tlltl 2 87 679 4Z4 Grand Total Joint Director Project Director Deputy Director (Finan jSWSMS-Ranchi jSWSMS-Ranchi jSWSMS-Ranchi DWSD DWSD DWSD Place:- Place:- Place Date:- Date:- Date For, SK patodia & Associates Chartered Accauntant$ Secretary FRN:- 112723VV DWSD Place:- CA Navln Kumar Sharma Date:- Partner M. No.:- 305503 p I ace Ranchi Schedule B-13A: Significant Accounting Policies and Notes to Accounts and other Disclosures 1: Significant Accounting Policies Important accounting policies to be followed by the organisation in respect of accounting for its transactions and in the preparation and presentation of the financial statements. All the policies are disclosed below. 1. BASIS OF ACCOUNTING The financial statements are prepared on a going concern and under cash basis of accounting. The method of accounting is the double entry system. 2. ACCOUNTING CONVENTION: Accounting policies not specifically referred to otherwise are consistent and in consonance with generally accepted accounting principles and going concern concept. 3. FIXED ASSSETS: All Fixed Assets are carried at cost. The cost of fixed assets include cost incurred/money spent in acquiring or installing or constructing the fixed asset. All assets costing less than Rs.5,000/- would be expensed I charged to Income & Expenditure Account in the year of purchase. 4. DEPRECIATION: Depreciation is not provided on fixed assets. However, asset replacement fund has been created for the 100% value of fixed assets. 5. INVENTORIES: No Inventories held with the Auditee. 6. CONSUMABLES STORE REGISTER: Material Issue and receipt slips are not being generated at the time of "transfer to and transfer from store", also no authorisation/receiving has been taken on register at the time of issue of material. Consumables store register are not being maintained properly, in terms of quantity as well as Value. 7. REVENUE AND EXPENDITURE RECOGNITION: a) Fund Receipts: Fund received are being recognized in the books at the time of inflow into bank. b) Expenses: Expenses are recognized on cash basis. II: Notes to Accounts:- The preparation of financial statements in conformity with generally accepted accounting principletn guidelines requires Societies to make estimates and assumption that affect the reported balance of assets and liabilities as at the date of financial statements 1. Bank balance has been taken as per books of account. 2. Manual books of accounts are being maintained by organisation. 3. Depreciation is not provided on fixed assets. However, asset replacement fund has been created for the 100% value of fixed assets. We have find out some special points during the course of audit. Location wise details are given below:- 1 Rs. 35 crore received as state project fund during previous years were not taken into accounts (Balance Sheet) as on 31st March, 2017. Now, effect of the same has been taken into account. 2. TDS liability as on 31t March, 2017 amounting to Rs. 107,277/- were not taken into records at the time of finalisation of books for FY 2016-17. However, the same has been taken into account during the current financial year after adjusting capital fund. IDPMU EAST SINGHBHUM 1. Mismatch inl Opening Balance: 1. riclr As pettutory Audt Aspe Ta ly of F.Y.2017 Differec Patclr Report of F.Y. 2016-17 1 L TDSPa -ible s 2,73,64 s 2,33687(Rs 59,923 Note: - Above difference has been adjusted with the capital fund. DPMU GARHWA 1 As per the details made available to us, we have found that 2 cheques (Chq. No. . - 210155 & 210231) amounting to Rs. 2,199,000/- has been stolen as well as the same has been withdrawn from the bank account of auditee. In this regard a FIR has been lodge to police by the auditee. 2. Security Deposit amount refunded amounting to Rs. 12,143/- during the year 2017-18. However, No Liability was created for the same in the in the books as on March, 2017. Hence, a liability has been created for the amount of Rs. 12,143/- after adjusting the same from capital fund during the FY 2017-18. bserved that short creation of 3. As per the books and records available to us, we have o2 -18. Further, No Liability liability of TDS amounting to Rs. 149,339/- during the year 2017 was created for the same in the in the books as on 31st March, 2017. Hence, a liability has been created for the amount of Rs. 12,143/- after adjusting the same from capital fund during the FY 2017-18. DPMU KHUNTI 1, Rs. 9,500/- added in fixed asset replacement fund from capital fund, in respect of air coolers purchased during the FY 2017-18. III Other Disclosures:- 1. The figures in the financial statements have been rounded off to the nearest Rupee. 2. Figures has been regrouped or rearranged when required. OFFICE OF THE JOINT SECRETARY CUM DIRECTOR RURAL WATER SUPPLY & SANITATION PROJECT (Drinking Water and Sanitation Department) 4" Floor, Citadel Tower, Main Road, Ranchi, Pin-834001 Email ID- Ihakhn JL oldbankpreck, : n LeterNo&tSt> t~tVs A anchiiDate:- A40-kl Management Assertion Letter To K.C.Tak. & Co. Chartered Accountants 1, New Anantpur, Ranchi This assertion letter is provided in connection with your audit of the financial statements of the National Rural Water Supply & Sanitation Project for Low Income States (Near Nirmal Pariyojna), Jharkhand State Water & Sanitation Mission Society (JSWSM) for the year ended 31st March 2017.We acknowledge our responsibility for the fair presentation of the financial statements in accordance with the cash basis of accounting followed by the Government of India, and we confirm, to the best of our knowledge and belief, the following representations made to you during your audit * The project financial statements are free of material misstatements, including omissions. * Project funds have been used for the purposes for which they were provided. * Project expenditures are eligible for financing under the Loan/Credit agreement. * There have been no irregularities involving management or employees who have a significant role in internal control or that could have a material effect on the project financial statements. * Procurement procedures as prescribed for the project have been followed. * We have made available to you all books of account and supporting documentation relating to the project. * The project has complied with the conditions of all relevant legal agreements, including the Financing Agreement, the Project Agreement, the Project Appraisal Document, the Minutes of Negotiations, and the Borrower's Project Implementation Plan. Joint Secretary -cum- Dir&0tor, Rural Water Supply & Sanitation Project Drinking Water & Sanitation Department. Jharkhand, Ranchi.