AFS 2024-2025

key Aspects of AFS for Kerala Grama Panchayats 2024-25

  • Purpose: It includes the Annual Administration Report (AAR) and the annual budget, which must be presented to the Grama Sabhas.
  • Components: The statement covers the opening balance, receipts, payments, and closing balance, including specific allocations for projects.
  • Digitalization: Through systems like K-SMART, financial reporting has become digitized, integrating the Finance Management System with tax collection and payment.
  • Audit: The Kerala State Audit Department (KSAD) audits these statements to ensure accuracy, often reviewing the integration of software systems like Saankhya and Sanchay

  • BALANCE SHEET
  • CASH FLOW
  • INCOME AND EXPENDITURE
  • RECEIPT AND PAYMENT
  • TRAIL BALANCE