Para 5.11 — CAM

5.11 LEDGER OF BALANCES UNDER DEBT, DEPOSIT, SUSPENSE & REMITTANCE HEADS.

5.11.1

(a) The monthly figures posted in the various broadsheets pertaining to debt, deposit, suspense and remittance heads shall be compared with the figures of that month's transactions under relevant heads in the monthly account, to verify that the two sets of figures tally. Discrepancy if any between the two sets of figures should be analyzed forthwith to rectify the errors, like any un-posted item or a misclassification.

(b)The two heads of account viz. '7810-Inter-State Settlement' (Sector G) and '7999- Appropriation to the Contingency Fund' (Sector H) are not in the nature of debt, deposit, suspense or remittance heads and will be closed to ‘Government Account’, annually. On the other hand, the balances under debt, deposit, suspense and remittance heads are to be individually closed to ‘Balance’. However, the balances under the head '8680-Miscellaneous Govt. Accounts' will be closed annually to Govt. Account. Similarly, balances under '8675- Deposits with Reserve Bank' held in the books of Principal Accounts Office will be closed annually to Government account, but those held in the books of the CGA will be transferred to the head '8999-Cash Balance', every month.

5.11.2 The Ledger for Debt Deposit Suspense and Remittance heads closing to balance viz. those under Sectors E, F, I, J, K, and L, may be prepared half-yearly for the first six months of April to September, after the accounts of September are closed. Thereafter, it will be prepared quarterly for October to December and for January to March including March Supplementary, by using the Form CAM-40. (This will however exclude Major Heads `8675 -Deposits with Reserve Bank and ‘8680-Miscellaneous Government Accounts’ and Sector "M" of the List of Major and Minor Heads of Account). The ledger will be prepared by the PAO up to sub/detailed/object heads, as may be necessary, based on the figures of first six months and subsequently for the two quarters as mentioned above, and sent to the Principal Accounts Office by the15th October, 15th January and 15th May of each year, respectively. The amounts of balances adopted or transferred on "Proforma" basis in terms of provisions of para 19.4 of Chapter 19, will be clearly indicated in the relevant columns of Forms CAM-40 and 41. The amounts adopted by transfer

consequent to the Departmentalization of Accounts from AG, will similarly be exhibited in the Ledger of the year in which the 'Proforma' transfer was carried out.

5.11.3 The Principal Accounts Office will put together and prepare a Ledger incorporating the transactions of all PAOs under his jurisdiction. This will be done with minor head-wise details based entirely on the figures furnished periodically by the PAOs. The Ledger will then be submitted to the respective Head of Accounting Organization i.e. Pr.CCAs/CCAs/CAs (i/c) as the case may be, for review by the 20th October, 20th January and 20th May of each year. For the purposes of regular monitoring, a copy of the Periodical Statement along with the comments of the respective Head of Accounting Organization should be sent to the Finance Accounts Section of the CGA by 25th October, 25th January and 25th May every year. The comments of Head of Accounting Organization will specifically be regarding the action initiated for liquidating the outstanding balances and settling adverse balances under various Debt, Deposit Suspense and Remittance Heads. It may be checked to ensure that the progressive figures for the year tally with those appearing in the SCT, including the effect of all JEs incorporated therein. Balances under Public Sector Bank Suspense head maintained by PAOs is not required to be included in the 'Ledger', since clearance against this head (for adjustment against Reserve Bank Deposits head) of account is carried out at the level of Principal Accounts Office itself. After this, the Principal Accounts Office will prepare a sector wise abstract of balances as per the 'Ledger', in form CAM40.

What This Means

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.

Key Points

• 1Monthly broadsheet figures for debt, deposit, suspense, and remittance heads must tally with monthly account figures
• 2Discrepancies must be analyzed and rectified immediately - check for un-posted items or misclassifications
• 3Heads 7810 (Inter-State Settlement) and 7999 (Appropriation to Contingency Fund) close to Government Account annually
• 4Balances under debt, deposit, suspense, and remittance heads are closed individually to 'Balance'
• 5Head 8680 and 8675 (at Principal Accounts Office level) close annually to Government Account, not carried as balance

Practical Example

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.

Frequently Asked Questions

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.