Para 10.19 — MSO
Original Rule Text
SUSPENSE ACCOUNTS
RESERVES AND RESERVE FUNDS 10.19 As mentioned in paragraph 4.15.1 there exist a number of Reserves and Reserve Funds in the Deposit Section of the accounts of the Union and State Governments which have been created for specific and well-defined purposes and are fed by contributions or grants from the Consolidated Fund of India or the Consolidated Fund of a State or from outside agencies. The functions of the Accountant General in relation to the transactions pertaining to such funds are described below:-
(1) It should be seen that the transactions are classified and accounted for according to the principles laid down in paragraph 4.15.1 (2) It should be seen that these transactions conform to the rules or orders governing the administration of each Fund made by competent authority. (3) The balance at the close of the year standing in the account of each Fund should be verified. Where the whole or any part of the balance of a fund is invested, the instructions contained in paragraph 10.16 should be observed.