Meghalaya-Prog.Pdf
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-"'I:. ; ;'.;'t &' . ,~ ~ ~ .,,..,,. sr> i ./'J, ··-,r ~-- ~-. ""·-'!-. $ • - . ) ... --·· •..• '!,_§ ""--· - . ... j1i It:'. '.".'.'!' C Fa A R T E R E D .A C C <> l..I ~ T ,·'\. ~ T S .CA______ /I .. Public Disclosure Authorized Independent Auditor's Report To, The Empowered Officer Meghalaya State Rural Roads Development Agency, Lower Lachumiere, Shillong-I Report on Financial Statements We have audited the accompanying consolidated financial statements of PROGRAMME Public Disclosure Authorized FUND (PMGSY- Pradhan Mantri Gram Sadak Yojana) of Meghalaya State Rural Roads Development Agency, Shillong, Meghalaya which comprises the Balance Sheet as at March 31, 2018, Receipts & Payments Account for the year ended on that date, and ' a summary of significant accounting policies and other explanatory information. •. Management Responsibility for Financial Statements: Management is responsible for the preparation of these consolidated Financial Statements that give a true and fair view of the financial position, financial performance of the PROGRAMME FUND (PMGSY-Pradhan Mantri Gram Sadak Yojana) of Meghalaya State Rural Roads Development Agency, Shillong, Meghalaya which Public Disclosure Authorized comprises the Balance sheet as at March 31, 2018, Receipts & Payments Account for the year then ended in accordance with accounting principles generally accepted m India. This responsibility also includes maintenance of adequate accounting records with guidelines for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgements and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. Public Disclosure Authorized Head Office : Choice House, Shree Shakambhari Corporate Park, Plot No. 156-58, J. B. Nagar, Andherl (East), Mumbai - 400 099. Tel. : +91 22 6707 9444- Fax: +91 226707 9959 - Email: [email protected] Guwahati Office: 1st Floor, Sagar Bizplex, Near Nikon Showroom, Bora Service ,Lachitnagar,G.S.Road, Guwahat - 781007 Assam Offices : New Delhi I Jaipur I Ahmedabad I Kolkata I Bengaluru I Hyderabad I Patna I Bhopal I Ranchi I Chandigarh I Raipur =:'\.TCt iA Associ,1'.\.--i-Es C T1 .-'". R 'T E R E D .A. ...... C <> L7 ~ T .. , ~ T S CA____ /J Auditor's Responsibility: Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the rules made thereunder. We conducted our audit in accordance with the Standards on Auditing issued 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 assurance about whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts 11 and disclosures in the financial statements. The procedures selected depend on the auditor's judgement, including the assessment of the risks of material misstatements of the financial statements, whether due to fraud or error. In making those risk assessments, we have considered the internal control relevant to the preparation of the financial statements of Programme Fund-Pradhan Mantri Gram Sadak Yojana (PMGSY)that gives a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Company has in place an adequate Internal financial Control System over Financial Reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by those in charge of governance of the schemes, 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 qualified audit opinion. Opinion In our opinion and to the best of our information and according to the explanations given to us, except for the possible effects of the matters described in the Annexure- 'A' to this report, we certify that : ... Head Office : Choice House, Shree Shakambhari Corporate Park, Plot No. 156-58, J.B. Nagar, Andheri (East), Mumbai-400 099. [email protected] • Teslt. : +9122 6707 .9 444- Fax: +.9 1226707 9959- Email: ---~- --·------- -~ Guwahat1 Office: 1 Floor, Sagar Bizplex, Near Nikon Showroom, Bora Service ,Lachitnagar,G.S.Road, Guwahat- 781007 Assam Offices : New Delhi I Jaipur I Ahmedabad I Kolkata I Bengaluru I Hyderabad I Patna I Bhopal I Ranchi I Chandigarh I Raipur ,.":-r<> i.A & Assc)ciA-1'-ES C I I A R '"l E R E D A. C C <> V :-,..; T /\. :-,..; T S * • Funds received by MSRRDA from government of India have been used in accordance with the conditions as laid down in the PMGSY guidelines/ Operational Manual/ Financial management manual and only for the purpose for which the funds were provided. • All funds have been used in accordance with the relevant financing agreements, with due attention to economy and efficiency, and only for the purposes for which they were provided. • All expenditure, including procurement of goods and services, have the necessary supporting documentation and have been incurred in accordance with Government rules and relevant financing agreement. • Funds transferred to PIUs' for incurring expenditure under the project are used for the purposes intended. • The aforesaid Consolidated financial statements along with notes thereon: i. give a true and fair view in conformity with the accounting principles generally accepted in India of the state of affairs of Programme Fund• Pradhan Mantri Gram Sadak Yojana (PMGSY) as at 31st March 2018, ii. the Receipts & payments Account appears true and correct for the year ended on that date. For S K Patadia & Associates Chartered Accountants >; ,<f• ~"~~~~ .e. .r,.-."T, "):co Arun Poddar 1c 1$ ~,'9 ~..... (Partner) ~~~ .. ,,cc~~ 4 Membership No - 134572 · ,D , 1., Dated: 13th December 2018 Firm Registration No -112723W Place : Guwahati (Statutory Auditors) Head Office : Choice House, Shree Shakambhari Corporate Park, · Plot No. 156-58, J. B. Nagar, Andheri (East), Mumbai - 400 099. • Te(; : +91 22 6707 _9444 - Fax: +91 226707 9959 - Email : lD.fo(ivskpJJjp_Qi,1.i..'} Guwahat1 Office : 1 Floor, Sagar Bizplex, Near Nikon Showroom, Bora Service ,Lachitnagar,G.S.Road, Guwahat - 781007 Assam Offices : New Delhi I Jaipur I Ahmedabad I Kolkata I Benga_luru I ~yderabad I Patna I Bhopal I Ranchi I Chandigarh I Raipur 4-..--0 i.A Assoc11~TEs c· I I A R --.- E R E I> A. '-:: <.:: <> L ::-,..; --r A, ::-,..; ..... s .. Notes on Accounts and Significant Accounting Policies: 1. The previous year's figures have been arranged, regrouped and reworked and where necessary, Accounting and Financial Statements have been · prepared on the basis of guidelines issued by NRRDA for PMGSY accounting manual. 2. The Balance Sheet & Receipts & payments Account is a consolidation of the MSRRDA and Seven DPIU's covering the entire state. 3. The Accounts follow the double entry system of Accounting and the formatting of the accounts is prescribed by NRRDA. • 4. No Income and Expenditure has been prepared because expenditure from the fund is entirely for creation of assets. Receipts and payments and Balance Sheet have been prepared in accordance with PMGSY guidelines. 5. The figures of the accounts for the previous and current year are progressive as per the requirements of NRRDA and guidelines for preparation of Program Fund Account. 6. As per accounting manual, PMGSY do not presently provide for any depreciation on roads . • Head Office : Choice House, Shree Shakambhari Corporate Park, Plot No. 156-58, J. B. Nagar, Andheri (East), Mumbai-400 099. Tel. : +91 22 6707 9444- Fax: +912267079959- Email: inforroskp,itodia.in Guwahati Office: 1'1 Floor, Sagar Bizplex, Near Nikon Showroom, Bora Service ,Lachitnagar,G.S.Road, Guwahat- 781007 Assam Offices : New Delhi I Jaipur I Ahmedabad I Kolkata I Bengaluru I Hyderabad I Patna I Bhopal I Ranchi I Chandigarh I Raipur Meghalaya State Rural Roads Development Agency: Lower Lachumiere: Shillong PROGRAMME FUND .. ANNEXURE-A 1. In respect of completed roads, Completion certificates are not forthcoming in all cases. Documents such as bill, invoices etc. in support of payment to Contractors are not maintained in proper manner to support verification of payments with ease and in some cases are not complete in all respects. Opening balances of amounts paid up to the end of previous year on account of running bills does not match with balance of bills drawn up on DPIU as has been made available to us. In order to undertake proper safeguard of policies of PMGSY, Road Completion and Ageing Register needs initiation. 2. There appears no m~_c_:h_fL..nism in place employed by the DPIU for determination of ·- - - liability for unb--illed -·-W-- ork-In-progress at the year end and the work-in-progress is restricted to running