Receipts and Payments

718. The transactions of all local funds (See paragraph 362) should be recorded in the forms used for personal deposits, but must be kept quite distinct, and must pass into the cash account as deposits of local funds, and not as personal deposits.

719. The transactions of each fund should be entered in a separate column in the Treasury register which allows one column for every such fund in the district. Unless the funds are very few in number, it is most convenient to have registers and totals for municipal and Zila Parishad funds separate from those of other funds.

720. The account of a local fund at the Treasury is ordinarily a pure banking account, money being paid in and drawn out without specification of the nature of receipt or expenditure (See paragraph 364). The Treasury Officer need only see that the voucher for payment is in proper form and signed by the proper officer and that the amount does not exceed the amount at credit of the banking account.

Plus and Minus Memorandum

721. A plus and minus memorandum should be appended to the monthly accounts showing for each local fund the balance at the beginning of the month, the amounts received and credited during the month, and those paid out during the month and deducting the balance at the end of the month.

Verification of Balances

722. The balances at credit of each fund should be verified annually in the manner prescribed in paragraph 367.

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