AFS Reports
AFS Report = Annual Financial Statement Report
Basic Meaning
It’s the yearly account statement that shows how much money the Panchayat received and how it was spent during a financial year [April 1 to March 31].
What’s inside an AFS Report
1. Receipts/Income:
- Own revenue: tax, fees, rent
- Grants from State Govt
- Grants from Central Govt
- Other funds like MLA/MP fund, schemes
2. Expenditure/Expenses:
- Plan fund spending: roads, water, housing, agriculture
- Non-plan spending: salaries, maintenance
- Scheme-wise spending: LIFE Mission, MGNREGA, etc.
3. Budget vs Actual:
- What was planned in the budget
- What was actually received and spent
- Surplus or deficit at year end
4. Opening & Closing Balance:
- Money left from last year
- Money left at end of this year
Why it matters
- Transparency: People can see where Panchayat money goes
- Accountability: Audit and public can check if money was used properly
- Planning: Helps Panchayat make budget for next year