Tuesday, September 8, 2009

MATERIAL AT SITE ACCOUNTS

MATERIAL AT SITE ACCOUNTS
For works estimated to cost each Rs 1 lakhs or Rs 3 lakhs for relaying or track renewal work in relaxation of the limit of Rs 25000/-.
for stores not used up immediately
suspense head – on receipt of materials is debited with the cost of stores and is credited with issued of materials for work
daily record of such material in form E 1737 materials obtained for work on receipt are entered under with quantity, issued note and reference – Receipts: issues of stores for consumption, the date, quantity, sub head charged are recorded under – Issues . Materials issued but surplus – Minus Issues
materials released from the work are separately recorded as receipts with date, quantity on their utilization of the works shown as issues Materials retuned to stores transferred or otherwise deposed of is shown as minus receipts
works costing more than Rs 1 lakh to Rs 3 lakhs for relaying or track renewal works- monthly Return is sent containing only those items for which there have been any receipts or issue transactions during the month.
the monthly MAS a/c returns may be followed by a complete MAS a/c return for all the items of each quarter June, September, December & March on the basis of monthly returns from sub ordinates, the Divisional Officers prepare monthly adjustments get them approved by DEN and AO for necessary adjustment
periodical verification by the executive in charge for works costing more than Rs 1 lakh to Rs 3 lakhs for relaying or track renewal a. P Way material b. other MAS which can be readily operated and distinguished from any of the description but by a different category all items verified at least once in a year.
A certificate that such verification has been carried out should together with a note as to whether or not the materials were found to be duly depreciated, be furnished on the MAS returns this is in addition to stock verification.
At the end of every financial year the AO prepares a schedule of MAS balances of works of Rs 1 lakh to Rs 3 lakhs for relaying or track renewal and review in consultation with the executive.
At the end of every month, an excess materials return should be prepared in the prescribed proforma in respect of all the completed works. These returns should show separately for materials obtained and material released, the numerical balance only of MAS i.e. those that have neither have been consumed on the work nor returned to stores, transferred or otherwise disposed of and the ate of completion of the work to which they relate. If the excess materials cannot be utilized in some other work they should be returned to stores.

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