Tuesday, December 27, 2016

GENERAL KNOWLEDGE 2016

DEAR FRIENDS I HEAR THAT MANY OF THE ASPIRANTS TO LDCE TEND TO FAIL BECAUSE OF GK AND GENERAL ENGLISH.
PLEASE FOLLOW THE FOLLOWING BLOG FOR GK.
http://www.gktoday.in/

PLEASE FOLLOW THE FOLLOWING BLOG FOR GENERAL ENGLISH
https://gradeup.co/preparation-tips-for-general-english-i-62bf2372-0e0c-11e6-a079-9a729d9c5d69

Sunday, December 18, 2016

Link among Stores, Workshop and Divisional Revenue Budget



INTEGRATION OF WORKSHOP ACCOUNTS WITH STORES ACCOUNTS:
INTEGRATION AT THREE LEVELS
1. WORKSHOP ACCOUNTS & STORES ACCOUNTS
2. WORKSHOP ACCOUNTS & GENERAL BUDGET
3. STORES ACCOUNTS & GENERAL BUDGET
WORKSHOP ACCOUNTS & STORES ACCOUNTS:
The WMS top sheet shows the debits and credits thus
Debit side credit side
• LABOUR DRF, DF
• STORES CAPITAL
• DP REVENUE
• MISC HOME RLY SHEDS
• FOREIGN RLY

Stores budget credit side

Issues to workshop (WMS)

The debit in the WMS budget to tally with the credit in the stores budget
Credits from WMS to Stores budet debit
Debit side credit side
• LABOUR DRF, DF
• STORES CAPITAL
• DP REVENUE
• MISC HOME RLY SHEDS
• FOREIGN RLY
Manufactured stores
Stores budget
Debit side

Manufactured stores

The debits in the stores budget to tally with the credits in the WMS budget
Returned stores
Debit side credit side
• LABOUR DRF, DF
• STORES CAPITAL
• DP REVENUE
• MISC HOME RLY SHEDS
• FOREIGN RLY
Manufactured stores
Returned stores
Stores budget
Debit side

Returned stores
The debits in the stores budget to tally with the credits in the WMS budget
WORKSHOP ACCOUNTS & GENERAL ACCOUNTS:
Debit side credit side
• LABOUR DRF, DF
• STORES CAPITAL
• DP REVENUE
• MISC HOME RLY SHEDS
• FOREIGN RLY
Manufactured stores
Returned stores
DIVISIONAL budget
Debit side
Repairs activities

The Repairs activities debits in the divisional budget to tally with the division wise work done statement in the WMS(WGR)
The bills are raised as divisional bills from W/PER to respective divisions for acceptance. On acceptance, WMS will be credited. In the transactions pertaining to divisions, the credit is afforded to WMS as soon as the work is completed, the these works are carried out in the workshop only after the acceptance by the divisions
The divisions will seek funds under demand no 5 ( repairs and maintenance of locomotives) and demand no 6 (repairs and maintenance of carriage & wagons)

STORES ACCOUNTS & GENERAL ACCOUNTS:
GENERAL BUDGET:
DEBIT SIDE CREDIT SIDE
Issues
To Workshops – WMS
To works – Demand No 16
To Revenue other than fuel
To Revenue Fuel

STORES BUDGET
Debit side credit side
Receipts issues
WMS BUDGET
stores

Thursday, June 30, 2016

SOUTHERN RAILWAY - AFA (70%) EXAMINATION - 2016

SOUTHERN RAILWAYS
EXAMINATION FOR SELECTION FOR THE POST OF ASST FINANCIAL ADVISOR(70)
DT: 24.06.2016                              TIME 3.00 HOURS                              MAX MARKS 150

ANSWER ANY FIVE QUESTIONS. ALL QUESTIONS CARRY EQUAL MARKS
1 a) IRFC, ECoR, MRVC, IRCA, RSPB, EBR/IF, PPP, GASAB, NEFT, GAPP, NAIR, RLDA, RTGS, NPS, ARPAN, NIC, BIS, DFCCIL, IRCTC, NFR                             (15 X =15 MARKS)

 b) i. how many Regions are there under the OL Act
     ii. Name the regions
    iii. In which region does Southern Railway fall?
     iv. What steps would you suggest for promoting Raj Bhasha in S Rly?                  (15 marks)

2. a) Name the seven mission  areas of IRs outlined by the Hon MR                (7 x2 = 14 marks)
    b) Discuss Mission Zero Accident or Mission beyond Book keeping                    (16 marks)

3. Discuss NPS in detail                                                                                             (30 marks )

4.a. Write Short Notes on any Three of the following
     i. Single tender ii DRF, iii. Operating /ratio iv. Turn Over Ratio v. Gauge Conversion
                                                                                                                        (3 x 5 = 15  marks)
  1. What are the different funds of the railways?                                                     (5 marks)
  2. Discuss capital as source of fund                                                                      (10 marks)

5 Distinguish between the following                                                              (  3 x 10 = 30 marks)
a.      EBR/IF and EBR
b.     Demands Recoverable and Demands for Grants
c.      Admitted and disputed debits

6. a) What is meant by Statutory Audit . What is Draft Para ? Expand C&AG
                                                                                     (15 marks)
  b) What is Traffic Suspense ? What are the items that constitute Traffic Suspense?
        Give your suggestions to reduce traffic suspense                                                (15 marks)
7. Write notes on the following
     a) Nuclear supply group b) foreign direct investment c) Euro 2016
                                                                                                                        (3 x 10 = 30 marks)
8. a) Expand WMS. What do balances under WMS reflect? How can the balances be reduced?
                                                                                                                                     (15 marks)
  b) What is shop floor inventory? Discuss just in time inventory strategy. Will this work for the railways                                                                                                                        (15 marks)

9 a) how is financial control over stores expenditure exercised by the FA&CAO’s office?     
                                                                                                                                     (15 marks)
   b) How is procurement is done ? explain with example
                                                                                                                                     (15 marks)
10. What is your vision of Indian railways in ten years?                                             30 marks)


                                      ooo oooo

Thursday, June 2, 2016

EXPENDITURE ACCOUNTS - ESTIMATES

ESTIMATES & CHECK OF ESTIMATES

Definition:
“Estimate is an assessment of quantum of labour, material and other services required to complete a work and it is expressed in monetary values”.

Importance of cost:
As the estimates are prepared well in advance i.e. 18 months prior to sanction, every care must be taken to obtain the most accurate and reliable data on the prices of materials and the cost of labour. Any error in obtaining the exact rates would vitiate the estimate to nearly 100 % and result in bursting of budget provisions. Hence the following sources are mostly tapped to obtain the ruling costs so as to make an estimate most reliable and accurate.
Arrival of costs – most reliable and affordable
Labour                                                               Stores
  1. CPI                                                      1. Steel      M/s SAIL
  2. WPI                                                     2. Cement – ACC rates
  3. Govt. of India Bulletin                        3  Metals – London Metals
  4. RBI Bulletins                                      4. Electrical & electronics -IEEMA
  5.                                                             5. Last Purchase Rate
  6.                                                             6.  Budgetary quotations
  7.                                                              7. SOR
  8.                                                              8  

Kinds of estimates-Engineering:
1)     ABSTRACT ESTIMATE - 702 E,
2)     DETAILED ESTIMATE- 707 E,
3)     SUPPLEMENTARY ESTIMATE - 707 E,
4)     REVISED ESTIMATE - 708 E,
5)     PROJECT ABSTRACT ESTIMATE - 709 E,
6)     PROJECT DETAILED ESTIMATE -710 E,
7)     COMPLETION ESTIMATE - 713 E

ABSTRACT ESTIMATE is prepared in order to enable the authority competent to give administrative approval to the expenses to judge the necessity, utility and Financial prospects and to enable the authority to gauge the magnitude and Nature of the work contemplated. These estimates avoid the delay and expenses Of preparing estimates in detail at a stage when the general desirability of the work Has not been decided. Para 702 E

DETAILED ESTIMATE is prepared to secure technical sanction to the work after the administrative approval is accorded. These estimates are prepared In sufficient details to enable the competent authority to ensure that the cost Indicated in the abstract estimate in not exceeded. The work is taken up only After the sanction of this estimate.   Para 707 E

PROJECT ABSTRACT ESTIMATE is prepared after the Final Location is completed.  This is submitted to Railway Board showing the abstract cost of the project under Different sub heads of allocation showing further the unit cost and rate of   Expenses per kilo meter of the line for the whole line and sections of the line.  This is accompanied by i.)an abstract estimate of junction arrangements
ii.) A narrative report of explaining the proposed expenditure under capital heads like Workshop, Stores, Buildings, Plant & Machinery etc
iii. Detailed estimate for the civil construction.
This estimate is submitted for purposes of Parliamentary and Administrative Approval and necessary funds for taking up the work are allotted to the Railways  Based on these estimates.  Para 702 E

PROJECT DETAILED ESTIMATE is detailed working estimates of all works  Included in the project and is prepared after a careful examination of all  Various details of construction involved in the project. Once this estimate is  Prepared preparation of further working estimates should not arise except  Some supplementary or revised estimate becomes necessary. This is prepared and submitted to the competent technical authority for his sanction.  Details of junction arrangements, main line and branch line estimates,  Divisions of project including estimates for the alternative alignments and  For the length with it would supersede if adopted to be furnished. It should be  Split geographically based on the sections likely to be opened for traffic in stages

SUPPLEMENTARY ESTIMATE is prepared for any item of work which ought to have been  included in  the first instance in an estimate already sanctioned but has not been included, which it is found later should be  considered as being  a part of or a phase of an estimate already prepared and sanctioned, if it cannot  be met out of contingencies. Such  estimates should be prepared in the same form and the same degree of detail as the main detailed estimate and for all purposes  be treated as part of the detailed estimate.

REVISED ESTIMATE As soon as it becomes apparent that the expenditure on work or a project is likely to exceed the amount provided for in the detailed estimates or construction estimate (including supplementary if any) a Revised Estimate should be prepared and submitted to competent authority. It should unless otherwise ordered by the sanctioning  authority, be prepared in the same form in  the same degree of detail as the original estimate. It should be accompanied by  a comparative statement showing the excess or savings under each sub head a/c against the latest sanction. 

COMPLETION ESTIMATE is prepared in super session of construction estimate This estimate shows in a tabular form the following particulars:
1. Amount of sanctioned estimate
2. Actual expenditure
3. Commitments on that day 
4. Anticipated further outlay 
5. Total estimated cost
6. Difference between sanctioned estimate and estimate cost. 
713. Completion Estimate. A completion Estimate is prepared in supersession of a construction estimate as provided in paragraph 1701. It should show in a tabular form (E. 713) the following particulars in respect of all the works included in the construction estimate :
·        (i) amount of sanctioned estimate;
·        (ii) actual expenditure on all works up to the date of the construction estimate;
·        (iii) commitments on that date;
·        (iv) anticipated further outlay;
·        (v) total estimated cost; and
·        (vi) difference between the sanctioned estimate and the estimated cost.
An abstract of the completion estimate showing the above particulars against the various heads of capital classification should be submitted for information or sanction, vide paragraph 1703 to the Railway Board together with brief explanations for excesses of not less than Rs. 10,000 or 10 per cent over the provision under sub-heads of account and for savings of 20 per cent or one lakh, whichever is less, occurring under any main head of account. Provision for further outlay should be made in completion estimate only for those works which are in progress or completed on the date of closing of the construction estimate. All works not started on that date should be dealt with separately as open line works both as regards estimate and expenditure. In forwarding, therefore, estimates for sanction for works in connection with new lines opened, it should be clearly indicated whether the cost of the work is chargeable to Capital Construction or Open Line Capital.
Note. The completion estimate of an unremunerative construction project chargeable to Development fund will be prepared in the same detail as the original construction estimate using the various heads of capital classification for the purpose.

Check of estimates:
1.     Propriety of expenditure
2.     Incidence and classification of charges
3.     Existence of budget provisions
4.     Freedom from errors and omissions
5.     Competency of sanction
As a Financial Advisor, it is the duty of AO to see
i.          The expenditure proposed is to be charged to the railway funds is properly and legitimately chargeable
ii.          That proper financial justification is forthcoming in all works requiring financial justification,
iii.          That in the case of estimates for the staff quarters and other rent returning buildings the anticipated yield of rent as shown in the Rent Statement will not have the effect of reducing the return on the cost of each class of quarters to less than the dividend rate per annum.
Incidence and classification of charges should be verified in an estimate according to rules of classification of expenditure as provided in the Revised Classification ( FII). In the verification certificate AO should indicate the correct allocation and the same is verified.
Existence of budget provision. The provision in the budget for the proposed work should be verified with reference to the sanctioned allotment for the year. Errors and omissions should be got vetted by the executives where needed a check note indicating the errors and omissions should be enclosed to the estimate at the time of verification.
Competency of sanction The powers vested with the sanctioning authority should be verified with reference to the extent Schedule of Powers and a clear indication regarding the authority competent to sanction the estimate should be given in the estimate. A certificate of accounts verification I the following form is to be appended to “incidence and allocation verified subject to the check note attached. This requires the sanction of …………………….”

Minor points:
  1. the particulars of work should be given in sufficient detail and proper distribution should be made between cash and stores
  2. the allocation of each item is given and an abstraction of allocation is made
  3. that all incidental expenditure that can be foreseen has been provided for in the estimate
  4. that in the case of renewal, replacement or dismantlement, the credit for the released materials has been provided (CRRM)
  5. that in the case of a work to be done for other Govt depts., or private bodies provision has been made for necessary departmental charges
  6. that in the case of estimates for staff quarters and other rent returning buildings a Rent statement is enclosed
Exemption:
No work can be started without an estimate duly approved by the administrative authority. However, works started on Urgency Certificate - for saving life and assets, for establishing through communication, floods and breaches – are exempted.
Standardization:
For construction of buildings CPWD has issued detailed instructions in “Green Building Code” for official and welfare buildings taking into account the environment and ecology preservation. Though the initial cost is high, the recurring expenditure will be reduced to minimum.
Building cost index: It is used to assess the expenditure
D&G Charges: It is calculated as 8% to 7%. Posts created are to be need based and not redundant.
Contingency: To meet unforeseen expenditure beyond the control of administration 3 % of the total value of the estimate is earmarked.
ROB/RUB: No work is to be started unless and until 50% the value of the work is deposited by the State Govt.
Deposit works: Any deposit work can be started only when the deposit money is remitted to the railway in advance including 12.5 % deposit charges.  E.g. Way lease charges for BSNL cables and HT wires of TNEB. The special charges are to be levied for “under line block condition” and “non- lines block condition”.
Estimates for wagons and coaches: Labour and Stores costs are to be estimated. Next shop oncost and general oncosts are estimated. Finally proforma oncost for works done for other Govt Dept/Port railways/outsiders is charged.

COMPLETION REPORT:
C R of a work or project is prepared by the executive dept in the prescribed format with a view to comparing the actual expenditure on the works, sub work wise with the latest sanctioned estimate/ completion estimate. Where ever more one dept has executed the work, part CR can also be prepared in respect of their sub works for which separate sub estimates are available. Where ever the expenditure of the work exceeds 10 % with reference to the estimated cost, under each cub work explanation for the same should be given.  Similarly, for any savings exceeding 20 % an explanation is given.
Before the CR is drawn, the executive should ensure that all charges and receipts for the work have been fully booked to the work account. In order to help the executives in this direction, the work registers are viewed in the accounts office and where ever no bookings occur continuously for more than 3 months, such works are reported to the executive concerned  thru” work suspended statement”. Based on the statement, the concerned executives should take speedy action in collecting further charges and receipts against the work so that CR may be drawn.

In case of works for which no revised estimates are prepared to cover the variations in the cost, the same shall be also regularized under competent sanction through CR. The CR prepared with the help of the postings in the works registers and they are submitted to the AO where the following points are verified.
1.that the CR has been prepared in the prescribed format
2.that the entries made therein agree with those mentioned in the concerned works registers
3.that the credit for released material as provide for in the estimate has been adjusted against the work concerned
4.that the materials originally charged to the work but not used up has been returned to stores or transferred elsewhere duly affording necessary credits to ht work
5.that the posting of all final bills of supply or contract relating to the work have nee made in the works register
6.that satisfactory explanation are given for excesses of savings
7.That necessary certificate that “addenda and corrigenda” to the list of building have been issued to given in the CR.
In case of deposit works a certificate that all charges have been fully booked should be entered in the register of deposit works or sidings. After checking the CR as above the same are certified for sanction of the competent authority duly indicating the authority in terms of Schedule of Powers. The CR is then suited to the competent authority for sanction and on receipt of the sanctioned CR the same is noted in the separate Register of Completion Reports Sanctioned in the estimates register against the concerned work also in the works register.
Even in the case of work where work are not finished but there is no reasonable prospect of completing the works in the near future, the Accounts of the work should be closed as in the case of completed works and CR drawn and submitted to the competent authority who has accorded the administrative approval to the work duly certified by accounts.




CHAPTER XVIl
COMPLETION OF RAILWAY PROJECTS
Projects costing over rupees one crore
Completion Estimates
Date of opening
Closing the Accounts of a Project
Project Completion Report
Form of Completion Report
Financial Prospects
Completion of Works
Accounts Verification of Completion Reports
Completion report of Unfinished Works
Completion Statements
Expeditious Closing of Accounts of Works
Entry in the Register of Works
Adjustment of charges and credits relating to completed works
Completion Report for Land
Docketting investment cost, Assets Register
1701. Completion- Estimates.--In the case of Railway Projects costing over rupees one crore, the Construction or Abstract Estimate should be closed at the end of one of the first three financial half years after the date of "opening" (as defined in para 1702) as may be convenient and a "completion estimate" prepared (see paragraph 713). The completion estimate is a "stock taking estimate". and all works not started on that date are excluded from the scope of the project and are to be dealt with separately The financial half year ir. which the project is opened should be excluded for determining the date. of closing of project estimate and preparation of completion estimate. The completion estimates should invariably be signed by or on behalf of the Financial Adviser and Chief Accounts Officer, and by or on behalf of competent executive authority. if this is sanctioned at Railway's level, the sanctioning authority's designation should be indicated.
1702. The date of "opening" in the case of new line should be held to be the date of opening for passenger traffic of the whole line included in a construction estimate. If different sections of a project Are likely to be opened at intervals exceeding one year separate completion estimate should be submitted for each section. In the case of lines justified solely for the movement of goods traffic for e.g., ore traffic the date of" opening" shall be the date on which the line is opened to goods traffic. In the case of open fine projects the date of "opening" should be held to be the date on which the project fulfils the purpose for which it was sanctioned. In the case ot doubling or quadrupling of lines or provision of third line the purpose for which the project has been sanctioned will be deemed to have been fulfilled when the new line is opened for goods traffic.
1703. Completion estimates, which involve any material modifications (see paragraph 1109) in a project sanctioned by the Railway Board, or an excess over the estimate beyond the powers of sanction of the General Manager (vide paragraph 748) should, after verification by the Accounts Officer-be submitted for the sanctioned of the Railway Board. Completion estimates which involve no such modifications or excess may be sanctioned by the General Manager, the Railway Board being informed, when sanction has been accorded, an abstract of the completion estimate being at the same time forwarded for the information of the Railway Board. The completion estimate should reach the authority competent to sanction it, within four months, after the close, of !he financial half year upto which it shows actual expenditure.
1704. Closing the Accounts of a Project.--Those items of work which were in progress at the time of closing of Construction of Abstract estimate should be got completed and the accounts of the project should be closed as soon as possible. Executive Engineers in charge of project should therefore take prompt action to bring to account all charges and credits pertaining to the projects. They should before closing the accounts of a project, take steps to liquidate all outstanding liabilities, clear suspense balances, pay up all outstanding contractor's claims and dispose of all surplus stores and tools and plants returned from works. After all charges and credits relating to the project have been booked  in the accounts of the project a Completion Report of the project should be prepared.
1705. Project Completion Report. -Its compilation and object of submission. -The object of a Completion Report is to compare the cost of work actually constructed with those provided in the last sanctioned estimate. The completion report of a project duly verified by the Accounts Officer in accordance with para 1712, should be submitted to the Railway Board within 18 months after the end of the financial half year in which the completion estimate is submitted. It should state the expenditure in the same details as the abstract estimate sanctioned by the Railway Board and should indicate any material modifications thereto. In addition it may contain such other information as would in the opinion of the Railway Administration be of interest to the Railway Board.
1706. Form of Completion Report. -The Completion Report should be prepared in the following form and brief explanations should be furnished for: -
(i)            excess of not less than 10 per cent or Rs. 25,000 whichever is less over the estimated provision under each sub work;
(ii)            saving of not less than 20 per cent or Rs.1 lakh whichever is less, occurring under any sub-work.
Note. - The Divisional Superintendent/Deputy Chief Engineer concerned may be empowered by the General Managers to approve the completion reports of works within the General Managers competence in the works Registers if variations are within 5 per cent of the sanctioned estimate.
Form E. 1706
COMPLETION REPORT FOR THE WORK................
Particular Heads of Account and Description of works
Amount of Estimate with reference to authority for sanction
Actual Expenditure
Difference
Remarks & Explanations
Excess
Saving







1707. Financial Prospects. - In the case of railway lines newly constructed the completion report should be accompanied by a comparative statement showing the financial prospects of the line as anticipated and as updated with reference to the completion cost. If at the time of preparation of completion report, the earnings upto that period have undergone radical changes from original anticipations, this factor should also be taken into account while working out the financial prospects.
 Works Costing Rupees One Crore and less
1708. Completion of Works. - In common with works costing over Rupees one crore, a work or scheme costing less than this amount should be considered as completed when it fulfils  the purpose for which it when sanctioned, was intended, and when there has been no expenditure thereon for three months thereafter. All outstandings debits and credits pertaining to a completed work should as a rule be adjusted in the account of the work within three months of the date of completion. The accounts of a completed work should be closed six months after the date of completion and a completion report of the work drawn.
1709. A completion report for works costing Rupees one crore and less should subject to the detailed instructions issued by the Railway Administration, be prepared in the same form as that for works costing over Rupees one crore. It should compare the actual expenditure incurred with the sanctioned amount and should give under each sub-work brief explanations of all excesses and savings of over 5 per cent or Rs.10,000 whichever is less. The authority sanctioning the estimate `may prescribe any additional information to be submitted alongwith the completion report.
1710. A certificate to the effect that necessary agenda or corrigendato the list of Buildings have been issued (see paragraph 1977) should be recorded on all completion reports for staff quarters and other buildings. A certificate to the effect that the necessary entries have been made in the siding register (Form E. 1840) and the register of deposit works (Form E. 1852) should be recorded on all completion reports relating to assisted sidings and deposit works.
1711. A Completion report duly verified by the Accounts Officer should ordinarily be submitted to the authority who accorded the administrative approval to the work for information or regularization. in respect of structural and track renewal works costing over Rupees ten lakhs included ifi the sanctioned budget with the prior approval of the Railway Board and works sanctioned out of turn with the administrative, approval of the Railway Board being beyond the General Managers' powers of sanction the completion reports may be finally dealt with by the General Managers except (a) when they involved an excess beyond the General Manager's powers of sanction or (b) when a material modification is involved. For works costing rupees one crore and less the completion report should be submitted within six months of' the completion of work. In the case of works on which no expenditure is recorded for three consecutive months, the Accounts Officer should call for the completion reports. if the works are incomplete the executive officer should advise the Accounts Officer of the probable dates of completion and submission of of the completion reports. Abnormal delay in the submission of reports by the executive officers should be brought to the notice of the Head of the Railway Administration by the Accounts Officer.
1712. Accounts Verification of Completion Reports. -Completion Reports should be checked in the Accounts Office to see that they have been prepared in the proper form and that the entries therein correspond with the particulars of the sanction and booked outlay. Special Attention should be devoted to the following points.
·        (a) Checking the correctness of postings of aII final bills relating to a work in the account of the work;
·        (b) test-checking the correctness of a percentage of other items
·        (c) seeing that satisfactory explanations are forthcoming for excesses and savings in the account;
·        (d) seeing that all materials charged to the work or works; but. not used up, have been returned to stores or transferred elsewhere and. the account of the work credited with their value;
·        (e) seeing that credit for the released materials. provided for in the estimate has been adjusted against the work concerned.
All completion reports should be "verified" by the Accounts Officer as correct. The verification certificate of the Accounts Officer should state the authority competent to sanction the outlay shown in the report.
1713 Completion Reports of Unfinished Works.-If for any reason a work on which expenditure has been incurred is stopped, and if there is no reasonable prospect of completing it in near future, the account of the work should, as in the case of a completed work, be closed and a completion report drawn and submitted to the authority which accorded the administrative approval to the work, for information. In the case of structural works, other than Track Renewal works, costing more than Rupees one crore each for which administrative approval of the Railway Board is obtained by the submission of separate Abstract Estimates not withstanding their specific inclusion  in sanctioned budget, the completion reports in such case should be submitted to the Railway Board, duly verified by the Financial Adviser and Chief Accounts Officer.
1714. Completion Statements As a general rule, completion report should be submitted in respect of each completed work. Nevertheless, in the case of works the expenditure on which is within the competence of the head of the railway to sanction a formal completion report on the prescribed form need not be prepared. In such cases all the information required in the Completion Report Form, the certificate of the Accounts Officer and the sanction of the competent executive authority may be recorded in the register of works under the relevant accounts, Completion Statements (Form E. 1714) showing the following information being prepared and recorded under the orders of the competent executive authority, after verification by the Accounts Officer :-
·        (i) Reference to estimate.
·        (ii) Amount of sanctioned estimate.
·        (iii) Actual expenditure as finally booked.
·        (iv) Brief explanation of excess or saving.
Note.-The provisions of this paragraph do not apply to works, for which detailed estimates are not required to be prepared.
1715. Expeditious Closing of Accounts of Works.-The account of a work costing rupees one crore and less should not kept open beyond three months of the date of its completion. Efforts should be made to bring to account ail liabilities and credits pertaining to the work by liquidating the former and realising the latter within that period. If a contractor's claim could not be finally settled within that period (cf. paragraph 1704) whatever the railway considers as legitimately due to the contractors should be adjusted by debit to the work and credit to "Deposit" and the account of the work finally closed. If the disposal of released materials is likely to delay the closing of the account of a work, credit should be afforded to work on the basis of estimates by the Stores Department in consultation with the Engineer. Should the actual payment made or credit realised differ from that already booked, such difference should be dealt with in accordance with paragraph 1717 and 1718 below.
1716. Entry in the Register of Works.-When a work is completed and its accounts closed a double red ink line should be ruled below the last entry in the Register of Works and a note made as under :
Work completed.
Completion report submitted on............................................................................. .......................
General Rules Applicable to all Works
1717. Adjustment of Charges and Credits Relating to Completed Works.(1) If charges or credits are received for a work, the account of which has been closed, but the completion report of which has not yet been sanctioned, the account of the work should be reopened and necessary postings should be made in the Works Register against the work concerned. A revised completion report should then be prepared and submitted to the competent authority.
(2) If the charges or credits are received for a work the completion report of which has been sanctioned
·        (a) Except in the case of land, charges not exceeding Rs.10,000 should be adjusted against the appropriate head of account under ordinary Revenue Maintenance and credits not exceeding Rs.10,000 against Abstract Z-650.
·        (b) When the charge or credits exceeds Rs.10,000 or relate to land, the account of the work should be reopened and the necessary adjustments made thereunder the completion report should also be revised accordingly.
(3) In cases where the accounts of works are closed after affording estimated credit for released materials as provided in paragraph 1715 the difference between the credits so afforded and the amounts actually realised subsequently on the final disposal of such materials should not be forced into the accounts of the works by reopening them. Subsequent depreciation or appreciation. of the materials should be dealt with in the same way as fluctuations in the price of stock item.
1718. In applying the rules in the preceding paragraph care should be taken to see that:-
·        (i) In the case of residential buildings the total cost of the building is correctly noted in the list of buildings; and
·        (ii) In the case of deposit works, the actual amount spent on the work is recovered from the party for whom the work is executed, even though an adjustment is not made either in the Register of Works or in the Completion Report.
1719. Completion Report for "Land".--if, in the case of any project, there is likelihood of delay in regard to the final adjustment of charges on account of land acquisition owing to its being outside the control of railway administrations the Completion Report may be submitted in two parts, viz., one showing all expenditure on the project excluding" Land" and the other dealing with "Land". For purposes of allocation and for determining the authority competent to sanction expenditure both the parts should be treated as one Completion Report.
1720. The investment cost of all projects including buildings costing over Rs.20 lakhs should be docketed in an Assets Register, irrespective of the fact whether the project concerned is proposed to be subjected to a post project appraisal or not in form E-1720, to facilitate retrieval of information and to conduct post project appraisal if required. The information will be posted from sanctioned completion reports. When the project is executed by the Construction Organisation, the Register will be handed over as a part of the handing over records to Open Line Organisation for retention as permanent record.
Further, in the case of buildings, the information will be docketed in the Building Register in form E. 1977- For all works other than buildings and costing less than Rs.20 takhs the sanctioned completion  reports and completion estimate should be preserved for five years. The Completion Reports of other works need not be Preserved, once the information is docketed in the Assets Register or Building Register.  
Form E. 1720
ASSETS REGISTER
1.         Name of work
2.         Date of commencement
3.         Date of completion
4.            Completion report No. and date.
5.            Authority sanctioning the completion report.
6.            Completion cost.
 Note-The completion cost will indicate the break-up of cost sub-work/sub-estimatewise. Total.
7.                  Investment Schedule 
Year
Amount of investment

Capital
DRF
DF
Revenue








Total




.................................                                                   ....................................
Accounts officer                                                             Divisional Engineer
*********