Subject: Accountancy
A budget sheet is the statement of the annual appropriation of the budget, budget release and budget expenditures of operating level offices. It is one of the main documents, which is prepared by all operating level offices to record and report budget release and budget expenditures. It is used for controlling budget expenditures. It is prepared by such offices at the end of each month. It is prepared with the help of journal vouchers and submitted to the central level offices. It has 12 main heads and 47 subheads of expenditures. It is prepared under the prescribed format of AGF No. 8.
The main objectives of preparing budget sheet are as follows: -
Its main importance are as follows:
A budget sheet is a budgetary account to be prepared by operating level government offices. It has three parts which are described below:
Example
The following transactions of District Education Office, Kathmandu are provided to you:
B.H. No. | Budget heads | Annual Appropriation of Budget | Expenditure of Bhadra |
21111 | Salary | 5,00,000 | 40,000 |
22612 | Travelling Expenses | 10,000 | 1,000 |
22142 | Communication charges | 15,000 | 1,500 |
22311 | Office expenses | 58,000 | 2,500 |
22121 | Rental charges | 30,000 | 3,000 |
22711 | Miscellaneous expenses | 11,000 | 4,000 |
29311 | Furniture | 1,50,000 | 18,000 |
Total | 7,74,000 | 70,000 |
Aswin 1 Received a bank order and release order for the actual expenditure of the last month Rs. 70,000.
Aswin 3 Issued a cheque Rs. 1,500 to Section Officer, Mr. Nimesh as an advance for a tour.
Aswin 3 Paid Rs. 1,400 Gorkhapatra Publication for publication of a notice.
Aswin 16 Mr. Nimesh submitted the bill of travelling expenses of Rs. 1,500 and his advance was cleared.
Aswin 29 Issued a cheque of Rs.41,000 for the distribution of salary after deduction of Rs.10,000 for provident fund, Rs. 3,000 for provident fund loan and Rs.1,000 for income tax.
Required: Budget Sheet
Solution:
Government of Nepal | AGF No. 8 | |||||||||||
District Education Office, Kathmandu | ||||||||||||
Budget Sheet |
Number and Heads of Appropriation | Consumption Expenditure | Office Operation Expenditure | Capital Expenditure | ||||||||||
Appropriate Budget Heads/subheads | Salary | Allowance | Uniform | Water and Electricity Charges | Communication Charges | Office Expenses | Vehicles | Machinery and Equipment | |||||
1.01 | 1.02 | 1.03 | 2.01 | 2.02 | 2.03 | 6.02 | 6.03 | ||||||
Appropriation of the fiscal year | 138900 | 5,00,000 | 30,000 | 90,000 | 40,000 | 45,000 | 24,000 | 5,80,000 | 80,000 | ||||
Budget transfer | |||||||||||||
Date | Ref | Particulars | Total | ||||||||||
Release | 08-01 | Budget release upto Kartik | 3,75,000 | 1,60,000 | 9,000 | 40,000 | 3,000 | 11,000 | 8,000 | 1,20,000 | 24,000 | ||
08-01 | Budget release for the month of Marga | 2,56,600 | 41,000 | 2,000 | 4,000 | 1,000 | 900 | 700 | 2,00,000 | 7000 | |||
Expenditure | 1 | 08-05 | A | Uniform advance of accountant Rupak Basnet cleared | 3,000 | - | - | 3,000 | - | - | - | - | - |
(2,500) | (2,500) | ||||||||||||
2 | 08-10 | B | Petty cash fund reimbursed | 250 | 50 | - | - | 125 | - | 75 | - | - | |
3 | 08-20 | C | Vechicle purchased and paid by cheque | 1,80,000 | - | - | - | - | - | - | 1,80,000 | - | |
4 | 08-29 | D | Salary and allowance paid after deduction | 34,400 | 26,400 | 8,000 | - | - | - | - | - | - | |
Total | 2,15,150 | 26,450 | 8,000 | 500 | 125 | - | 75 | 1,80,000 |
What is budget sheet?
A budget sheet is the statement of the annual appropriation of budget, budget release and budget expenditures of operating level offices
State the objectives for preparing budget sheet.
The main objectives of preparing budget sheet are as follows: -
What are the importance of budget sheet.
A budget sheet is a very important statement for operating level government offices which is used for controlling budget expenditures. Its main importances are as follows:
Explain the parts of budget sheet.
A budget sheet is a budgetary account to be prepared by operating level government offices. It has three parts which are described below:
What is annual appropriation part of budget sheet?
Annual appropriation part is the first part of a budget sheet which is placed at the top of the sheet. It shows the total amount allocated under different budget heads & subheads which are approved for the fiscal year.
What is budget release part of budget sheet?
Budget release part is the second part of the budget sheet which lies just below the annual budget appropriation. It shows the total amount of budget release received from the central level office.
What is budget expenditure part of budget sheet?
Budget expenditure part is the third part of the budget sheet. It shows the budget expenditures made by offices under different budget heads & subheads. It keeps the record of advance given & cleared transactions.
The following transactions of District Education Office, Chitwan are provided to you:
B.H. No. |
Budget heads |
Annual Appropriation of Budget |
Expenditure upto Aswin |
Expenditure of Kartik |
21111 21112 21121 22111 22142 22311 29411 29511 |
Salary Allowance Uniform/ dress Water and electricity Communication charges Office expenses Vehicle Machinery |
5,00,000 30,000 90,000 40,000 24,000 5,80,000 80,000 |
1,60,000 9,000 40,000 3,000 11,000 8,000 1,20,000 24,000 |
41,000 4,000 1,000 900 700 2,00,000 7,000 |
|
Total |
13,89,000 |
3,75,000 |
2,56,600 |
Mangsir 1 A cheque of Rs. 2,56,600 was received for bank order and budget release order.Mangsir 5 Accountant Mr. Santosh Pokhrel presented the bill of uniform of Rs. 3,000 and his advance was cleared by issuing a cheque of Rs. 500.
Mangsir 5 Accountant Mr. Santosh Pokhrel presented the bill of uniform of Rs. 3,000 and his advance was cleared by issuing a cheque of Rs. 500.Mangsir 10 The petty expenses on wages of Rs.50, newspapers of Rs.75 and water supply of Rs125 were reimbursed by cheque.
Mangsir 10 The petty expenses on wages of Rs.50, newspapers of Rs.75 and water supply of Rs125 were reimbursed by cheque.Mangsir 20 Issued a cheque of Rs.1,80,000 for the purchase of vehicle.
Mangsir 20 Issued a cheque of Rs.1,80,000 for the purchase of vehicle.
Mangsir 29 A cheque was issued for distributing salary, out of total salary of Rs.26,400 and allowance of Rs.8,000 after deduction of Rs.4,800 for provident fund and Rs.2,000 for provident fund loan.
Required: Budget Sheet
Solution:
Government of Nepal | AGF No. 8 | ||||||||||||
District Education Office, Chitwan | |||||||||||||
Budget Sheet | |||||||||||||
Number and Heads of Appropriation | Consumption Expenditure | Office Operation Expenditure | Capital Expenditure | ||||||||||
Appropriate Budget Heads/ Subheads | |||||||||||||
Appropriation of the fiscal year | 13,89,000 | 5,00,000 | 30,000 | 90,000 | 40,000 | 45,000 | 24,000 | 5,80,000 | 80,000 | ||||
Budget Transfer | |||||||||||||
Date | Ref. | Particulars | Total | ||||||||||
Release | |||||||||||||
08-01 | Release upto Kartik | 3,75,000 | 1,60,000 | 9,000 | 40,000 | 3,000 | 11,000 | 8,000 | 1,20,000 | 24,000 | |||
08-01 | Budget release for the month of Marga | 2,56,600 | 41,000 | 2,000 | 4,000 | 1,000 | 900 | 700 | 2,00,000 | 7,000 | |||
Expenditure | 08-05 | Uniform advance of Accountant Mr. Santosh Pokhrel cleared. | 3,000 | - | - | 3,000 | - | - | - | - | - | ||
(2,500) | (2,500) | ||||||||||||
08-10 | Petty cash fund reimbursed | 250 | 50 | - | - | 125 | - | 75 | - | - | |||
08-20 | Vehicle purchased and paid by cheque | 1,80,000 | - | - | - | - | - | - | 1,80,000 | - | |||
08-29 | Salary and allowance paid after deductions | 34,000 | 26,400 | 8,000 | - | - | - | - | - | - | |||
Total | 2,15,150 | 26,450 | 8,000 | 500 | 125 | - | 75 | 1,80,000 | - |
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