Budget Sheet
Subject: Other
Overview
A budget sheet is the statement of the annual appropriation of the budget, budget release and budget expenditures of operating level offices. This note has information about budget sheet.Budget Sheet
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.
Objectives of Budget Sheet
The main objectives of preparing budget sheet are as follows: -
- To keep a systematic record of the annual appropriation of the budget, budget release and budget expenditure under different budget heads and subheads.
- To provide detailed information regarding annual appropriation of the budget, budget release and budget expenditures.
- To maintain effective control on misappropriation of public funds while spending money on different heads of expenditures.
- To make the expenditures within the limitations of the budget.
- To provide historical data on expenditures and to assist for estimating budget.
- To provide financial data and information for preparing financial statements and reports.
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 importance are as follows:
- It provides information about annual appropriation, budget release and budget expenditure under different budget heads.
- It helps to maintain effective control over the budget.
- It facilitates the preparation of financial statement of reports.
- It also supports for the preparation of the budget and run the financial administration.
- It facilitates for an audit of books of account.
Things to remember
- A budget sheet is the statement of the annual appropriation of the budget, budget release and budget expenditures of operating level offices.
- The budget sheet is prepared by such offices at the end of each month.
- The budget sheet is prepared with the help of journal vouchers and submitted to the central level offices.
- The budget sheet has 12 main heads and 47 subheads of expenditures. It is prepared under the prescribed format of AGF No. 8.
- It includes every relationship which established among the people.
- There can be more than one community in a society. Community smaller than society.
- It is a network of social relationships which cannot see or touched.
- common interests and common objectives are not necessary for society.
Questions and Answers
Post the following transactions into budget sheet:
|
Budget Head |
Annual Budget (Rs.) |
Expenditure of Magh (Rs.) |
Expenditure up to Kartik (Rs.) |
|
Salary |
1,25,000 |
10,500 |
45,000 |
|
Local Allowances |
5,000 |
350 |
1,200 |
|
House rent |
15,000 |
1,000 |
5,000 |
|
Office materials |
18,000 |
2,000 |
15,000 |
|
Miscellaneous |
30,000 |
4,000 |
15,000 |
|
Fuel other |
6,000 |
500 |
2,000 |
|
Furniture |
9,000 |
- |
4,000 |
|
Machinery |
30,000 |
5,650 |
- |
Poush 3: Received budget release order for the actual expenditure of Magh and bank order letter for the same.
Poush 10: Miscellaneous advance of Rs.4,800 of Sectional Officer Mr. Dahal has been cleared after receiving biils for the same Rs.5,000
Poush 18: Additional revolving fund of Rs.22,000 for the purchase of machinery has been received.
Poush 25: Paid office rent by cheque for the month of Poush and Magh @ Rs.1,500 per month.
| Government of Nepal | ||
| ………………. Office/ Dept./ Ministry | ||
| Budget Sheet | ||
| For the month of Poush |
| Budget Heads | Salary | Local allowance | Office operating expenses | House rent | Fuel for other | Miscellaneous expenses | Furniture | Machinery | ||||
| Budget Head No. | 21111 | 21112 | 22311 | 22121 | 22314 | 22711 | 29311 | 29511 | ||||
| Appropriation for the current fiscal year | 1,25,000 | 5,000 | 18,000 | 15,000 | 6,000 | 30,000 | 9,000 | 30,000 | ||||
| Budget transfer | ||||||||||||
| Release | Date | Ref No. | Particular | Total | ||||||||
| Budget release upto Marga | 76,200 | 45,000 | 1,200 | 4,000 | 5,000 | 2,000 | 15,500 | 4,000 | - | |||
| Poush 3 | Budget release for the month | 24,000 | 10,500 | 350 | 2,000 | 1,000 | 500 | 4,000 | - | 5,650 | ||
| Poush 18 | Additional budget release | 22,000 | - | - | - | - | - | - | - | 22,000 | ||
| Release up to Poush | 1,22,200 | 55,500 | 1,550 | 6,000 | 6,000 | 2,500 | 19,000 | 4,000 | 27,650 | |||
| Expenditure | Poush 10 | Mr. Dahal’s advance Clearance | 5,000 | 5,000 | ||||||||
| (4,800) | (4,800) | |||||||||||
| Poush 25 | Rent paid | 3,000 | 3,000 | |||||||||
| Expenses for the month of Poush | 3,200 | 3,000 | 200 | |||||||||
| Expenses upto the month of Poush | 1,25,400 | 55,500 | 1,550 | 6,000 | 9,000 | 2,500 | 19,200 | 4,000 | 27,650 | |||
Following information are given:
|
Annual Budget (Rs.) |
Budget Heads |
Expenses up to Bhadra (Rs.) |
Expenses of Aswin (Rs.) |
|
4,00,000 |
Salary |
60,000 |
64,000 |
|
20,000 |
Local Allowance |
4,000 |
2,000 |
|
30,000 |
Office operating expenses |
8,000 |
2,000 |
|
50,000 |
Furniture |
20,000 |
10,000 |
|
50,000 |
Machinery and equipments |
40,000 |
- |
|
10,000 |
Contingencies |
- |
- |
|
5,60,000 |
|
132,000 |
78,000 |
Kartik 3: Received bank order and budget release order for actual expenditure of Aswin.
Kartik 10: Received bills for purchase of furniture of Rs.10,500 against the advance of Rs.10,000 paid to Mr. Bhattarai, and his advance cleared.
Kartik 20: Issued a cheque of Rs.3,000 for the payment of office materials.
Required: Budget Sheet
| Government of Nepal | ||
| ………………. Office/ Dept./ Ministry | ||
| Budget Sheet | ||
| For the month of Kartik |
| Budget Heads | Salary | Local allowance | Office materials | Furniture | Machinery | Contigency | ||||
| Budget Head No. | 21111 | 21112 | 22311 | 29311 | 29511 | 22911 | ||||
| Appropriation for the current fiscal year 5,60,000 | 4,00,000 | 20,000 | 30,000 | 50,000 | 50,000 | 10,000 | ||||
| Budget transfer | ||||||||||
| Date | Ref No. | Particular | Total | |||||||
| R e l e a s e | Release up to Aswin | 1,32,000 | 60,000 | 4,000 | 8,000 | 20,000 | 40,000 | - | ||
| Kartik 3 | Received budget release order | 78,000 | 64,000 | 2,000 | 2,000 | 10,000 | - | - | ||
| Release upto Kartik | 2,10,000 | 1,24,000 | 6,000 | 10,000 | 30,500 | 40,000 | - | |||
| Expediture | Kartik 10 | Furniture advance cleared of Mr. Bhattarai | 10,500 | 10,500 | - | |||||
| (10,000) | ||||||||||
| (10,000) | ||||||||||
| Kartik 20 | Purchase of office materials | 3,000 | 3,000 | - | ||||||
| Total expenditure of the month | 3,500 | 3,000 | - | |||||||
| Expenditure upto Aswin | 2,10,000 | 1,24,000 | 6,000 | 10,000 | 30,500 | 40,000 | - | |||
| Expenditure up to Kartik | 2,13,000 | 1,24,000 | 6,000 | 13,000 | 30,500 | 40,000 | - | |||
What is budget sheet?
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.
What is budget sheet?
A budget sheet is the statement of the annual appropriation of the budget, budget release and budget expenditures of operating level offices.
Write down the objectives of budget sheet.
The following are the objectives of budget sheet:
- To keep a systematic record of the annual appropriation of the budget, budget release and budget expenditure under different budget heads and subheads.
- To provide detailed information regarding annual appropriation of the budget, budget release and budget expenditures.
- To maintain effective control on misappropriation of public funds while spending money on different heads of expenditures.
- To make the expenditures within the limitations of the budget.
- To provide historical data on expenditures and to assist for estimating budget.
- To provide financial data and information for preparing financial statements and reports.
Write down the importance of budget sheet.
The importance of budget sheet are as follows:
- It provides information about annual appropriation, budget release and budget expenditure under different budget heads.
- It helps to maintain effective control over the budget.
- It facilitates the preparation of financial statement of reports.
- It also supports for the preparation of the budget and run the financial administration.
- It facilitates for an audit of books of account.
Write the AGF number of Budget sheet.
The AGF No. of Budget Sheet is 8.
Name three parts of budget sheet.
The three parts of budget sheet are:
- Annual appropriation part
- Budget release part
- Budget expenditure part
Quiz
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