CHAPTER 1 - Border Roads Organisation

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22. Operation of Account. Cash Book will be maintained/operated by the Acct Offr GBF
as nominated by the Dy Chairman. However, bank account will be jointly operated by the Ist &
3 rd members of the Governing Council.
23. Investment of the Fund. The fund shall be invested in PSU/Nationalised Banks/UTI etc,
after concurrence by the Governing Council. No amount shall be invested in a loss making PSU
or Organisation.
24. System of Accounting. Proper accounts shall be kept by the Secretary Accts Offr of the
fund. By the 10 th of each month the accounts will be put up to Dy Chairman through GBF
Secretary/Accts Offr. The accounting year will be the same as the financial year viz from Ist
April of calendar year to 31 st March of the following year. A consolidated annual account for
the year ending 31 st March shall be prepared by the Secretary/Accts Offr showing receipts and
payments during the year supported by their relevant documents and shall be submitted to the
Chairman of the fund by 30 th Jun for producing the same to the Governing Council. The
Governing Council shall ensure that the registers for withdrawal and payments are properly
maintained and adequate provisions are made for systematic internal check for the regular
accounting of the disbursements.
25. Bank Draft Charges & MO Commission. Mode of payment will be decided by the
Secretary GBF. MO commission and charges for bank drafts as applicable will be met from the
fund and will not be deducted from the benefits sanctioned.
26. Expenditure on Stationery. Expenditure on stationery required for documentation
exclusively pertaining to GBF, which cannot be met from any Government sources may be met
out of this fund. The following members of the Council can sanction expenditure for purchase
of stationery on this account :-
(a) Upto Rs 3,000/- per annum - Dy Chairman of Governing Council.
(b) Beyond Rs 3,000/- and upto - Chairman of Governing Council
Rs 5,000/- per annum
27. Auditing of Accounts. Accounts shall be made available by the Secretary for audit by
the Quarterly Audit Board to be appointed for the purpose by the Governing Council. In
addition, the accounts will be got audited by Chartered Accountant where the annual assets
exceed Rupees five lakhs expenditure.
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