Annual Report 2011-2012 - Birbal Sahni Institute of Palaeobotany

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EBIRBAL SAHNI INSTITUT Annual Report 2011-2012 1946 OF PALAEOBOTANY AUDIT REPORT to the Governing Body of the Birbal Sahni Institute of Palaeobotany Lucknow We have audited the attached Balance Sheet of Birbal Sahni Institute of Palaeobotany, Lucknow, as at 31st March 2012 and also the Income & Expenditure account and Receipt & Payment account for the year ended on that date annexed thereto. These financial statements are the responsibility of the Institute’s management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statement. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. Further to our comments in the Annexure “A” attached, we report that : (i) (ii) (iii) (iv) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purpose of our audit; In our opinion, proper books of account as required by law have been kept by the Institute so far as appears from our examination of those books; The Balance Sheet and Income & Expenditure account and Receipt & Payment account dealt with by this report are in Agreement with the books of account; In our opinion and to the best of our information and according to the explanations given to us and the said account give the information, in the manner so required, and give a true and fair view in conformity with the accounting principles generally accepted in India; a) In the case of the Balance Sheet, of the state of affairs of the Institute as at 31st March, 2012; b) In the case of the Income & Expenditure Account, of the surplus/deficit for the year ended on the date, and c) In the case of Receipt & Payment Account, of the receipts & payments of the Institute for the year ended on that date. For Singh Agarwal & Associates Chartered Accountants Place : Lucknow Date : 03 rd September, 2012 Mukesh Kumar Agarwal FCA, DISA (ICAI) Partner Membership No. 073355 www.bsip.res.in 95
EBIRBAL SAHNI INSTITUT OF PALAEOBOTANY 1946 Annual Report 2011-2012 ANNEXURE - ‘A’ Comments / Audit Observations on Accounts of Birbal Sahni Institute of Palaeobotany, Lucknow by the Chartered Accountants and Actions taken by the Institute S No. Comments/Observations by the Chartered Accountants Actions taken by the Institute 01. ACCOUNTS: The Institute is getting separate grants for Plan & Non-Plan expenses based on the budgets approved by the DST. During the year under report, the Institute has allowed to use Plan head funds for Salary etc instead of Non-Plan budget. Further, as per delegation of financial power rules and rule 16.01 of Bye-laws, no re-appropriation shall be made from fund provided under Plan Heads to Non-Plan Heads but during the year, the funds under Plan-head was used for expenditures under non-plan heads. 02. Advances (capital head) unsettled and pending for recovery / adjustment as on 31.03.2012 under different heads, since long, are to be properly taken care of at the Institute level for early adjustment thereof. Details of which are as under: Particulars Year Amount (`) BOOKS & JOURNALS 2007-2008 643.65 2008-2009 183.90 2009-2010 2853.00 2010-2011 256942.68 03. The Institute made all desired efforts and implemented much awaited ‘Double entry system of accounting’ at the Institute during the year 2011-12. However, within the limitations, during the current financial year 2011-12 final accounts have been prepared and compiled on the basis of ‘Single Entry System of Accounting’ and efforts were made to reconcile the same with Final Accounts from ‘Double entry system of accounting’. Due to this, various Errors and Omissions were identified and the same have been suitably taken care. The details of the said adjustments are as under: In the Balance Sheet of GPF as on 31/03/2011, outstanding balance was ` 6,41,17,967.99, whereas as per balance sheet, GPF fund as per Schedule III, it was mentioned as ` 6,11,17,967.99. The difference of ` 30,00,000.00 was on account of wrong entry in Advances out of GPF. The same was rectified and the opening balance was increased by the said amount. In GPF Balance Sheet on Asset side, balance was ` 6,11,17,968/- whereas in the Schedule 9, it was taken as ` 6,08,65,177/-. The difference of ` 2,52,791/- was on account of opening TDS which was not included in the Schedule “9”. The same was rectified in the current year. In Pension Fund, as on 31/03/2011 in schedule 3, the balance was ` 9,09,16,302/-, whereas in schedule 9, it was ` 9,10,90,195/-. The difference of ` 1,73,893/- was on account of TDS of 2010- 2011 not added to Pension Fund in Schedule 3. So, the same was rectified in current year. Transfer of funds from Plan to Non-Plan is made with approval of the Governing Body and communicated to DST, New Delhi. This is in view of non availability of sufficient funds under the Non-Plan Head to meet obligatory expenses. Efforts are being made to settle the outstanding advances. Sometime, the books and journals get delayed in publications and hence, they are not received in time in the library of the Institute. Noted for compliance. 96 www.bsip.res.in
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Contents Foreword .................
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Foreword The Birbal Sahni Institute
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Research Highlights Birbal Sahni In
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• Variation in the palynofacies a
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EBIRBAL SAHNI INSTITUT Annual Repor
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Annual Report 2011-2012 - Birbal Sahni Institute of Palaeobotany

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