Audit Manual - Core Treasury System Uttarakhand

Government of Uttarakhand
Audit Manual
Sr No. Term Meaning
or the supply of materials. The term ―contractor‖ means a person, syndicate or firm that has made such an undertaking,
but often its use is restricted to contractors for the execution of works or for services in connection therewith.
Expenditure sanction means the concurrence of the government to the expenditure proposed, in case where this is
necessary
4 Expenditure sanction
A revised expenditure sanction is necessary if the actual expenditure exceeds or is likely to exceed the amount oforiginal
sanction by more than 10 per cent, in case where the original estimates are up to Rs. 5 lakhs but not exceeding
Rs. 10 lakhs a revised expenditure sanction will be necessary if the actual expenditure exceeds or is likely to exceed the
original sanction by more than 5 per cent. In all other cases of works and those relating to residential buildings, any
excess over the amount to which expenditure sanction has been given requires revised expenditure sanction of
government in the finance department.
5 Final payment
Means the last payment on a running account made to a contractor on the completion or determination of his contract
and in full settlement of the account
6 Issue rate
- This term denotes the cost per unit fixed in respect of an article borne on the stocks of the department at a valuation,
for the purpose of calculating the amount creditable to the stocks account by charge to the account or service
concerned, when any quantity of that article is issued from stock.
7
Major estimate as per GO
88XXVII(3)/ 2005
Is a term applied to the estimate for a work, when the sanctioned amount of the works expenditure exceed Rs.50,0000.
This term is also applied, for the sake of convenience,to the work itself
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