Chengalayi
Grama Panchayat

Key Aspects of AFS for Kerala Grama Panchayats

• Purpose: It includes the Annual Administration Report (AAR) and the annual budget, which must be presented to the Grama Sabhas.
• Components: The statement covers the opening balance, receipts, payments, and closing balance, including specific allocations for projects.
• Digitalization: Through systems like K-SMART, financial reporting has become digitized, integrating the Finance Management System with tax collection and payment.
• Audit: The Kerala State Audit Department (KSAD) audits these statements to ensure accuracy, often reviewing the integration of software systems like Saankhya and Sanchay