Chengalayi
Grama Panchayat

Finance Standing Committee

Chairperson: K. K. Ravi Master

Members:
Priya T. C.
Rajeena M.
P. K. Nafeesa
Rajitha P.

Key Responsibilities of the Committee:
The Finance Standing Committee is one of the most important standing committees in the Grama Panchayats of Kerala. This committee is responsible for planning and managing the financial affairs of the Panchayat.

Key details regarding the Finance Standing Committee are provided below:

1. Composition and Chairperson
Chairperson: The Vice President of the Grama Panchayat serves as the ex-officio Chairperson of this committee.
Members: The committee comprises a specific number of members elected from among the Panchayat members.

2. Key Responsibilities and Powers
The main functions of the Finance Standing Committee are as follows:

Budget Preparation: A primary responsibility of this committee is to prepare the budget, which includes the annual income and expenditure estimates of the Grama Panchayat. This is subsequently submitted to the Panchayat Committee for approval.
Financial Control: Monitoring the Panchayat's income and expenditure and ensuring that financial utilization adheres to established norms and guidelines.
Taxation and Revenue: Overseeing the levy and collection of taxes (such as building tax and professional tax) and fees to enhance the Panchayat's own revenue (own funds). Accounts and Audit: Prepare the Panchayat's annual accounts, examine audit reports, and take measures to resolve any issues or objections raised.
Project Coordination: Assess and arrange the necessary financial support for projects prepared by other standing committees (Development, Welfare, and Health & Education).
3. Significance
This committee acts as the custodian of the Panchayat's treasury. The Panchayat cannot make decisions involving significant financial liabilities without the approval or recommendation of the Finance Standing Committee.

Under the Kerala Panchayat Raj Act, this committee is essential for ensuring the transparent and efficient financial management of local self-government institutions.