A N N U A L R E P O R T 2 0 0 6 - 2 0 0 7 141 SREE CHITRA TIRUNAL INSTITUTE FOR MEDICAL SCIENCES AND TECHNOLOGY Statement of Accounts 2006-2007 2006-2007 2006-2007 2006-2007 2006-2007 Contents Balance Sheet ................................................................................................................. 143 Income & Expenditure Account ....................................................................................... 144 Schedules Forming Part of Balance Sheet 1 to 11 ............................................................ 147 Schedules Forming Part of Income & Expenditure Account 12 to 23 ............................... 164 Receipts & Payments Accounts for the year 2006-07 ....................................................... 168 Schedule Forming Part of Accounts. 24 & 25 .................................................................. 170 Provident Fund Accounts for the year ended 31-03-07 .................................................... 172 Audit Report ................................................................................................................... 175 Audit Certificate .............................................................................................................. 179
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A N N U A L R E P O R T 2 0 0 6 - 2 0 0 7 141
S R E E C H I T R A T I R U N A L I N S T I T U T E F O R M E D I C A L S C I E N C E S A N D T E C H N O L O G Y
Statement of Accounts2006-20072006-20072006-20072006-20072006-2007
Balance being Excess Expenditure over Income 114107094.36 100054983.37
Add: Transfer to Special Reserve Account 25115936.00 22418110.10
BALANCE BEING DEFICIT CARRIED TO CAPITAL FUND 139223030.36 122473093.47
SIGNIFICANT A CCOUNTING POLICIES 24
CONTINGENT LIABILITIES AND NOTES ON A CCOUNTS 25
Sd/-Sd/- DIRECTOR
Financial Adviser & S ree Chi tra Tirunal Institute forChief Accounts Officer Medical Sciences and T echnology
Thiruvananthapuram
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S R E E C H I T R A T I R U N A L I N S T I T U T E F O R M E D I C A L S C I E N C E S A N D T E C H N O L O G Y
SCHEDULES TO CAPITAL FUND AND LIABILITIES
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Schedules Forming Part of Balance Sheet as at 31-03-2007
Current Year Previous YearRs. Ps. Rs. Ps.
SCHEDULE 1 - CORPUS/CAPITAL FUND:
Balance as at the beginning of the ye ar 1863151846.50Less Depreciation up to the end of the prev ious year 700560240.13Net balance at the beginning of the ye ar 1162591606.37 685064699.84
Add: Contribution towards Corpus/Capital Fund(Plan Grants from Gov t of India) 606300000.00Add: Value of Equipments from Project Funds tra nsferred to Assets 0 .00 606300000.00 600000000.00Add/(Deduct): Balance of net income/(ex pendi ture) transferred fromthe Income and Expenditure Account 139223030.36 122473093.47
1629668576.01 1162591606.37Less:Va lue of Assets Wri tten off duri ng the year 0.00 0.00DeductTr ansfer to BMT/Add Tr ansfer from CHO
BBBBBALANCE AS AALANCE AS AALANCE AS AALANCE AS AALANCE AS AT T T T T THE THE THE THE THE YEAR-ENDYEAR-ENDYEAR-ENDYEAR-ENDYEAR-END 1629668576.011629668576.011629668576.011629668576.011629668576.01 1162591606.371162591606.371162591606.371162591606.371162591606.37
SCHEDULE 2 - RESERVES AND SURPLUS
1. Capital Reserve:As per last AccountAddition during the yearLess: Deductions during the year
2. Revaluation Reserve:As per last AccountAddition during the yearLess: Deductions during the year
3. Special Reserves:As per last Account 188082873.90 161885105.80Addi tion duri ng the year (Current year transfer+Decrease in prov ision) 27965214.00 26197768.10Less: Deductions duri ng the year 0.00 0.00
216048087.90 188082873.904. General Reserve:
As per last AccountAddi tion duri ng the yearLess: Deductions duri ng the year
GRANT GRANT GRANT GRANT GRANT TTTTTOOOOOTTTTTALALALALAL 144410295.14144410295.14144410295.14144410295.14144410295.14 47069220.0847069220.0847069220.0847069220.0847069220.08 64320172.3664320172.3664320172.3664320172.3664320172.36 255799687.58255799687.58255799687.58255799687.58255799687.58
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(Amount Rs)
Totals Utilisation
Capital Expenditure Revenue Expenditure Net Salaries Other Total Total Balance
Fixed Assets Others Total Wages Adm Exp Expenditure
As at the during the during thebeginning of Year Year
the year
A. FIXED ASSETS:1. LAND:
a) Freehold 1600169.51 0.00b) Leasehold
2. BUILDINGS:a) On Freehold Land 36326772.26 937085.00b) On Leasehold Landc) Ownership Flats/Premisesd) Superstructures on Land not belonging to the entity 122073245.50 1204840.00
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SCHEDULE 9 - INVESTMENTS FROM EARMARKED/ENDOWMENT FUNDS
1. In Government Securities 50567034.00 32300000.002. Other approved Securities 5685391.00 5685391.003. Shares4. Debentures and Bonds5. Subsidiaries and Joint Ventures6. Others (to be specified) Sinking Fund Investments 184169028.00 157848942.00
Technology Fund 31879059.90 30233931.90Pension & staff funds 49086686.00 265134773.90 47891176.00
TOTAL 321387198.90 273959440.90
SCHEDULE 11 - CURRENT ASSETS, LOANS, ADVANCES ETC
A. CURRENT ASSETS1. Inventories:
a) Stores and Spares 74661558.13 74661558.13 63282193.93b) Loose Tools 2214886.00 2214886.00 2254629.00c) Stock-in trade
2. Sundry Debtors:a) Debts Outstanding for a period exceeding six months Rs.8470307.00 b) Others Rs.4003512.00 12473819.00 12473819.00 8606706.00
3. Cash balances in hand(including cheques/drafts and imprest) 1143745.63 1143745.63 1282474.384. Bank Balances:
a) With Scheduled Banks:-On Current Account 1.15-On Deposit Accounts(L.C. margin & commitment deposit) 676000000.00-On Savings Accounts 74478139.58 750478140.73 531081880.06
b) With non-Scheduled Banks:-On Current Account-On Deposit Accounts-On Savings Accounts
5. Post-Office-Savings Accounts
TOTAL(A) 848312281.49 613515834.37
Schedules Forming Part of Balance Sheet as at 31-03-2007
Current Year Previous YearRs. Ps. Rs. Ps.
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B. LOANS, ADVANCES AND OTHER ASSETS1. Loans:
a) Staff 12293728.00 13511476.35b) Other Entities engaged in activities/objectives similar to that of the Entityc) Other(specify)
2. Advances and other amounts recoverable in cash or in kindor for value to be received:a) On Capital Account 141854325.00 86956777.00b) Prepayments 5912332.53 5831795.53c) Others 1161347.00 958767.00
3. Income Accured:a) On Investments from Earmarked/endowment Fundsb) On Investments-Othersc) On Loans and Advancesd) Others (includes income due unrealised Rs )
4. Claims ReceivableFrom Govt of India on Plan Funds
TOTAL(B) 161221732.53 107258815.88
TOTAL(A+B) 1009534014.02 720774650.25
Current Year Previous YearRs. Ps. Rs. Ps.
Schedules Forming Part of Balance Sheet as at 31-03-2007
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SCHEDULE 12 - INCOME FROM SALES/SERVICES
1. Income from Salesa) Sale of Finished Goodsb) Sale of Raw Materialc) Sale of Scraps
2. Income from Servicesa) Labour and processing chargesb) Professional/Consultancy Servicesc) Agency Commission and Brokeraged) Maintenance Servicese) Others (Specify)
From Hospital Services-Gross Income Rs.386718557.00Less concession to poor Patients Rs.143704121.00 243014436.00 224406542.00From Projects 176775.50 500327.00Testing & Facility charges received 1500966.46 2026323.00
1. Central Government 215900000.00 176000000.002. State Government(s)3. Government Agencies4. Institution/Welfare Bodies5. International Organisations6. Others(Specify)
Investment from Earmarked Fund Investment-Others Total for
Current Year Previous Year Current Year Previous Year Current Year Previous YearRs. Ps. Rs. Ps. Rs. Ps. Rs. Ps. Rs. Ps. Rs. Ps.
Current Year Previous YearRs. Ps. Rs. Ps.
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SCHEDULE 17- INTEREST EARNED
1) On Term Deposita) With Scheduled Banks 37742643.00 15922704.00b) With non-scheduled banksc) With Institutionsd) Others
2) On Savings Accounta) With Scheduled Banks 582327.85 249295.58b) With non-scheduled banksc) Post Office Savings Accountd) Others
3) On Loansa) Employees/Staff 1117430.00 1235108.00b) Others
4) Interest on Debtors and other Receivables
TOTAL 39442400.85 17407107.58
SCHEDULE 18 - OTHER INCOME
1. Profit on Sale/disposal of Assets:a) Owned assetsb) Assets acquired out of grants, or received free of cost
2. Export Incentives realized3. Fees for Miscellaneous Services4. Miscellaneous Income (income from Projects) 2739696.00 3621074.00
Other Income 1529175.00 2497531.70
TOTAL 4268871.00 6118605.70
SCHEDULE 20 - ESTABLISHMENT EXPENSES
a) Salaries and Wages 200004717.60 190757651.00b) Allowances and Bonus 1211649.00 2268248.00c) Contribution to Provident Fundd) Contribution to other fund(specify)e) Staff Welfare Expenses 7515579.00 7510301.00f) Expenses on Employee�s Retirement and Terminal Benefits 15209938.00 13962652.00g) Others(Specify) PG Training & Accademic payments 24797726.00 15118392.00
TOTAL 248739609.60 229617244.00
Schedules Forming Part of Income & Expenditure for the Period/Yearended 31-03-2007
Current Year Previous YearRs. Ps. Rs. Ps.
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Schedules Forming Part of Income & Expenditure for the Period/Yearended 31-03-2007
Current Year Previous YearRs. Ps. Rs. Ps.
SCHEDULES 21 - OTHER ADMINISTRATIVE EXPENSES ETC
a) Purchases 222126262.50 183086067.42b) Labour and processing expenses 0.00 0.00c) Cartage and Carriage Inwards 323913.00 1006351.00d) Electricity and power 26305916.00 27181304.00e) Water charges 2017280.00 1332792.00f) Insurance 2242.00 1103.00g) Repairs and maintenance 40207767.80 13192097.00h) Excise duty 0.00 0.00i) Rent, Rates and Taxes 343367.75 390318.00j) Vehicles Running and Maintenance 416509.00 519882.00k) Postage,Telephone and Communication Charges 2078212.00 2238129.00l) Printing and Stationary 2143961.00 1548427.00m) Travelling and Conveyence Expenses 1240207.71 823745.00n) Expenses on Seminar/Workshop 2013319.00 2154451.00o) Subscription Expenses 120552.00 120334.00p) Expenses on Fees 0.00 0.00q) Auditors Renumeration 6734.00 6092.00r) Hospitality Expenses 0.00 0.00s) Professional Charges 0.00 0.00t) Provision for Bad and Doubtful Debts/Advances 0.00 0.00u) Irrecoverable Balances Written-off 0.00 0.00v) Packing Charges 0.00 0.00w) Freight and Forwarding Expenses 0.00 0.00x) Distribution Expenses 0.00 0.00y) Advertisement and Publicity 2314578.00 2163333.00z) Others (specify) 14904106.55 10947211.50
TOTAL 316564928.31 246711636.92
SCHEDULE 23 - INTEREST
a) On Fixed Loans
b) On Other Loans(including Bank Charges) 85687.00 157732.75
c) Others(specify)
TOTAL 85687.00 157732.75
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RECEIPTS Current Year Previous Year
I Opening Balancea) Cash In Hand 1282474.38 87505.38b) Bank Balances
i) In Current Account 1.15 46425.15 ii) In deposit Account iii) Savings Account 77931058.91 50170847.55
II Grant ReceivedFrom Government of India
Under Plan scheme 650000000.00 700000000.00Plan recurring 100000000.00Non-Plan scheme 72200000.00 76000000.00
III Income against EarmarkedFundsa) Earmarked funds 23590488.00 28356812.06b) Own funds
IV Interest Receiveda) On Bank deposits 40585535.90 18189853.58b) Loans Advances etc 224492.00 415424.00
V Other IncomeIncome from Patient services 238017922.00 224169339.00Other receipts including Royalty 11081687.46 16096150.51
VI Amount BorrowedFrom State Bank of 0.00 0.00Travancore-OD facility
VII Any other reciptsGrant received for Projects 47754910.94 57872761.15Refund of Deposits(LC Margin)Other Deposit received 81632353.29 779250435.00
TOTAL 1344300924.03 1950655553.38
Receipts & Payments for the Period from 01-04-2006 to 31-03-2007
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I Expensesa) Establishment expenses 267494607.31 245025393.84b) Administrative Expenses
For Purchases 324100573.50 253759892.00Other expenses 80238138.25 69931993.25
II Payments made against funds for various Projects
As Per schedule 34109924.11 34990368.00
III Investments & Deposits madea) Out of Earmarked funds 5623379.00 1550000.00b) Out of own funds 203149180.00 1013150820.00
IV Expenditure on Fixed Assets &Capital work -in- progressa) Purchase of Fixed Assets 52025660.00 37880871.00b) Capital work-in-progress
V Refund of Loans
VI Finance Charges(Bank charges) 81571.00 94569.75
VII Other PaymentsTo Funds/Deposit- refunds 301856004.50 215058111.10
VIII Closing Balancea) Cash in hand 1143745.63 1282474.38b) Bank Balances
i) In current Account 1.15 1.15ii) In Deposit Accountiii) Savings Account 74478139.58 77931058.91
TOTAL 1344300924.03 1950655553.38
PAYMENTS Current Year Previous Year
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Schedules Forming Part of Accounts for the Period ended 31-03-2007
SCHEDULE 24 - SIGNIFICANT ACCOUNTING POLICIES
ACCOUNTING CONVENTIONFinancial Statements are prepared on the basis of historical cost convention unless otherwise stated and on the accrual method ofaccounting
INVENTORY VALUATIONStores and spares including machinery spares are valued at cost
INVESTMENTSInvestment including long term investments are carried at cost.
FIXED ASSETSFixed assets are stated at cost of acquisition inclusive of inward freight,duties and taxes incidental and direct expenses related toacquisition.
DEPRECIATION6.1 Depreciation is provided on reducing balance method at the rates specified by the Incometax Act 1961.6.2 In respect of additions to/deductions from fixed assets,during the year depreciation is provided for full year.
GOVT GRANTS/SUBSIDIES9.1 Govt Grant from Plan fund are treated as additions to Capital fund of Institute.9.2 Grants in respect of specific fixed assets acquired are shown as deduction from the cost of the related asset.9.3 Govt Grants/subsidies are accounted on Grant release order basis.
FOREIGN CURRENCY TRANSACTIONSTransactions denominated in foreign currency are accounted at exchange rate prevailing at the date of transactions.
RETIREMENT BENEFITS12.1 An amount equal to one month salary every year is transferred to Pension Fund Account to meet liability on account of
Pension payments.12.2 An amount of Rs.4 lakh is transferred every year to above fund for meeting liabilities on account of Gratuity payments.12.3 Leave encashment eligible at the time of retirement/reliving is accounted on actual payment basis.
PROVIDENT FUNDLiabilities and assets of Provident fund account were separated from Balance sheet of Institute and shown as separatestatement.
SINKING FUND RESERVEFive percent of receipts from patient are transferred to a Fund for meeting unexpected requirements for Fixed assets.
TECHONOLOGY DEVELOPMENT FUNDReceipts against technologies developed by Institute are transferred to the above fund for meeting additional expenses onImprovement of technologies already developed. During the year Rs.11.30 lakh was spent from this fund for the purpose.
.
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SCHEDULE 25 - CONTINGENT LIABILITIES AND NOTES ON ACCOUNTS
CONTINGENT LIABILITIES1.1 Claims against the Institute not acknowledged
as debts Rs. NIL ( PY NIL)
1.2 In respect of:Bank Gurentee given by Institute Rs.11.24 lakh (PY Rs11.24 lakhs)
Letters of credit opened on behalf of Institute Rs.914.50 lakh (PY Rs1610.06 lakh)
1.3 Disputed demands on Income tax etc Nil
1.4 In respect of claims from parties for non-execution of orders Nil
CAPITAL COMMITMENTS
Estimated value of orders remaining to beexecuted on Capital Account Rs.856.83 lakh (PY Rs.1436.33 lakh)
Lease obligation for rentals for Plant & Machinery Nil
CURRENT ASSETS, LOANS & ADVANCES The aggregate amount shown in the Balance sheet forthe Current assets, Loans and Advances, have thevalue which is realisable in the ordinary course ofbusiness.
TAXATION Provision for Income tax not made since ther is notaxableincome for Institute under Income tax Act 1961,during the year
FOREIGN CURRENCY TRANSACTIONS: 6.1 Value of Imports