CIVIL SERVICES OFFICERS INSTITUTE

Transcription

1

2 1. INTRODUCTION The Civil Services Officers Institute is a registered society under the Societies Registration Act and was set up in February CSOI was allotted a building at K.G Marg, M.S.Apartments complex in 1998 which was later re-appropriated by CPWD to provide facilities of an Institute. Subsequently land was allotted to CSOI in 2002 at Vinay Marg, Chanakyapuri measuring 4.23 acres by Ministry Urban Development, GOI. The new building was constructed by NBCC at a cost of Rs cr and it became operational with effect from December The Governing Council of CSOI took a decision to run both the Institutes at their respective locations in view of increased membership. 2. AIMS AND OBJECTIVES The aims and objectives of the CSOI inter alia include:- (i) To promote welfare of the officers of the Civil Services and bring them together under one umbrella to secure complete integration of the services and to build a corps of officers imbibed with the spirit of co-operation in all aspects of Civil Services. (ii) To hold, organize, arrange and conduct seminars, symposiums, talks, debates, workshops, lectures and other means of dispensing education to meet the needs and challenges of modern day Civil Administration. (iii) To print and publish journals, periodicals and manuals to keep the civil servants abreast with modern day developments in Civil Administration. (iv) To acquire and promote modern skills of Civil Administration and harmonize between different fields of Civil Administration by disseminating or exchanging knowledge thereof and by providing such other facilities as would lead to their Universal application. (v) To establish and maintain libraries and information system to facilitate study of Civil Administration at International level and spreading information in regard thereto. (vi) To organize and maintain, on no-profit-no loss basis, limited residential accommodation for the members of the Society coming to participate in the activities of the Association and of other bodies with cognate objectives, as well as non-members, invited to participate in the activities of the Association. 3. MANAGEMENT CSOI is managed by a Governing Council headed by Cabinet Secretary, an Executive Committee headed by Secretary (DOPT), and a Working Committee headed by Additional Secretary (DOPT). 4. ACTIVITIES DURING THE YEAR During the year, CSOI organized various activities/events for welfare, entertainment and intellectual awareness on public issues. All major festivals like Holi, Diwali, X-Mas and New Year were celebrated. Artists were invited to perform dance and music concerts. CSOI organized health talks and yoga camps check-up camps, cancer detection camp and talks on self-actualization post retirement. Broad activities covered were:- (i) Stage performances included Indian classical dances/ Musical concerts and Dramas for entertainment of members. 1

3 (ii) (iii) (iv) (v) (vi) Art Gallery exhibitions to promote artists members of CSOI. Book and Authors interactive sessions were organized by inviting leading authors. Health awareness lectures by a panel of super specialist doctors on life style diseases viz IHD, BP, Diabetes & also Aritharities. Yoga classes were conducted during summer vacations. Week-end movies on Saturdays- two shows are organized showcasing best of Indian and western cenema. 5. FACILITIES OF NEW CSOI BUILDING AT VINAY MARG, CHANAKYAPURI, NEW DELHI The new CSOI has been designed to provide multiple facilities for its members. It has two multi cuisine restaurants, a Bar, Lounge, Tea. Auditorium with 250 seating capacity, two air conditioned party halls for 150 guests, two open terraces for open air parties, ten fully furnished guest rooms, gymnasium, health club with spa for both ladies and men separately, Shahnaz Beauty Parlor for both men and women, swimming pool, squash court, Table Tennis, Billiards room, Card room, TV & kids room. The tariff structure for various facilities has been approved by the Executive Committee and is posted on CSOI website. 6. FINANCES The main sources of income of the Institute are admission fees, annual subscription from members, rebate share from the F&B services and interest on fixed deposits. Both the Institutes are providing multiple facilities to the members and their families and CSOI has now become a hub of cultural and social activities organized for entertainment of members at Delhi and promote skills of members and their dependents in the field of art and culture. 7. MEMBERSHIP The present status of membership is as under:- (a) In station members (b) Out station members (c) Tenure Members (d) Life membership Total OVERALL ASSESSMENT OF PERFORMANCE During financial year , CSOI has further improved its investment portfolio in fixed deposits with public sector banks and bonds from Rs Cr. to Rs Cr. and booked a net surplus of Rs 6.28 Cr. This increase in investment portfolio is due to grant of memberships allotted during the year from their entry fee, annual subscription from all members and interest on deposits. 9. MAJOR ACHIEVEMENT OF CSOI DURING THE YEAR ARE AS UNDER:- Operationalization of new CSOI website with on line facility for payment by members. Substantial increase in entertainment activities of members. Inauguration of Art Gallery and display of exhibitions. Provision of Beauty Parlor services July

4 ANNEXURE-I LIST OF MEMBERS OF GOVERNING COUNCIL : S. NAME DESIGNATION No. 1. Cabinet Secretary Chairman 2. Secretary (Personnel) President 3. Foreign Secretary Member 4. Home Secretary Member 5. Chairman, Railway Board Member 6. Secretary, Department of Expenditure Member 7. Chairman, Telecom Commission Member 8. Defence Secretary Member 9. Secretary, Ministry of Urban Development Member 10. Secretary, Defence Research & Development Member 11. Secretary, Department of Scientific & Industrial Research Member 12. Secretary, Department of Women & Child Development Member 13. Chief Secretary, Govt. of NCT Delhi Member 14. Secretary, Department of Posts Member 15. Deputy Comptroller & Auditor General of India Member 16. Chairman, Central Board of Excise & Customs Member 17. Chairman, Central Board of Direct Taxes Member 18. Director General, Health Services Member 19. Director General of Forest Member 20. Director, Intelligence Bureau Member 3

5 ANNEXURE-II LIST OF MEMBERS OF EXECUTIVE COMMITTEE: S.No. NAME DESIGNATION 1. Secretary (Personnel) President 2. Additional Secretary (S & V) Vice-President 3. Joint Secretary (E) Secretary 4. Financial Adviser (Home) Treasurer 5. Chief Welfare Officer Joint Secretary 6. Commissioner of Police Member 7. Principal Secretary (Finance), Government of NCT Delhi Member 8. Chairman, NDMC Member 9. Chairman & Managing Director, Delhi Transco Ltd. Member 10. Director General, SAI Member 11. Director General (Works) CPWD Member 12. Controller General of Accounts Member 13. Joint Secretary (Ministry of Urban Development) Member 14. Chief of Protocol, M.E.A. Member 15. Joint Secretary, Cabinet Secretariat Member 16. Director General, ICCR Member 17. Chief Commissioner of Customs & Excise Member 18. Chief Commissioner of Income Tax Member 19. Chairman, MTNL Member 20. Chief Controller R&D (R&M) & NS Member Co-opted Members 1. Ms. Kiran Aggarwal, Former Secretary to GOI 2. Ms. Asha Das, Former Secretary to GOI 3. Ms. Rathi Vinay Jha, Former Secretary to GOI 4. Ms. Vineeta Rai, Former Secretary to GOI 5. Shri Amitabh Kant, Secretary M/o Mines 6. Shri Anoop Pujari, Secretary DIPP 7. Shri Lalit Pawer, Secretary M/o Minority Affairs 8. Mrs. Vibha Puri Das, Former Secretary to GOI 4

6 J.K. Sarawgi & Company 141, Siddhartha Enclave, Near Ashram Chowk, New Delhi AUDITORS REPORT To, The Hon ble Members Civil Services Officer s Institute, F-116, M S Apartments, Kasturba Gandhi Marg, New Delhi We have audited the attached Balance Sheet of CIVIL SERVICES OFFICER S INSTITUTE as at 31 st March, 2014, and also Income & Expenditure Account for the year ended on that date annexed thereto. These financial statements are the responsibility of Management of the Society. Our responsibility is to express as opinion on these financial statements based on our Audit. We conducted our audit in according with the Auditing Standards generally accepted in India. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion. i) We have obtained all the information and the explanation which to the best of our knowledge and belief were necessary for the purpose of our audit. ii) In our opinion proper books of account as required by law have been maintained by the Society so far as appears from our examination of those books. iii) The Balance Sheet and the Income & Expenditure Account dealt with by this report are in agreement with the books of account. iv) In our opinion and to the best of our information and according to the explanation given to us, the said accounts together with the schedule and notes to the accounts annexed thereto give a true & fair view in conformity with accounting principles generally accepted. a. In the case of the Balance Sheet of the State of Affairs of the Society as at 31 st March 2014 and b. In the case of Income & Expenditure account of the excess of Income Over Expenditure for the year ended on that date. For J.K. Sarawgi & Company FRN C Place : New Delhi Date : 29 Sep We further report that:- M. No. :

7 BALANCE SHEET AS ON 31ST MARCH, 2014 AMOUNT IN RS. PARTICULARS SCHEDULE CURRENT YEAR PREVIOUS YEAR NO. AMOUNT RS. AMOUNT RS. SOURCES OF FUNDS Corpus Fund 16,643,650 16,643,650 Capital Grant-in-aid 1 410,201, ,710,246 General Reserve Fund 2 243,224, ,378,739 Security Deposit 3 30,069,813 19,537,137 APPLICATION OF FUNDS 700,139, ,269,772 Fixed Assets (W.D.V.) 4 430,008, ,052,159 Capital Work-in-Process 662,000 Investments 5 321,382, ,792,181 CURRENT ASSETS, LOANS & ADVANCES Inventories 2,219,659 2,709,289 Cash & Bank Balances 6 16,187,428 42,731,971 Loans & Advances 7 11,295,495 6,637,131 29,702,582 52,078,391 Current Liabilities & Provisions 8 80,954,607 85,314,959 NET CURRENT ASSETS (51,252,025) (33,236,568) 700,139, ,269,772 6

8 INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 2014 AMOUNT IN RS. PARTICULARS SCHEDULE CURRENT YEAR PREVIOUS YEAR NO. AMOUNT RS. AMOUNT RS. INCOME Sales 9 85,388,193 40,253,797 Commission from Caterer 5,977,624 5,406,491 Subscription from Members 60,611,514 74,791,460 Interest Received on Investments 24,822,862 18,209,223 Deferred Income out of Capital Grant in Aid 47,509,072 26,101,793 Other Income 10 19,464,312 11,969,499 TOTAL 243,773, ,732,264 EXPENDITURE Materials Consumed 11 44,109,732 12,521,122 Direct Expenses 12 47,522,535 36,711,253 Administrative Expenses 13 38,031,313 19,383,059 Interest & Financial Expenses , ,201 Depreciation 4 50,940,576 28,435,917 TOTAL 180,927,433 97,295,552 Surplus before prior period items 62,846,145 79,436,712 Prior Period Item-Expenses Total Surplus carried forward to General Reserve Fund 62,846,145 79,436,712 7

9 SCHEDULES TO THE ACCOUNTS AS ON 31ST MARCH, 2014 AMOUNT IN RS. PARTICULARS CURRENT YEAR PREVIOUS YEAR CAPITAL GRANT IN AID SCHEDULE-1 Opening Balance 457,710, ,412,039 Add : Grant Rec. during the Year 98,400,000 Less : Deferred Income for the current year (Refer Note No.-11) 47,509,072 26,101,793 Closing Balance 410,201, ,710,246 GENERAL RESERVE FUND SCHEDULE-2 Opening Balance as on ,378, ,942,028 Add : Surplus for the Year 62,846,145 79,436,712 Closing Balance as on ,224, ,378,739 8

10 SCHEDULES TO THE ACCOUNTS AS ON 31ST MARCH, 2014 AMOUNT IN RS. PARTICULARS CURRENT YEAR PREVIOUS YEAR SECURITY DEPOSIT SCHEDULE-3 Niti Agarwal (Accountants) 20,000 Vijendra Sharma (Accountants) 25,000 D.D.A. 15,000 15,000 Members 25,397,086 18,105,086 Zayca Foods 2,036,716 50,000 Party Booking 1,409, ,563 Staff Deposits 90,263 66,227 Metro Securities 124,714 25,000 Pollucan Engg. 496,762 50,000 RITES Ltd. 279, ,261 Diamond Security 100, ,000 Miraz Security 120, ,000 30,069,813 19,537,137 9

11 SCHEDULES TO THE ACCOUNTS FIXED ASSETS SCHEDULE AS ON SCHEDULE - 4 S. PARTICULARS Rate W.D.V. ADDITIONS SALE TOTAL DEPRECIATION W.D.V. NO. AS ON More than Less than DURING DURING AS ON days 180 days THE YEAR THE YEAR GRANTED ASSETS 1 BUILDINGS (K.G. MARG) 10% 9,692,050 9,692, ,205 8,722,845 BUILDINGS (VINAY MARG) 10% 264,173, ,173,412 26,417, ,756,071 2 LAND 0% 23,053,023 23,053,023 23,053,023 3 PLANT & MACHINERY AIR CONDITIONERS 15% 22,001,868 22,001,868 3,300,280 18,701,588 LIFTS 15% 6,690,066-6,690,066 1,003,510 5,686,556 KITCHEN EQUIPMENTS 15% 7,145,187 7,145,187 1,071,778 6,073,409 FIRE ALARM SYSTMES 15% 8,859,388-8,859,388 1,328,908 7,530,480 RO SYSTMES 15% 2,767,453 2,767, ,118 2,352,335 SQUASH COURT 15% 1,109,942 1,109, , ,451 SWIMMING POOL 15% 8,312,010 8,312,010 1,246,802 7,065,208 HEALTH EQUIPMENTS 15% 4,453,067 4,453, ,960 3,785,107 4 FURNITURE & FITTINGS ELECTRICAL FITTINGS 10% 48,895,646 48,895,646 4,889,565 44,006,081 FURNITURE & FIXTURES 10% 41,456,697 41,456,697 4,145,670 37,311,027 SOUND & AUDIO SYSTEMS 10% 5,664,095 5,664, ,410 5,097,685 STAGE LEGHTING 10% 2,041,484 2,041, ,148 1,837,336 SOLAR WATER HEATING SYSTEMS 80% 1,394,858 1,394,858 1,115, ,972 Sub Total (A) 457,710, ,710,246 47,509, ,201,174 10

12 SCHEDULES TO THE ACCOUNTS FIXED ASSETS SCHEDULE AS ON S. PARTICULARS Rate W.D.V. ADDITIONS SALE TOTAL DEPRECIATION W.D.V. NO. AS ON More than Less than DURING DURING AS ON days 180 days THE YEAR THE YEAR UNGRANTED ASSETS 1 BUILDINGS (K.G.MARG) 10% 5,283,809-5,283, ,381 4,755,428 2 PLANT & MACHINERY AIR CONDITIONERS 15% 768, , , ,501 BAR EQUIPMENTS 15% 5,662 5, ,813 COFFEE MACHINE 15% 85,225 85,225 12,784 72,441 DVD PLAYERS 15% 4,794 4, ,075 FIRE EXTINGUISHERS 15% 38,983 4,870 4,870 48,723 6,943 41,780 HEAT CONVERTER 15% 5,844 13,050 18,894 2,834 16,060 INSECT KILLER 15% 5,348 5, ,546 KITCHEN EQUIPMENTS 15% 1,102,966 9, ,112, , ,031 KTS (EPABEX) 15% 14,091 14,091 2,114 11,977 METAL DETECTOR 15% 1,487 1, ,264 MINI BOTTLE COOLER 15% 1,520 1, ,292 MUSIC SYSTEM 15% 19,072 19,072 2,861 16,211 PHOTO COPIER 15% 20,931 20,931 3,140 17,791 PROJECTOR 15% 55,639 55,639 8,346 47,293 SPORTS EQUIPMENTS 15% 40,931 40,931 6,140 34,791 WATER PURIFIER 15% 26,460 26,460 3,969 22,491 INVERTER 15% 14,351 2,500 11,851 1,778 10,073 STABILIZER 15% TELEVISION 15% 140,991 20, ,991 24, ,842 WATER COOLER & HEATER 15% 33,122 66,410 99,532 9,949 89,583 WATER DISPENSER 15% 5,453 5, ,635 WATER TANK 15% 1,439 1, ,223 WATER MOTOR 15% 18,100 18,100 2,715 15,385 CAMERA 15% JUICER & MIXER 15% HEALTH EQUIPMENTS 15% 1,590, ,781 2,153, ,062 1,830,685 CAR CALLING SYSTEM 15% 2,827 2, ,403 GRASS CUTTING MACHINE 15% 15,980 80,056 96,036 14,405 81,631 TELEPHONE EQUIPMENT 15% 41,387 10,800 52,187 7,018 45,169 MINI FRIDGE 15% 88,217 88,217 13,233 74,984 ETP PLANT 15% 2,475,902 2,475, ,385 2,104,517 3 FURNITURE & FITTINGS PAINTING 10% 233,049 23, ,549 25, ,894 FAX MACHINE 10% 9,093 9, ,184 FURNISHINGS 10% 142, ,834 14, ,551 AIR CURTAIN 10% 6,468 6, ,821 ELECTRICAL FITTINGS 10% 1,528, , ,056 2,171, ,589 1,968,824 FLOWER POTS 10% 30,470 30,470 3,047 27,423 FURNITURE & FIXTURES 10% 2,417, , ,172 8,000 4,261, ,123 3,884,212 EMERGENCY LIGHTS 10% 7,198 7, ,478 FAN & COOLER 10% 48,948 3,500 52,448 5,245 47,203 MOBILE PHONE 10% 22,607 22,607 2,261 20,346 OFFICE EQUIPMENTS 10% 18,274 3,150 21,424 2,142 19,282 CCTV CAMERA 10% 18,810 18,810 1,881 16,929 NAME PLATE 10% 68,181 72,476 6, ,537 14, ,127 SERVER TROLLY 10% 113, ,131 11, ,818 CCTV CAMERA 10% 1,300,000 1,300, ,000 1,170,000 4 LIBRARY BOOKS 60% 61, ,063 11, , ,072 72,935 5 Car 15% 227, ,811 34, ,639 6 CYCLE 15% 2,204 9,135 11,339 1,016 10,323 7 COMPUTER 60% 1,065, , ,250 1,375, , ,426 PRINTERS 60% 18,707 11,880 48,111 78,698 32,786 45,912 BILLING SOFT WARE 60% 73,937 73,937 44,362 29,575 SMART CARD READER 60% 47,250 47,250 14,175 33,075 8 SOLAR WATER SYSTEM 80% 7,605 7,605 6,084 1,521 Sub Total (B.) 15,341,913 6,252,487 1,655,243 10,500 23,239,143 3,431,504 19,807,639 Work-in-Progress (ETP PLANT K.G.MARG) 662, ,000 - Sub Total (C.) 662, ,000 - TOTAL (A+B+C) 473,714,159 6,252,487 1,655, , ,949,389 50,940, ,008,813 PREVIOUS YEAR (Rs.) 23,249,057 2,726, ,175,931 1, ,150,076 28,435, ,714, SCHEDULE - 4

13 SCHEDULES TO THE ACCOUNTS AS ON 31ST MARCH, 2014 AMOUNT IN RS. PARTICULARS CURRENT YEAR PREVIOUS YEAR INVESTMENTS SCHEDULE-5 FDR With :- Syndicate Bank 140,416, ,523,576 IDBI Bank 51,464,259 38,284,374 Standard Chartered Bank 159, ,711 Allahabad Bank 60,478,792 5,000,000 Allahabad Bank (Flexi) 18,425,279 5,950,000 Union Bank of India (Flexi) 10,328,000 18,444,000 Bonds of :- - BOI ,873,353 3,873,353 - SBI ,061,997 15,061,997 - IOB ,086,848 7,086,848 - UBI ,065,521 5,065,521 Mutual Funds :- Birla Gilt Ltd. 1,000,000 1,000,000 Frank Templeton India Gilt Fund 1,100,000 1,100,000 Tata Mutual Fund 1,600,000 1,600,000 Interest Accrued 5,322,634 1,642, ,382, ,792,181 CASH & BANK BALANCES SCHEDULE-6 Cash in hand 372, ,680 Standard Chartered Bank 142, ,625 IDBI Bank 7,941,507 14,570,248 ICICI Bank 1,496,095 1,470,744 Allahabad Bank C/A 3,054,833 9,722,975 Allahabad Bank S/A 840,599 2,210,517 State Bank of India 2,330,506 Union Bank of India S/A 9,393 14,358,181 16,187,428 42,731,971 12

14 SCHEDULES TO THE ACCOUNTS AS ON 31ST MARCH, 2014 AMOUNT IN RS. PARTICULARS CURRENT YEAR PREVIOUS YEAR LOANS & ADVANCES SCHEDULE-7 Advances recoverable in cash or in kind or for value to be received Tax Deducted at Source 7,247,511 5,331,081 Over-due from Members. 259,453 Security Deposit with various Agencies 900, ,960 Prepaid Expenses 556,979 10,481 Service Tax (Input) 653, ,609 Other Advances 1,676,751 12,000 5,007,613 3,525, ,295,495 6,637,131 CURRENT LIABILITIES & PROVISIONS SCHEDULE-8 Sundry Creditors 23,086,978 38,013,262 Expenses Payable 5,007,613 3,525,664 Provision for Gratuity 1,621,895 1,231,040 Advance from Members 49,756,591 40,801,463 Deposit from Waiting Members 1,481,530 1,743,530 80,954,607 85,314,959 EXPENSES PAYABLE SCHEDULE-8A Statutory liabilities VAT Payable 1,577, ,883 TDS Payable 371,070 32,957 Service Tax Payable 221, ,264 ESI Payable 5,344 5,803 EPF Payable 59,928 59,930 Luxury Tax Payable , ,696 Others Audit Fees 12,360 11,236 Electricity Charges 100, ,920 Telephone Expenses 8,692 26,560 Water Charges 139,440 38,831 Security Expenses 104,551 Housekeeping Expenses 158, ,148 Advertising Expenses 28,265 Repair & Maintenance 34,255 Salary Payable 27,740 Others 2,201, ,625

15 SCHEDULES TO THE ACCOUNTS AS ON 31ST MARCH, 2014 AMOUNT IN RS. PARTICULARS CURRENT YEAR PREVIOUS YEAR SALES SCHEDULE-9 Food 69,709,809 32,198,638 Liquor & Non-Liquor 15,678,384 8,055,159 85,388,193 40,253,797 OTHER INCOME SCHEDULE-10 Billiards Charges 31,355 27,668 Receipt Application & Tender Forms 17,320 57,480 Guest Charges 867, ,260 Health Club Charges 1,885, ,674 Late Fee 602, ,830 Party Room Charges 12,429,724 5,658,851 Registration & Processing Fee 225,444 1,682,636 Admission & Re-admission Fee 595,000 1,274,050 Commission from Decoration & Tentage 1,082, ,495 Scrap Sales 38, ,729 Sale of Coupons 877, ,825 Party Cancellation Charges 460, ,082 Discount Received from vendors 153,314 Revenue from other activities 352, ,606 19,464,312 11,969,499 14

16 SCHEDULES TO THE ACCOUNTS AS ON 31ST MARCH, 2014 AMOUNT IN RS. PARTICULARS CURRENT YEAR PREVIOUS YEAR MATERIALS CONSUMED SCHEDULE-11 Opening Stock 2,709,289 1,093,892 Purchases 43,620,102 14,136,520 46,329,391 15,230,412 Closing Stock 2,219,659 2,709,289 44,109,732 12,521,122 PURCHASES SCHEDULE-11 A Food and Services 34,367,693 5,672,006 Liquor 6,909,038 6,278,531 Non Liquor 2,343,371 2,185,983 43,620,102 14,136,520 DIRECT EXPENSES SCHEDULE-12 Bar License Fees 105, ,198 Profit Sharing on Bar Sales 1,404, ,810 Consumable Stores 362, ,667 Cooking & Catering Expenses 26,886,500 24,298,846 Party Decoration Expenses 214,877 Electricity Expenses 10,916,355 7,090,685 Housekeeping Charges 6,514,849 3,478,937 Health Club Expenses 1,118, ,110 47,522,535 36,711,253 15

17 SCHEDULES TO THE ACCOUNTS AS ON 31ST MARCH, 2014 AMOUNT IN RS. PARTICULARS CURRENT YEAR PREVIOUS YEAR ADMINISTRATIVE EXPENSES SCHEDULE-13 A.G.M. Expenses 53, ,617 Advertisement 82, ,446 Audit Fees 12,360 11,236 Billing Software 760,450 Conveyance 92,394 96,056 Event Management Expenses 883, ,143 Salary & Honorarium 10,257,740 7,551,664 Smart Card Expenses 591,505 SMS & s Expenses 309,186 Hospitality Charges 93,024 Insurance Charges 104,770 28,692 Legal & Professional Charges 529, ,450 Miscellaneous Expenses 622, ,851 News Paper & Periodicals 49,692 38,818 Postage & Courier 66,970 38,603 Horticulture Expenses 266, ,463 Printing & Stationery 651, ,361 Property Tax (NDMC) 4,898,531 Repairs & Maintenance 10,633,147 4,068,492 Staff Welfare 95,431 94,032 Security Charges 5,880,398 2,247,712 Telephone Expenses 446, ,383 Vehicle Running & Maintenance 170, ,435 Water Expenses 480,918 1,593,605 38,031,313 19,383,059 FINANCE & INTEREST CHARGES SCHEDULE-14 Bank Charges 323, , , ,201 16

18 SCHEDULE -15 SIGNIFICANT ACCOUNTING POLICIES & NOTES FORMING PART OF THE ACCOUNTS SIGNIFICANT ACCOUNTING POLICIES 1. Basis of Accounting: The financial statements are prepared under the historical cost convention, on accrual basis, in accordance with Generally Accepted Accounting Principles and to comply with the applicable accounting standards except in cases enumerated in para 6 of Accounting Policies. The accounting policies have been consistently applied by the Institute unless otherwise stated. 2. Fixed Assets: a) Fixed assets are stated at cost of acquisition / construction less accumulated depreciation. Cost includes purchase price and all other costs attributable of bringing the assets to the working condition for intended use. b) Expenses attributable to fixed assets are added to the cost of the assets if it increases the capacity/performance of the assets as assessed earlier. 3. Depreciation Depreciation on fixed assets is computed according to Written Down Value (WDV) Method based on depreciation rates as provided in the Income Tax Act, 1961, except the office equipments, which are classified under the head Furniture & Fixture and the rate applicable thereto, is charged. 4. Grant in Aid Grant received from Government of India for acquiring fixed assets is accounted as Capital Grant in Aid and shown in the liability side. The depreciation charged on the assets funded out the grant in aid is reduced from cost of assets as well as from the grant in aid. 5. Inventories a) Inventory comprising of Liquor and Beverages are valued at cost or net realizable value whichever is lower. The cost of inventories is determined on First in First out (FIFO) basis. b) Value of closing stock is taken as certified by the Management. 6. Revenue Recognition Revenue is recognized as under a) Sales of food and beverages are accounted for net of sales returns and Value Added Taxes. b) Subscription received from life time members has been amortized over a period of 20 years based on the estimated remaining average life of members. c) Interest on investments is recognized on a time proportion basis. 7. Investments Institute has invested its surplus funds in Fixed Deposits with Banks, Bonds and Mutual Funds etc. The investments are carried at cost. 17

19 8. Employees retirement benefits a) Gratuity liability due to the employees has been measured giving due consideration to eligibility /entitlements of each employee and the provision thereof has been made. b) Employer s contribution towards provident fund and E.S.I. is charged to the Income and Expenditure Account. NOTES FORMING PART OF ACCOUNTS 9. The title deed of the land, at Vinay Marg, Chankayapuri is in process of evaluation by Ministry of Urban & Development. 10. During the year, an amount of Rs. 95,940/- representing unclaimed credit balance, have been credited to Income & Expenditure Account. 11. As per Accounting Standard 12 issued by Institute of of India, the depreciation chargeable on the assets purchased out of grant amount is required to be reduced from the cost of assets as well as from the grant in aid received. During the year, depreciation of Rs. 4,75,09,072/- chargeable for the assets purchased out of grant has been reduced from the Grant In aid as well as from block of assets. The W.D.V of the assets purchased out of Grant In aid as on 31st March 2014 is Rs. 41,02,01,174/- which has been reconciled with the cumulative amount of Grant In aid received (after adjusting for depreciation). 12. Balances lying under Creditors, Security Deposits, Loans and Advances are subject to confirmation/ reconciliation. 13. Income of Institute is exempted u/s 12A of the Income Tax Act, 1961 and hence no provision for Income Tax is required. 14. Institute has made investments to the tune of Rs. 37,00,000/- in mutual funds. In the earlier years mutual funds have declared dividends and the same was re-invested in terms of their plan. Divided declared and re-invested in earlier years and during the financial year were not considered. However, the same have been redeemed at Rs. 67,35, in the month of may The different method of Accounting with regard to commission on sales was followed at K.G.Marg & Vinay Marg. However the same have been corrected w.e.f and similar treatment being followed at both places. 16. Previous year s figures have been regrouped/rearranged wherever necessary in order to correspond with current year s figures. 17. Figures in the Balance Sheet, Income & Expenditure Account and Schedules thereon have been rounded off to the nearest rupee. 18