Finance Standing Committee
The Finance Standing Committee is the principal committee in the Panchayat responsible for handling all financial matters, including finance, taxation, audit, budget, and general administration.
1. Structure
| Role | Details |
|---|---|
| Chairman | Generally, the Vice President of the Panchayat is the Chairman of the Finance Standing Committee. (This applies to the Vice President at the Grama/Block/District Panchayat level or the Deputy Mayor in Municipalities). |
| Members | Some of the other elected members of the Panchayat Council serve as members of this committee. A member can only be a part of one Standing Committee at a time. |
| Secretary | The Panchayat Secretary or the head of the respective body acts as the ex-officio Secretary, attending the committee meetings and implementing the decisions. |
2. Main Duties and Powers
The key subjects and responsibilities handled by the Finance Standing Committee are as follows:
| Subject | Duties |
|---|---|
| Budget Preparation | Preparing the Panchayat's Budget Estimate for the next financial year and presenting it before the Council for approval. |
| Taxation & Finance | Monitoring the timely assessment and collection of taxes, fees, rent, and other income due to the Panchayat, and supervising these revenue streams. |
| Accounts and Audit | Regularly inspecting the Panchayat's income and expenditure accounts, conducting monthly audits, and reviewing records of monthly demand, collection, and balance. |
| General Administration Oversight | Handling General Administration matters that are not allocated to the other standing committees, in addition to finance, tax, audit, and budget. |
| Utilisation of Grants | Ensuring that government grants are received on time and are properly utilised for the purposes sanctioned in the budget. |
| Financial Control | Verifying and ensuring that the amounts the Panchayat intends to spend are within the approved budget provisions and that sufficient funds are available for the expenditure. |
| Tax Appeals | Examining and resolving disputes and appeals related to taxation. |