Finance Standing Committee
Edavaka Grama Panchayat Finance Standing Committee Members
1
Musthafa Thayyullathil
Vice President & Chairman, Finance Standing Committee
💰 Key Responsibilities of the Finance Standing Committee
As per the Kerala Panchayat Raj Act, the Finance Standing Committee is the key committee responsible for managing and overseeing the financial affairs of the Panchayat.
📊 Budget and Financial Management
- Assist in preparing the Panchayat budget.
- Examine the annual budget and revised budget and make recommendations.
- Suggest measures for increasing revenue.
- Improve the efficient collection of taxes, fees and cess.
- Examine the Panchayat's income and expenditure accounts.
- Oversee financial transactions.
📑 Audit and Financial Oversight
- Examine audit reports and audit observations and recommend follow-up action.
- Ensure that Panchayat funds are utilized lawfully and efficiently.
- Examine matters related to the financial management of the Panchayat's properties and assets.
- Provide necessary directions for financial control and cost reduction.
- Provide suggestions for identifying financial resources required for development projects.
- Perform other financial matters assigned by the Panchayat Committee.
ℹ️ Importance of the Finance Standing Committee
The Finance Standing Committee plays a crucial role in ensuring financial discipline and transparency in the Panchayat. Its main objective is to ensure financial stability and the efficiency of development activities through functions such as budget preparation, revenue enhancement, lawful utilization of funds, examination of audit reports, expenditure control, and identification of financial resources for development projects.
