Introduction
A Fund is used to capture activities/ group of activities for which separate books of accounts are required to be maintained. The concept of Funds brings accountability and better transparency
Various Funds are setup in ULB for meeting certain objectives. Income and expenditure under these funds are to be identified and disclosed separately.
Fund Accounting is a self-contained accounting with its own assets, liabilities, revenues, expenditures and fund balance.
Data Table
*Sr. No | *Name | *Code | Identifier | *Level | Parent Fund |
|---|---|---|---|---|---|
1 | Municipal Fund | 01 | 1 | 0 | Nil |
2 | Grant Fund | 02 | 2 | 0 | Nil |
3 | Public Fund | 03 | 3 | 0 | Nil |
4 | Pension Fund | 04 | 4 | 0 | Nil |
Procedure
Data Definition
Sr No: Defines the serial no of the line item.
Name: To indicate the Fund name, if there is a multiple fund and by following the Fund Accounting method to record the transaction user can select a particular Fund.
Code: The unique code give to the individual fund.
Identifier: A single character or number which is used as an unique identification for the fund. This identifier is used in the voucher number format.
Level: The Funds can be defined in the tree structure, so the Level indicates the structure in which the funds would be setup. Root nodes will be level 0 and the next level funds will have value as 1 and the next level as value 2.
Parent Fund: If the ULB’s using multiple Funds then a Hierarchy of “Parent - Child “can be setup for the Fund, so under each Parent Fund a multiple child funds can be setup.
Steps to fill data
Identify Funds that exists at a ULB level.
Download both the attached template and to updated all the details as per the above information in the empty template provided. The sample data template can be used as a reference to fill in the data.
Read through all the information above before updating the template with relevant information.
Validations
All the fields with * sign are mandatory to be filled in. Without this information, the system configurations cannot be executed.
Fund Code should to be unique.
The Length of the Code should not exceed 50 characters.
The Length of the Name should not exceed 50 characters
Attachments
Refer to “Fund” in the uploaded template.
For sample data reference, refer to the uploaded “sample date” file.