Annual Financial Statment 2023-24
Thachanattukara Grama Panchayat Annual Financial Report (2023–24) – Summary
During the financial year 2023–24, Thachanattukara Grama Panchayat recorded significant revenue and expenditure while implementing various development, welfare, and infrastructure projects.
1. Revenue Position
The Panchayat's total income for the year was ₹13.51 crore. The largest share of this income came from government grants and scheme allocations amounting to ₹12.43 crore. Tax revenue contributed ₹53.37 lakh, while fees and user charges generated ₹45.97 lakh, and interest income amounted to ₹7.06 lakh.
Major Sources of Revenue
- Government grants and scheme funds – ₹12.43 crore
- Tax revenue – ₹53.37 lakh
- Fees and user charges – ₹45.97 lakh
- Interest income – ₹7.06 lakh
2. Expenditure Position
The Panchayat's total expenditure during the year was ₹14.25 crore.
Major Areas of Expenditure
- Employee salaries and related expenses – ₹1.03 crore
- Administrative expenses – ₹14.32 lakh
- Operations and maintenance expenses – ₹26.58 lakh
- Service sector projects – ₹3.34 crore
- Productive sector projects – ₹57.32 lakh
- Infrastructure development projects – ₹99.46 lakh
- State-sponsored schemes and transferred institutions – ₹3.80 crore
3. Financial Result
At the end of the financial year, the Panchayat reported a deficit of ₹76.23 lakh, primarily because total expenditure exceeded total income.
4. Assets and Liabilities Position
As per the Balance Sheet as of 31 March 2024, the Panchayat's total assets and liabilities stood at ₹12.49 crore.
Major Assets
- Cash and bank balance – ₹3.90 crore
- Prepaid expenses – ₹1.98 crore
- Infrastructure and development assets – ₹10.59 crore
Major Liabilities
- KURDFC loan – ₹2.46 crore
- Funds earmarked for specific purposes – ₹1.56 crore
- Reserve funds – ₹11.34 crore
5. Cash Flow Analysis
The Panchayat's cash and bank balance increased from ₹2.32 crore at the beginning of the year to ₹3.90 crore at the end of the year, representing a net increase of ₹1.58 crore.
6. Key Development Achievements
During 2023–24, the Panchayat made significant investments in the following sectors:
- Agricultural development
- Dairy and animal husbandry programmes
- Educational development
- Healthcare services
- Drinking water projects
- Sanitation and waste management initiatives
- Housing schemes
- Anganwadi development
- Welfare programmes for senior citizens and persons with disabilities
Conclusion
Although Thachanattukara Grama Panchayat recorded a deficit of ₹76.23 lakh during the financial year 2023–24 due to expenditure exceeding income, the Panchayat maintained a strong financial foundation. A cash and bank balance of ₹3.90 crore, substantial reserve funds, and continued investments in development assets demonstrate its commitment to sustainable growth, infrastructure improvement, and public welfare.