13. what is the main characteristic of budget
sheet? introduce its three parts.
Answers
The main characteristics of budget sheet are given below:
1. Control of budget from misuse, manipulation and embezzlement of budget.
2.
3.
The parts of budget sheet are described below:
1. Annual Appropriation Part
The upper part of the budget sheet which depicts the annual budget allocation for each budget head/ sub head. In this section annual appropriation for each budget head is mentioned. All transfer of budget such as inter- head and inter-office transfer shown in this part. If supplementary budget is received it is also to be mentioned in this part in the concerned head. It is not necessary to prepare journal voucher for the recording of transactions in this part.
2. Budget Release Part
This section of the budget sheet depicts the amount of budget release for each budget head to date out of the appropriation amount. The amounts released for each head are mentioned in the concerned column. Supplementary and additional budget release and transfer of budget also recorded under the concerned budget heads or sub heads. This part is maintained with the help of journal voucher.
3. Budget Expenditure Part
Budget expenditure is the regular phenomenon of the spending offices. Expenditure made in any budget head must be supported by journal voucher for posting into this section of budget sheet. Payments which are not with in the budget heads are not required to post into expenditure section of budget sheet