Rule 211 of The General Financial Rules 2017 Lists and Accounts
Original Rule Text
Visual Summary
Officer-in-charge must keep item-wise lists and accounts for goods and materials.
Enables checking actual balances against book balances at any time.
Separate accounts for fixed assets, consumables, library books, and historical assets.
Executive Summary
Rule 211 of the General Financial Rules, 2017 mandates store officers to maintain detailed item-wise lists and accounts for all goods and materials under their charge. This ensures accurate reconciliation of physical stock with recorded balances. It also specifies the need for separate accounts for different asset categories, including fixed assets (GFR-22), consumables (GFR-23), library books (GFR-18), and historical/artistic assets (GFR-24), allowing for customization by Ministries/Departments as required.
In-Depth Analysis of the Rule
Introduction: Rule 211 is a cornerstone of effective inventory management within government departments, ensuring transparency, accountability, and efficient resource tracking. It lays down the fundamental requirements for maintaining accurate records of all goods and materials.
Breakdown of the Rule:
- Sub-rule (i) – General Requirement: The Officer-in-charge of stores is obligated to maintain comprehensive item-wise lists and accounts for all goods and materials under their control. This is crucial for enabling a continuous check of actual physical balances against recorded book balances. The specific format of these stock accounts should be flexible, adapting to the nature of the goods, the frequency of transactions, and the unique requirements of the respective Ministries or Departments.
- Sub-rule (ii) – Specific Account Categories: The rule further specifies that separate accounts must be maintained for distinct categories of assets, each with its designated form:
- Fixed Assets (GFR-22): This includes items such as plant, machinery, equipment, furniture, and fixtures.
- Consumables (GFR-23): This covers items like office stationery, chemicals, and maintenance spare parts.
- Library Books (GFR-18): Dedicated accounts for library collections.
- Assets of Historical/Artistic Value (GFR-24): For valuable items held by museums or government departments.
- Note: The rule explicitly states that these prescribed forms can be supplemented with additional details by Ministries/Departments as needed, allowing for tailored record-keeping.
Practical Example: Consider a Ministry of Culture department responsible for managing various assets. Under Rule 211, the store officer would use Form GFR-22 to track office furniture and computer equipment, Form GFR-23 for stationery and cleaning supplies, Form GFR-18 for the department’s reference library, and crucially, Form GFR-24 for valuable historical artifacts and artworks. This systematic approach ensures that each type of asset is accounted for appropriately, facilitating regular reconciliation and preventing loss or misuse.
Related Provisions
Understanding Rule 211 is enhanced by considering these related provisions:
- Rule 208 of The General Financial Rules 2017 Receipt of Goods from Suppliers: Details the procedure for receiving goods from external suppliers.
- Rule 209 of The General Financial Rules 2017 Internal Goods Movement: Outlines the process for receiving and issuing materials between internal divisions.
- Rule 210 of The General Financial Rules 2017 Custody of Goods: Addresses the safe custody and proper storage of goods and materials.
- Rule 213 of The General Financial Rules 2017 Physical Verification of Inventory: Prescribes the procedures for physical verification of fixed assets and consumables.
Learning Aids
Mnemonics
- L.A.S.T. C.H.A.N.C.E. for Inventory:
Lists & Accounts: Maintain detailed records.
Separate Types: Categorize assets (Fixed, Consumables, Library, Artistic).
Check Handling: Ensure proper custody and reconciliation.
Accurate Numbers: Match physical stock with book balances.
Customizable Entries: Forms can be supplemented.
Process Flowchart
Multiple Choice Questions
1. According to Rule 211 (i) of the General Financial Rules, 2017, what is the primary responsibility of the Officer-in-charge of stores regarding goods and materials?
- A) To dispose of surplus items annually.
- B) To maintain item-wise lists and accounts and prepare accurate returns.
- C) To conduct monthly auctions for unserviceable goods.
- D) To ensure all goods are insured against all risks.
Show Answer
Correct Answer: B) To maintain item-wise lists and accounts and prepare accurate returns.
2. Which form is specified under Rule 211 (ii)(a) of the General Financial Rules, 2017 for maintaining accounts of Fixed Assets?
- A) GFR-18
- B) GFR-23
- C) GFR-22
- D) GFR-24
Show Answer
Correct Answer: C) GFR-22
3. For which type of assets are accounts to be kept in Form GFR-18, according to Rule 211 (ii)(c) of the General Financial Rules, 2017?
- A) Consumables
- B) Library books
- C) Historical/artistic value assets
- D) Fixed assets
Show Answer
Correct Answer: B) Library books
4. Rule 211 of the General Financial Rules, 2017 states that the form of stock accounts should be determined with reference to what factors?
- A) Only the value of the goods and materials.
- B) The nature of goods, frequency of transactions, and special requirements of Ministries/Departments.
- C) The availability of digital accounting software.
- D) The number of staff in the stores department.
Show Answer
Correct Answer: B) The nature of goods, frequency of transactions, and special requirements of Ministries/Departments.
5. What is the purpose of maintaining item-wise lists and accounts as per Rule 211 (i) of the General Financial Rules, 2017?
- A) To facilitate quick disposal of unserviceable items.
- B) To enable checking actual balances with book balances at any point of time.
- C) To determine the market value of all goods.
- D) To prepare annual audit reports for external auditors.
Show Answer
Correct Answer: B) To enable checking actual balances with book balances at any point of time.
Frequently Asked Questions
What is the primary purpose of Rule 211 of the General Financial Rules, 2017?
The primary purpose of Rule 211 of the General Financial Rules, 2017 is to mandate the maintenance of detailed item-wise lists and accounts for all goods and materials under the charge of an Officer-in-charge of stores, enabling accurate reconciliation of physical stock with recorded balances.
What specific types of assets require separate accounts under Rule 211 of the General Financial Rules, 2017?
Under Rule 211 of the General Financial Rules, 2017, separate accounts are required for Fixed Assets (GFR-22), Consumables (GFR-23), Library books (GFR-18), and Assets of historical/artistic value (GFR-24).
Can the prescribed forms for accounts under Rule 211 of the General Financial Rules, 2017 be modified?
Yes, the Note under Rule 211 of the General Financial Rules, 2017 explicitly states that these forms can be supplemented with additional details by Ministries/Departments as required, allowing for customization.
Key Takeaways
- Rule 211 mandates the Officer-in-charge of stores to maintain comprehensive item-wise lists and accounts for all goods and materials.
- The rule ensures the ability to check actual physical balances against recorded book balances at any given time.
- It requires separate accounts for distinct asset categories: Fixed Assets (GFR-22), Consumables (GFR-23), Library Books (GFR-18), and Historical/Artistic Assets (GFR-24).
- Ministries and Departments have the flexibility to supplement the prescribed forms with additional details to meet their specific requirements.
Conclusion
Rule 211 of the General Financial Rules, 2017 is fundamental to sound financial management, establishing a clear framework for inventory control. By mandating detailed record-keeping and categorization of assets, it underpins accountability, minimizes loss, and ensures that government resources are managed with utmost efficiency and transparency. Adherence to this rule is vital for maintaining the integrity of public asset management.