Rule 237 of The General Financial Rules 2017 Time Schedule for Annual Accounts Submission
Original Rule Text
Visual Summary
By 30th June
By 31st October
By 31st December
Executive Summary
Rule 237 of The General Financial Rules, 2017, establishes a crucial time schedule for autonomous bodies regarding the submission of their annual accounts and reports. It mandates that approved and authenticated annual accounts must be made available to the concerned Audit Office by June 30th. Subsequently, the final Statutory Audit Report (SAR) with the audit certificate should be issued to the autonomous body or government concerned by October 31st. Finally, the Annual Reports and Audited Accounts must be submitted to the nodal Ministry by December 31st for timely presentation to the Parliament. This rule ensures transparency, accountability, and efficient financial oversight of autonomous bodies.
In-Depth Analysis of the Rule
Rule 237 of The General Financial Rules, 2017, provides a clear and structured timeline for the financial reporting cycle of autonomous bodies, ensuring that their financial health and operations are subject to regular scrutiny and parliamentary oversight. This rule is fundamental to maintaining fiscal discipline and transparency within government-funded entities.
Breakdown of the Rule
- Submission of Annual Accounts for Audit (30th June): Autonomous bodies are required to make their approved and authenticated annual accounts available to the relevant Audit Office by June 30th. This marks the commencement of the audit process by the Comptroller and Auditor General of India.
- Issue of Final SAR with Audit Certificate (31st October): The Audit Office, after conducting its audit, must issue the final Statutory Audit Report (SAR) along with the audit certificate to the autonomous body or the government concerned by October 31st. This deadline ensures that the audit findings are finalized within a reasonable timeframe.
- Submission of Annual Reports and Audited Accounts to Nodal Ministry (31st December): The autonomous body must then submit its Annual Reports and the newly audited accounts to its nodal Ministry by December 31st. The nodal Ministry is responsible for ensuring these documents are laid before the Parliament, completing the cycle of public accountability.
Practical Example
Consider the ‘National Research Institute (NRI)’, an autonomous body. For its financial year ending March 31, 2025, NRI must ensure its annual accounts are fully prepared, approved, and submitted to the Audit Office by June 30, 2025. The Audit Office will then conduct its review and must issue the final SAR and audit certificate to NRI by October 31, 2025. Following this, NRI is obligated to compile its Annual Report, incorporating the audited accounts, and submit it to its administrative Ministry by December 31, 2025. This allows the Ministry sufficient time to present NRI’s performance and financial standing to the Parliament for review.
Related Provisions
Understanding Rule 237 is enhanced by examining related provisions within the General Financial Rules, 2017:
- Rule 236 of The General Financial Rules 2017 Audit of Accounts: This rule details the audit requirements for grantee institutions and organizations, providing context for the audit certificate mentioned in Rule 237.
- Rule 238 of The General Financial Rules 2017 Utilization Certificates: This rule outlines the necessity and procedure for submitting utilization certificates, which are crucial for ensuring proper use of grants and often accompany annual accounts.
- Rule 71 of The General Financial Rules 2017 Preparation and Presentation of Accounts: This rule provides general guidelines for the preparation and presentation of Union Government accounts, forming the broader framework for the specific timelines in Rule 237.
Learning Aids
Mnemonics
- J.O.D. (June, October, December): Remember the sequence of deadlines: June for Accounts to Audit, October for Audit Certificate, December for Reports to Parliament.
Process Flowchart
Multiple Choice Questions
1. According to Rule 237 of the General Financial Rules, 2017, by what date must approved and authenticated annual accounts be made available to the concerned Audit Office?
- A) 31st March
- B) 30th June
- C) 31st October
- D) 31st December
Show Answer
Correct Answer: B) 30th June
2. What is the deadline for the issue of the final SAR (Statutory Audit Report) with the audit certificate to the Autonomous Body/Government concerned, as per Rule 237 of the General Financial Rules, 2017?
- A) 30th June
- B) 31st July
- C) 31st October
- D) 31st December
Show Answer
Correct Answer: C) 31st October
3. Rule 237 of the General Financial Rules, 2017, specifies that Annual Reports and Audited Accounts must be submitted to the nodal Ministry for timely submission to Parliament by which date?
- A) 30th September
- B) 31st October
- C) 30th November
- D) 31st December
Show Answer
Correct Answer: D) 31st December
4. What does Rule 237 of the General Financial Rules, 2017, primarily address?
- A) Procedures for procurement of goods
- B) Guidelines for grants-in-aid
- C) Time schedule for submission of annual accounts and reports
- D) Rules for public debt management
Show Answer
Correct Answer: C) Time schedule for submission of annual accounts and reports
5. Which entity is responsible for making annual accounts available to the audit office by June 30th under Rule 237 of the General Financial Rules, 2017?
- A) The Nodal Ministry
- B) The Comptroller and Auditor General of India
- C) The Autonomous Body
- D) The Parliament
Show Answer
Correct Answer: C) The Autonomous Body
Frequently Asked Questions
What is the primary purpose of Rule 237 of the General Financial Rules, 2017?
The primary purpose of Rule 237 of the General Financial Rules, 2017, is to establish a clear and mandatory time schedule for autonomous bodies to submit their annual accounts and reports, ensuring timely audit and parliamentary oversight.
Who is responsible for issuing the final audit certificate under Rule 237 of the General Financial Rules, 2017?
The Comptroller and Auditor General of India, through the concerned Audit Office, is responsible for issuing the final Statutory Audit Report (SAR) with the audit certificate to the Autonomous Body/Government concerned by October 31st.
What documents are submitted to the nodal Ministry by December 31st as per Rule 237 of the General Financial Rules, 2017?
As per Rule 237 of the General Financial Rules, 2017, the Annual Reports and Audited Accounts are to be submitted to the nodal Ministry by December 31st for timely submission to the Parliament.
Key Takeaways
- Rule 237 sets a strict timeline for financial reporting by autonomous bodies.
- Annual accounts must be ready for audit by June 30th.
- The final audit certificate is to be issued by October 31st.
- Annual reports and audited accounts are due to the nodal Ministry by December 31st for parliamentary tabling.
Conclusion
Rule 237 of The General Financial Rules, 2017, is a cornerstone for ensuring accountability and transparency in the financial operations of autonomous bodies. By establishing clear and non-negotiable deadlines for the submission of accounts and reports, it facilitates timely auditing and parliamentary scrutiny, thereby upholding the principles of sound financial governance. Adherence to this schedule is vital for the effective functioning and oversight of these entities.