Rule 222 of The General Financial Rules 2017 Sale Account Preparation
Original Rule Text
Visual Summary
Mandatory for disposed goods.
Applies to all items sold or auctioned.
Account must be duly signed by supervisor.
Executive Summary
Rule 222 of The General Financial Rules, 2017, mandates the meticulous preparation of a sale account for all government goods that have been disposed of. This account, which must be in Form GFR 11, serves as a crucial record of the transaction and requires the official signature of the officer who supervised the sale or auction, ensuring accountability and transparency in the disposal process.
In-Depth Analysis of the Rule
Introduction: Rule 222 is a concise yet critical provision within the General Financial Rules, 2017, focusing on the proper documentation of asset disposal. It underscores the government’s commitment to maintaining transparent and auditable records for all transactions involving public property, even when it is being sold or auctioned off.
Breakdown of the Rule:
- Requirement for a Sale Account: The rule explicitly states that a ‘sale account should be prepared’. This is a mandatory step for any disposal of goods, ensuring a formal record exists.
- Scope of Application: It applies to ‘goods disposed of’, encompassing items sold through various methods such as direct sale or auction. This covers a wide range of government assets, from surplus equipment to unserviceable items.
- Prescribed Form: The specific form to be used is ‘Form GFR 11’. This standardization ensures uniformity in reporting across different departments and facilitates easier auditing and record-keeping.
- Supervisory Attestation: A key element is that the account must be ‘duly signed by the officer who supervised the sale or auction’. This signature acts as an official certification that the disposal process was conducted under proper oversight and in accordance with established procedures.
Practical Example: Imagine a government department decides to auction off old office furniture and computers that are no longer in use. After the auction concludes and the goods are sold, the officer who oversaw the entire auction process (from advertising to final handover) is responsible for preparing a detailed sale account using Form GFR 11. This form would list all items sold, their respective sale prices, and the details of the purchasers. Once completed, the supervising officer must duly sign the Form GFR 11, certifying the accuracy and integrity of the sale transaction. This signed document then becomes a part of the official records, available for audit and future reference.
Related Provisions
To fully understand the context of Rule 222, it is beneficial to refer to other rules governing the disposal of government property and related documentation:
- Rule 217 of The General Financial Rules 2017 Disposal of Goods: This rule outlines the general principles and procedures for declaring goods as surplus, obsolete, or unserviceable and their subsequent disposal.
- Rule 220 of The General Financial Rules 2017 Disposal through Auction: This rule details the specific procedures to be followed when disposing of goods through public auction, including publicity, bid acceptance, and payment.
Learning Aids
Mnemonics
- S.A.F.E. G.O.O.D.S.: Sale Account Form Eleven, Goods Officer Oversees Disposal Signature.
Process Flowchart
Multiple Choice Questions (MCQs)
1. What is the primary purpose of preparing a sale account under Rule 222 of the General Financial Rules, 2017?
- A) To determine the market value of goods.
- B) To record the transaction of disposed goods for accountability.
- C) To calculate the profit margin from the sale.
- D) To inform the public about government sales.
Show Answer
Correct Answer: B) To record the transaction of disposed goods for accountability.
2. Which specific form is mentioned for preparing a sale account under Rule 222 of the General Financial Rules, 2017?
- A) Form GFR 10
- B) Form GFR 12
- C) Form GFR 11
- D) Form GFR 9
Show Answer
Correct Answer: C) Form GFR 11
3. Who is required to sign the sale account for goods disposed of, according to Rule 222 of the General Financial Rules, 2017?
- A) The Head of the Department.
- B) The Accounts Officer.
- C) The officer who supervised the sale or auction.
- D) The purchaser of the goods.
Show Answer
Correct Answer: C) The officer who supervised the sale or auction.
4. Rule 222 of the General Financial Rules, 2017 specifically applies to the preparation of a sale account for what?
- A) Goods procured by the government.
- B) Goods transferred between government departments.
- C) Goods disposed of by sale or auction.
- D) Goods held in inventory for future use.
Show Answer
Correct Answer: C) Goods disposed of by sale or auction.
5. What is the implication if a sale account under Rule 222 of the General Financial Rules, 2017 is not ‘duly signed’ by the supervising officer?
- A) The sale is automatically nullified.
- B) It may indicate a lack of proper oversight and accountability for the transaction.
- C) The goods must be re-auctioned.
- D) The officer will receive a bonus for efficiency.
Show Answer
Correct Answer: B) It may indicate a lack of proper oversight and accountability for the transaction.
Frequently Asked Questions
What is a sale account as per Rule 222 of the General Financial Rules, 2017?
A sale account, as per Rule 222, is a formal document prepared using Form GFR 11 to record the details of government goods that have been disposed of through sale or auction. It serves as an official record of the transaction for accountability purposes.
Why is the supervising officer’s signature important on the sale account under Rule 222 of the General Financial Rules, 2017?
The supervising officer’s signature is crucial as it certifies that the sale or auction process was conducted under their direct oversight, in accordance with prescribed rules and procedures. This ensures transparency, validates the transaction, and establishes accountability for the disposal of government assets.
Does Rule 222 of the General Financial Rules, 2017 specify the method of disposal (e.g., auction, tender)?
No, Rule 222 itself does not specify the method of disposal. It broadly refers to