ANNUAL FINANCIAL STATEMENT 2024-2025
An Annual Financial Statement in a Panchayat is a detailed yearly report that shows the Panchayat’s financial position for a particular financial year.
It contains:
- Total income received by the Panchayat
- Total expenditure made during the year
- Details of taxes, grants, and other receipts
- Expenses on development works, salaries, welfare schemes, etc.
- Balance of funds remaining at the end of the year
The statement helps:
- Maintain transparency and accountability
- Review how public money was used
- Plan future budgets and development activities
- Present financial records for audit and approval
In simple words:
“An Annual Financial Statement is the yearly financial report of a Panchayat showing its income, expenditure, and overall financial condition.”