Funds
Introduction
A Fund is used to capture activities/ group of activities for which separate books of accounts are required to be maintained. The concept of Funds brings accountability and better transparency
Various Funds are set up in ULB for meeting certain objectives. Income and expenditure under these funds are to be identified and disclosed separately.
Fund Accounting is a self-contained accounting with its own assets, liabilities, revenues, expenditures and fund balance.
Data Table
Sr. No*
Name*
Code*
Identifier
Level*
Parent Fund
1
Municipal Fund
01
1
0
Nil
2
Grant Fund
02
2
0
Nil
3
Public Fund
03
3
0
Nil
4
Pension Fund
04
4
0
Nil
Procedure
Data Definition
Sr No
Column Name
Data Type
Data Size
Is Mandatory?
Definition/ Description
1
Name
Text
50
Yes
To indicate the Fund name, if there are multiple funds and by following the Fund Accounting method to record the transaction user can select a particular Fund
2
Code
Numeric
50
Yes
The unique code gives to the individual fund
3
Identifier
Numeric
50
No
A single character or number which is used as a unique identification for the fund. This identifier is used in the voucher number format
4
Level
Numeric
50
Yes
The Funds can be defined in the tree structure, so the Level indicates the structure in which the funds would be set up. Root nodes will be level 0 and the next level funds will have value as 1 and the next level as value 2
5
Parent Fund
Text
50
No
If the ULB’s using multiple Funds then a Hierarchy of “Parent-Child “can be set up for the Fund, so under each Parent Fund multiple child funds can be set up
Steps to fill data
Download the data template attached to this page.
Have it open and go through all the headers and understand the meaning of them by referring 'Data Definition' section.
Make sure all the headers, its data type, field size and its definition/ description is understood properly. In case of any doubt, please reach out to the person who has shared this document with you to discuss the same and clear out the doubts.
Identify all different types of Funds on the basis of ULB’s functions.
Start filling the data starting from serial no. and complete a record at once. repeat this exercise until the entire data is filled into a template.
Verify the data once again by going through the checklist and taking care of each and every point mentioned in the checklist.
Checklist
The checklist is a set of activities to be performed once the data is filled into a template to ensure data type, size, and format of data is as per the expectation. These activities have been divided into 2 groups as given below.
Common Checklist
This checklist covers all the activities which are common across the entities.
Sr. No
Checklist Parameter
Example
1
Make sure that each and every point in this reference list has been taken care of
Entity Specific Checklist
This checklist covers the activities which are specific to the entity.
Sr. No.
Activity
Example
1
The Fund Code that is defined by the state team should be numeric and Unique.
01
2
The Fund Name should not contain any special characters
Municipal Fund : [Allowed]
#Municipal Fund! : [Not allowed]
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