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e. PRESENTATION ON -TRANSFER. SARVA SHIKSHA ABHIYAN. Directly into bank accounts of DLO’s/BRC’s/CRC’s/KGBV’s/NPEGEL and VECs from SIS. Objectives of e -transfer:. To reduce time and manual labour in preparation of such a large number of cheques /DDs and release thereof to VECs;
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e PRESENTATION ON -TRANSFER SARVA SHIKSHA ABHIYAN Directly into bank accounts of DLO’s/BRC’s/CRC’s/KGBV’s/NPEGEL and VECs from SIS
Objectives of e-transfer: • To reduce time and manual labour in preparation of such a large number of cheques /DDs and release thereof to VECs; • To reduce long time being taken in clearing/OSC of instruments issued from districts to remote area bank branches which were not covered locally by clearing houses; • To avoid huge clearing/OSC/DD bank charges/commissions on issuing/collecting cheques/DD’s; • To curtail lengthy process of preparation of bank reconciliation statement due to non- presentation / non- clearance of cheques/DD’s; • To avoid reverse accounting entries due to outstanding stale or time-barred cheques /DD’s, revalidation thereof or their cancellation affecting the financial implication; • To reduce paper work involving large number of staff and officers to its optimum level; • To avoid reconciliation of missing instruments issued to VECs vis-à-vis mutilation, torn of, mishandling etc. at VEC’s end. • To curtail unwarranted delay in deposit of cheques/DDs from VEC’s end and unnecessary travel expenses from VEC establishments to their bank branches. • To make VECs receive/utilize their grants well within time during the year;and • To adopt e-mode of fund transfer as per guidelines framed by GOI, Ministry of HRD. • The General Council of Jharkhand Education Project Council, Ranchi presided over by the Hon. Chief Minster expressed its opinion to transfer grants directly from the SLO to Village Education Committee’s Bank Accounts in view of the following:
FUND FLOW SYSTEM • GOI releases received by SPO in mode of e-transfer • State releases received by SPO in mode of demand draft /Banker’s cheques; • SIS transfer of funds in mode of e-transfer to :- • All District level offices for *District level activities • All BRCs /CRCs for *BRC/ CRC level activities on behalf of district • All VECs for *School level activities on behalf of district
Preparation of e-Transfer: • Full details regarding VECs (like category of each school, name & location of VEC, Bank account number of VEC, Bank & branch details where their accounts are operated, details of fund (sub district level) to be released etc. )collected from District Project Offices in hard and soft copies, • Proposed releases by DLOs were got tallied with sanctioned budget for the purpose (Activity- wise), • Short-listing/ filtering the data of VECs received from DLOs in the series of district/block/bank/branch-wise before issuing bank advices, • After short-listing of data, errors & omissions were checked and rectified. • Short-listed/rectified data were re-certified by the DLO’s to avoid any discrepancy in data so filtered, and then bank advices issued. • Arrangements made for fund transfer directly into VEC’s bank accounts:
Methodology of e-transfer: • First and foremost, electronic fund transfer was preferred, • Transfer of fund through electronic mode of RTGS/NEFT/STEPS/CAN/AWB/TT/TRF/FAX Advice/Postal Advice as well as other quick facilities available in remote area bank branches vis-à-vis capital city bank branches was adopted, • Almost all funds/ grants received /available were electronically transferred from State Level Office to VEC’s bank accounts through same bank branches, • In those bank branches where VECs were maintaining their bank accounts, but State Level Office had no such bank account, funds were transferred through the mode of tie-banking for which SLO had already advised the banks and got them agreed upon before hand; • In all circumstances fund was to be transferred in VEC’s bank accounts where already maintained/ operated previously, and • Remote area bank branches, which were not connected with immediate communication mode, were advised through postal/courier services, • Following techniques were applied to get the fund transferred directly into VEC’s bank accounts:
Bank Advising for e-transfer: • Forwarding letter with requisite details of VEC’s along with hard and soft copies issued to bankers including necessary instructions; • Bankers advised not to charge any bank commission for such transaction upto VEC level bank accounts. The bankers are duly advised to credit the amount in toto into VEC’s account without deducting any bank charges; • Advice made that, if money could not be credited into VEC’s bank accounts due to any reason, such money in full should be credited back into SPO’s bank account without deducting any charge and that too at the earliest. In no case, such amount remaining unremitted would be kept by the bankers in their suspense account for any period; • Bankers also advised not to credit fund into VEC’s accounts, if overall details sent by us do not tally or resemble; and • Advices were sent in form of forwarding letter issued under authorized joint signatures certifying all of the enclosures. • Bankers are advised for transfer of fund into VEC’s bank accounts as under:
District Level Offices Debited by State Project Office against :- • Amount Released for District level activities • Amount Released for BRC/ CRC level activities on behalf of district • Amount Released for School level activities on behalf of district • Double entry System is adopted by SIS with computerized accounting system i.e Tally package. • By using Cost Category for Districts; • By using cost sub-category for BRC; • By using cost centre for Schools & Teachers • Accounting Methods at State level office:
Steps of Accounting Process: • True copy of advice sent to bank by SLO and second copy also sent to the concerned DLO along with Debit advice including guidelines regarding its accounting and monitoring of fund so transferred to VEC’s bank accounts, simultaneously informing each BRC through the DLO concerned ; • Fund transferred from SPO to VECs on behalf of DLOs making it convenient for them, as it was an innovative or novel idea of e-mode of transfer of fund; • Grants transferred from SLO direct to VEC’s accounts was debited to DLO’s account and DLOs responding by crediting the same as grants received from SLO and debiting the same to respective VEC’s accounts; • By this innovative fund transfer system, normal accounting procedure remained un-affected; • Tally package of accounting is adopted and proposed to be interlinked with each other in future. • Following accounting procedure is followed at State & District level offices:
DETAILS OF FUND TRANSFERRED TO VECs, BRCs,KGBVS & DISTRICT OFFICES DURING F.Y. 2008-09 in mode of e-Transfer
Monitoring/Messaging of e-transfer: • Monitoring/utilisation of fund transferred directly to VECs from SLO is to be done by respective DLO/BRCs as usual for implementing their approved activities earnestly and more vigorously; • Messages sent to VECs through notice in local daily news papers, letters, and by concerned DPO and BRC to intimate in detail that the funds have been transferred from SLO into their bank accounts; • Instructions sent to VECs through news papers/letters regarding utilisation of funds and their responsibilities; • VECs advised to contact their concerned bank branches for confirmation of fund receipt/credit and • After all, VECs knew fully well already regarding transfer of fund and its utilisation to be submitted to DLO/BRCs. • Following Monitoring/Messaging steps are to be taken:
Following checks to be exercised to evaluate the fund transferred: Evaluation/Audit of e-transfer: • BRS shall be prepared at SPO to locate omission or the deficiency, if any, in fund transfer; • Study would be conducted to learn the impact of such fund transition ; • Audit of accounts of requisite number of VECs would be conducted by Retd. A.G. staff/CA firms to submit their opinion/findings regarding its receipt/expenditure and their performance every year; • Concept of social audit is executed by information to all through news papers regarding fund transferred, and • Printed cashbook/ledgers/register of assets have already been made available to all VECs from SPO in a model format for each to be maintained to exhibit receipt/expenditure of fund and position of assets created.
Training on e-transfer: • Two days specific training for all accounts people of DLOs regarding e-transfer of fund to VECs organized by the SLO; • DLO’s accounts personnel have now become quite efficient and confident enough in such innovative methodology of e-transfer; • Retired A.G. personnel appointed as Resource persons to monitor the maintenance of accounts, preparation of BRS audit of accounts by CA firms at VEC/ School level. • Workshop organized with all concerned bankers already regarding objects of such transfer and how they would cooperate and implement the process without delay.
