Accounts

The Accounts Department function under two division viz., General and water supply. These two divisions maintain the following funds

- Revenue Fund
- Education Fund
- General provident Fund

As far as the Revenue fund and educational funds are concerned, the funds are mobilized through revenue collected from property tax and profession taxes. In addition to this, Revenue Fund are also mobilized by Loans, grants from Government and non-government organizations. Regarding water supply fund, they are mobilized through water tax and property taxes.

Besides, the above funds are allotted under different heads as per the directions given by the corporation council and according to the Revenue Expenditure plans issued by it. This enables the Salem Corporation to function in an effective manner. Also, Every year the Accounts of the main office is integrated with the Account of four zonal offices coming under Salem Corporation. They are read for audit approval and the Annual Accounts are therefore finalized by the Accounts Department.

Functions of Accounts Department

1. Maintenance of Annual Accounts.
2. Preparation of Annual Budget.
3. Implementation of Annual plans and in case of any deficit, revised estimate is prepared.
4. The Bills showing the expenditure details are scrutinized carefully and amount settled by issuing cheques.
5. The loans and grants received from Government and non-Governmental organization are utilized for the Developmental works undertaken by the Salem Corporation. Loans are also promptly repaid in due installments.
6. The Government grants received by the corporation are also expended in a proper manner.
7. The Funds distribution for the Salem Corporation by the 10th & 11th Finance Commissions are specifically spent under the respective Heads only for which it is allotted.
8. The Accounts Department also acts as the nodal agency in collecting Entertainment tax, stamp duty, Road maintenance charges etc., and the revenue is maintained by the Accounts Department.
9. The funds allotted under MLA funds, MP Fund , MP Fund are received and spent for the development works approved and sanctioned by them. The Bills submitted by the contractis for undertaking works are also scrutinized carefully and passed by issuing cheques.
10. The grants for the particular plans and the loans taken for implementation of the plans are also utilized for passing of the Bills submitted by the contractors. This the amount is settled by issuing of cheques.
11. The rents for offices of Salem Corporation functioning in rented buildings are also paid by the Accounts Department in due time.