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Home / Bare Acts / Central Acts and Rules / Education Laws / National Institute of Design Act,2014 / National Institute of Design (Form of Annual Statement of Accounts) Rules, 2016

National Institute of Design (Form of Annual Statement of Accounts) Rules, 2016

The National Institute of Design (Form of Annual Statement of Accounts) Rules, 2016

Published vide Notification No. G.S.R. 884(E), 14th September, 2016

act2950

Ministry of Commerce and Industry

(Department of Industrial Policy and Promotion)

G.S.R. 884(E). – In exercise of the powers conferred by clause (b) of sub-section (2) of section 38 read with sub-section (1) of section 25 of the National Institute of Design Act, 2014 (18 of 2014), the Central Government hereby makes the following rules, namely:-

  1. Short title and commencement.– (1) These rules may be called the National Institute of Design (Form of Annual Statement of Accounts) Rules, 2016.

(2) They shall come into force on the date of their publication in the official Gazette.

  1. Definitions.– In these rules, unless the context otherwise requires, –

(a) `Act’ means the National Institute of Design Act, 2014 (18 of 2014);

(b) ‘Form’ means Form annexed to these rules;

(c) ‘Schedule’ means the Schedule annexed to these rules;

(d) Words and expressions used and not defined in these rules but defined in the Act shall have the meanings respectively assigned to them in the Act.

  1. Maintenance of proper accounts and records.– (1) The Institute shall maintain its accounts and records in the Form of financial statements annexed to these rules.

(2) The Institute shall follow the general directions by the Central Government in consultation with the Comptroller and Auditor General of India in maintaining the financial statements.

  1. Preparation and submission of annual statement of accounts of the Institute.– (1) The Institute shall prepare its annual statement of accounts and balance sheet showing the financial results as specified in Form `A’ and Form `B’ and the Schedules annexed to these rules. (2) The annual statement of accounts and balance sheet of the Institute, duly authenticated by the Director and passed by the Governing Council shall be forwarded to the Comptroller and Auditor General of India, not later than the 31st July every year.

(3) The duly audited annual statement of accounts of the Institute as certified by the Comptroller and Auditor General of India together with the audit report thereon shall be forwarded by the Director for every financial year to the Central Government by the 30th September of the following year for laying before the both Houses of Parliament.

(4) The books of Accounts will be maintained on the basis of double entry book keeping system.

  1. Separate ledger accounts for funds received from the Government of India.– The Institute shall maintain separate ledger accounts for all funds received from the Government of India and maintain accounts of the Institute regarding proper utilisation of such grants.

Form `A’

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Balance Sheet as at 31st March, ________________

(Amount in Rs.)

Schedule 31.03._______ 31.03._______
Capital Fund And Liabilities

Capital Fund:

Depreciation Fund:

Earmarked Funds:

Grants and Contributions:

Grants for New NIDs

Current Liabilities:

 

1

6

2

3

4

5

Total 0 0
Assets

Fixed Assets: (At Cost)

Investments: (At Cost)

Current Assets, Loans, Advances Etc.:

Income & Expenditure Account

 

6

7

8

9

Total 0 0

For Notes forming part of Accounts – 17

Place: _____________

Date: ______________

Director

Form `B’

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Income and Expenditure Account for the Year Ending 31st March, _________

(Amount in Rs.)

Schedule Current Year Previous Year
Income

Fees:

Service Charges:

Grants:

Interest Earned:

Other Income:

Transferred From Capital Fund to the Extent of Depreciation:

 

10

11

12

13

1

Total (A) 0 0
Expenditure

Establishment Expenses:

Other Administrative Expenses:

Expenses On Projects:

Interest/bank Charges:

Depreciation: (Ref. Note no. le)

Amount Transferred To Specific Funds:

 

14

15

11

6

16

Total (B) 0 0
Balance Being Deficit Carried Over to Balance Sheet (A-B) 9

For NOTES forming part of Accounts, see Schedule – 17

Place: _____________

Date: ______________

Director

Schedule -1

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Schedule forming part of the Balance Sheet as at 31st March, ________________

Capital Fund

Particulars 31.03._______ 31.03._______
Rs. Rs.
a. Capital Fund

Balance as on 1-4-_________

a. Add: i) Amount transferred from Central Government Grants Account for meeting Non-recurring expenditure
ii) Amount transferred from Appropriation of fund for Building under construction Account
iii) Amount transferred from Income & Expenditure A/c. on account of excess of cost over grant for Non-Recurring Expenditure
b. Less: Transferred to Income & Expenditure Account to the extent of depreciation on assets acquired out of Capital Funds 0 0
c. Less: Adjustment of the value of Machinery, Equipment & Furniture sold/discard during the year.
Sub-Total (a.) 0 0
b. Land Reserve

Balance as on 1-4-_________

Total (a+b) 0 0

Director

Schedule-2

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Schedule forming part of the Balance Sheet as at 31st March, _______________

Earmarked Funds

Sr. No. Name of funds Opening balance as on 01.04._____ Interest credited Other credited Amount debited Ref. Note Closing balance as on 31.03.___
Rs. Rs. Rs. Rs. Rs. Rs.
Grand total 0 0 0 0 0 0
Previous year

Director

Schedule-3

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Schedule forming part of the balance Sheet as at 31st March, ________

Grants and Contributions

Sr. No. Name of account Opening balance as on 01.04._____ Grant credited Amount debited Ref. Note Closing balance As on 31.03._____
Non recurring Exps Transferred to I & E A/c. Other debited
Rs. Rs. Rs. Rs. Rs. Rs.
Total 0 0 0 0 0 0
Previous year

Director

Schedule-4

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Schedule forming part of the Balance Sheet as at 31st March, ________________

Grants For New NIDs

Sr. No. Name of account Grant credited up to 31.03.____ Grant utilised up to 31.03.____ Opening balance as on 01.04._________ Grant credited during the year Total Amount debited Closing balance As on 31.03.____
Non-recurring Exps Transferred to CPWD/NVCC for Const. woek Other debited
Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs.
Central Government Grant Plan (non-recurring) for implementation of national Design Policy: Setting up of new NID campuses at
1 Jorhat
2 Hyderabad
3 Bhopal
4 Kurukshetra
5 Vijayawada & Other campuses
Total
Previous year

Director

Schedule-5

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Schedule forming part of the Balance Sheet as at 31st March, ______________

Current Liabilities

Particulars 31.03.______ 31.03.______
Rs. Rs.
1. For expenses
2. For rent & other deposits
3. For sundry credit balances
4. For advance for projects in progress
Total 0 0

Director

Schedule-6

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Schedule forming part of the Balance Sheet as at 31st March, ___________

Fixed Assets

Sr. No. Particulars Gross Block Depreciation Net Block
As on 01.04.____ Addition Sale/Adjustment As on 31.03.___ As on 01.04.___ For the Year Sale/Adjustment As on 31.03.__ As on 31.03.__ As on 31.03.__
Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs.
A Immovable Properties
1 (i) Land
Sub-total of 1
2 NID campus buildings
Sub-total of (1+2)
B Movable Properties
1 Machinery, equipment& tools
2 Furniture & fixtures
3 Computers & peripherals
4 Staff pool vehicles
5 Library books
Sub-Total of B
C Capital works in progress
Sub-Total of C
Grand Total
Previous Year

Director

Schedule-7

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Schedule forming part of the Balance Sheet as at 31st March, __________

Investments (At cost)

Particulars 31.03.___ 31.03.____
Long Term Rs. Rs.
Fixed Deposits with

Bonds

Total 0 0

Director

Schedule-8

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Schedule forming part of the Balance Sheet as at 31st March, ___________

Current Assets, Loans, Advances etc.

Particulars 31.03.____ 31.03.____
Rs. Rs.
A. Current Assets:

i) Inventories: Civil and Capital Materials (At Cost)

ii) Cash Balances On Hand
iii) Bank Balances

a) In Current account with

Sub-Total (a)
b) In Saving account with
Sub-Total (b)
Sub-Total (a)+(b)
c) In Call/Term Deposit account with
Sub-Total (c)
Sub-Total – III (a+b+c)
Total (I+II+III)

Schedule-8

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Schedule forming part of the Balance Sheet as at 31st March, ___________

Current Assets, Loans, Advances etc.

Particulars 31.03.___ 31.03.___
Rs. Rs.
B. Loan, Advances and Other Assets:
i. Loans:
a. Secured
Sub-Total of (a)
b. Unsecured
Sub-Total (i)
ii. Advances:
Sub-Total (ii)
Sub-Total (III)
Total of B (I+II+III)
Total of A+B

Schedule-9

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Schedule forming part of the balance Sheet as at 31st March, ____________

Income and Expenditure Account

Particulars 31.03.___ 31.03.___
Rs. Rs.
Balance as on 01.04.________
Less: Met from NID’s own Income
Add: Current year’s deficit (Plan Recurring)
Less: Current year’s surplus (Non-Plan Recurring)
Deficit carried over to Balance Sheet

Director

Schedule-10

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Schedule forming part of the Balance Sheet as at 31st March, ___________

Fees

Particulars 20 – 20 –
Rs. Rs.
Total

Director

Schedule-11

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Schedule forming part of the Income and Expenditure for the year ended 31st March, _______

Income from Project receipts/Grants(Non plan) & expenses from projects (Non Plan) 20___-20____

20- 20 20 – 20
Particulars Project Expenses Project Receipts Project Expenses Project Receipts
Rs. Rs. Rs. Rs.
Total

Director

Schedule-12

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Schedule forming part of the Income and Expenditure for the year ended 31st March, _________

Transfers from Grants & Contributions

Particulars 20– — 20– —
Rs. Rs.
Total 0 0

Director

Schedule-13

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Schedule forming part of the Income and Expenditure for the year ended 31st March, _______

Interest earned

Particulars 20– — 20– —
(Other than directly credited to earmarked funds) Rs. Rs.
A) On term deposit
Sub-Total (A) 0 0
B) On Saving/Current accounts
C) On Loans
Sub-Total ( C ) 0 0
Total of A+B+C 0 0

Director

Schedule-14

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Schedule forming part of the Income and Expenditure for the year ended 31st March, _______

Establishment expenses

20 – 20 –
Particulars Non-Plan recurring expenses Plan recurring epenses Total Total of Non-Plan and Plan recurring expenses
R & D Other Total
Rs. Rs. Rs. Rs. Rs. Rs.
1. Salaries, wages & allowances
2. Provident fund contribution
3. Gratuity contribution
4. Medical reim. &staff welfare
Total 0 0 0 0 0 0

Director

Schedule-15

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Other administrative expenses

20 – 20 –
Particulars Non-Plan recurring expenses Plan Recurring Expenses Total Total of Non-Plan and Plan recurring expenses
R & D Other Total
Rs. Rs. Rs. Rs. Rs.
1. Travelling expenses
2. Telephone, Telex, Postage
3. Electricity expenses
4. Maintenance: Mechanical, Electrical, Electronics
5. Vehicle maintenance & Operation charges
6. Material, Supplies Consumables etc.
7. General Expenses for Satellite Centres
8. Advertisement & Publicity expenses
9. Welfare, Campus events & Other expenses
10. Library, Journals, Periodical, Subscription etc.
11. Student Freeship & Development
12. Faculty, Staff HRD, Other Misc. expenses
13. Rates, Taxes, Cesses
14. Repairs & Maintenance
15. Insurance
16. Legal expenses & Professional fees
17. Audit fees
Total 0 0 0 0 0 0

Director

Schedule-16

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Schedule forming part of the Income and Expenditure for the year ended 31st March, _________

Amount transferred to Reserve or Specific fund

Particulars 20 – – 20 – –
Rs. Rs.
Total 0 0

Director

Schedule-17

[See sub-rule 1 of rule 4]

National Institute of Design, Ahmedabad

Institute of National Importance by an Act of Parliament

Schedule forming part of balance sheet and income and expenditure account for the year ended 31stMarch, _______

Notes forming part of accounts

  1. Significant Accounting Policies:
  2. Accounting Convention: The Financial statements are prepared on the basis of historical cost convention, unless otherwise stated and on the accrual method of accounting except for interest income and liability towards privileged leave.
  3. Investments: Long Term Investments are stated at cost.
  4. Fixed Assets: Fixed Assets are stated at the cost. The cost includes invoice value, freight, octroi, and other incidental expenses relating acquisition.
  5. Government Grants: i. Government grants are accounted on the basis of sanction from Government Department.
  6. Government grant to the extent utilised towards capital expenditure, are transferred to the Capital Fund.

iii. Government grants for meeting Revenue expenditure are treated as income of the year to the extent of expenditure incurred.

  1. Utilized grants are carried forward and exhibited as a Liability in the balance Sheet
  2. Foreign Currency Transaction: Transaction denominated in foreign currency are accounted for at the exchange rate prevailing on the date of transaction. The bank balance held in foreign currency is converted into Rupee at RBI rate prevailing on the closing day of the financial year.
  3. Current Assets, Loans And Advances: In the opinion of the management, the current assets, loans and advances have a value on realization in the ordinary course of business, equal at least to the aggregate amount shown in the Balance Sheet.
  4. Income Tax: The income of the Institute is exempt under Income-tax Act 1961. No provision for Income Tax is therefore made in the accounts.
  5. Retirement/terminal Benefit: Terminal leave encashment benefit to the employees is accounted for on cash basis. Gratuity is charged to Income & Expenditure A/c on the basis Actuarial valuation and the same is contributed to the NID Employees’ Gratuity Fund.
  6. Contingent Liabilities Rs. __________ (Previous year Rs. _____________ )
  7. Estimated amount of contract remaining to be executed on capital account and not provided for Rs. ___________ Previous year Rs. _______________ )
  8. Deficit for the year _____________ of Rs. _________________ For the year _____________ Rs. ________________ ) has been debited to misc. exps, as there is no specific government. grant received for the same during the year.
  9. Corresponding figures for the previous year have been regrouped/rearranged where ever necessary.
  10. Figures in the Final accounts have been rounded off to the nearThe National Institute of Design (Form of Annual Statement of Accounts) Rules, 2016

    Published vide Notification No. G.S.R. 884(E), 14th September, 2016

    act2950

    Ministry of Commerce and Industry

    (Department of Industrial Policy and Promotion)

    G.S.R. 884(E). – In exercise of the powers conferred by clause (b) of sub-section (2) of section 38 read with sub-section (1) of section 25 of the National Institute of Design Act, 2014 (18 of 2014), the Central Government hereby makes the following rules, namely:-

    1. Short title and commencement.– (1) These rules may be called the National Institute of Design (Form of Annual Statement of Accounts) Rules, 2016.

    (2) They shall come into force on the date of their publication in the official Gazette.

    1. Definitions.– In these rules, unless the context otherwise requires, –

    (a) `Act’ means the National Institute of Design Act, 2014 (18 of 2014);

    (b) ‘Form’ means Form annexed to these rules;

    (c) ‘Schedule’ means the Schedule annexed to these rules;

    (d) Words and expressions used and not defined in these rules but defined in the Act shall have the meanings respectively assigned to them in the Act.

    1. Maintenance of proper accounts and records.– (1) The Institute shall maintain its accounts and records in the Form of financial statements annexed to these rules.

    (2) The Institute shall follow the general directions by the Central Government in consultation with the Comptroller and Auditor General of India in maintaining the financial statements.

    1. Preparation and submission of annual statement of accounts of the Institute.– (1) The Institute shall prepare its annual statement of accounts and balance sheet showing the financial results as specified in Form `A’ and Form `B’ and the Schedules annexed to these rules. (2) The annual statement of accounts and balance sheet of the Institute, duly authenticated by the Director and passed by the Governing Council shall be forwarded to the Comptroller and Auditor General of India, not later than the 31st July every year.

    (3) The duly audited annual statement of accounts of the Institute as certified by the Comptroller and Auditor General of India together with the audit report thereon shall be forwarded by the Director for every financial year to the Central Government by the 30th September of the following year for laying before the both Houses of Parliament.

    (4) The books of Accounts will be maintained on the basis of double entry book keeping system.

    1. Separate ledger accounts for funds received from the Government of India.– The Institute shall maintain separate ledger accounts for all funds received from the Government of India and maintain accounts of the Institute regarding proper utilisation of such grants.

    Form `A’

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Balance Sheet as at 31st March, ________________

    (Amount in Rs.)

    Schedule 31.03._______ 31.03._______
    Capital Fund And Liabilities

    Capital Fund:

    Depreciation Fund:

    Earmarked Funds:

    Grants and Contributions:

    Grants for New NIDs

    Current Liabilities:

     

    1

    6

    2

    3

    4

    5

    Total 0 0
    Assets

    Fixed Assets: (At Cost)

    Investments: (At Cost)

    Current Assets, Loans, Advances Etc.:

    Income & Expenditure Account

     

    6

    7

    8

    9

    Total 0 0

    For Notes forming part of Accounts – 17

    Place: _____________

    Date: ______________

    Director

    Form `B’

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Income and Expenditure Account for the Year Ending 31st March, _________

    (Amount in Rs.)

    Schedule Current Year Previous Year
    Income

    Fees:

    Service Charges:

    Grants:

    Interest Earned:

    Other Income:

    Transferred From Capital Fund to the Extent of Depreciation:

     

    10

    11

    12

    13

    1

    Total (A) 0 0
    Expenditure

    Establishment Expenses:

    Other Administrative Expenses:

    Expenses On Projects:

    Interest/bank Charges:

    Depreciation: (Ref. Note no. le)

    Amount Transferred To Specific Funds:

     

    14

    15

    11

    6

    16

    Total (B) 0 0
    Balance Being Deficit Carried Over to Balance Sheet (A-B) 9

    For NOTES forming part of Accounts, see Schedule – 17

    Place: _____________

    Date: ______________

    Director

    Schedule -1

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Schedule forming part of the Balance Sheet as at 31st March, ________________

    Capital Fund

    Particulars 31.03._______ 31.03._______
    Rs. Rs.
    a. Capital Fund

    Balance as on 1-4-_________

    a. Add: i) Amount transferred from Central Government Grants Account for meeting Non-recurring expenditure
    ii) Amount transferred from Appropriation of fund for Building under construction Account
    iii) Amount transferred from Income & Expenditure A/c. on account of excess of cost over grant for Non-Recurring Expenditure
    b. Less: Transferred to Income & Expenditure Account to the extent of depreciation on assets acquired out of Capital Funds 0 0
    c. Less: Adjustment of the value of Machinery, Equipment & Furniture sold/discard during the year.
    Sub-Total (a.) 0 0
    b. Land Reserve

    Balance as on 1-4-_________

    Total (a+b) 0 0

    Director

    Schedule-2

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Schedule forming part of the Balance Sheet as at 31st March, _______________

    Earmarked Funds

    Sr. No. Name of funds Opening balance as on 01.04._____ Interest credited Other credited Amount debited Ref. Note Closing balance as on 31.03.___
    Rs. Rs. Rs. Rs. Rs. Rs.
    Grand total 0 0 0 0 0 0
    Previous year

    Director

    Schedule-3

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Schedule forming part of the balance Sheet as at 31st March, ________

    Grants and Contributions

    Sr. No. Name of account Opening balance as on 01.04._____ Grant credited Amount debited Ref. Note Closing balance As on 31.03._____
    Non recurring Exps Transferred to I & E A/c. Other debited
    Rs. Rs. Rs. Rs. Rs. Rs.
    Total 0 0 0 0 0 0
    Previous year

    Director

    Schedule-4

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Schedule forming part of the Balance Sheet as at 31st March, ________________

    Grants For New NIDs

    Sr. No. Name of account Grant credited up to 31.03.____ Grant utilised up to 31.03.____ Opening balance as on 01.04._________ Grant credited during the year Total Amount debited Closing balance As on 31.03.____
    Non-recurring Exps Transferred to CPWD/NVCC for Const. woek Other debited
    Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs.
    Central Government Grant Plan (non-recurring) for implementation of national Design Policy: Setting up of new NID campuses at
    1 Jorhat
    2 Hyderabad
    3 Bhopal
    4 Kurukshetra
    5 Vijayawada & Other campuses
    Total
    Previous year

    Director

    Schedule-5

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Schedule forming part of the Balance Sheet as at 31st March, ______________

    Current Liabilities

    Particulars 31.03.______ 31.03.______
    Rs. Rs.
    1. For expenses
    2. For rent & other deposits
    3. For sundry credit balances
    4. For advance for projects in progress
    Total 0 0

    Director

    Schedule-6

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Schedule forming part of the Balance Sheet as at 31st March, ___________

    Fixed Assets

    Sr. No. Particulars Gross Block Depreciation Net Block
    As on 01.04.____ Addition Sale/Adjustment As on 31.03.___ As on 01.04.___ For the Year Sale/Adjustment As on 31.03.__ As on 31.03.__ As on 31.03.__
    Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs.
    A Immovable Properties
    1 (i) Land
    Sub-total of 1
    2 NID campus buildings
    Sub-total of (1+2)
    B Movable Properties
    1 Machinery, equipment& tools
    2 Furniture & fixtures
    3 Computers & peripherals
    4 Staff pool vehicles
    5 Library books
    Sub-Total of B
    C Capital works in progress
    Sub-Total of C
    Grand Total
    Previous Year

    Director

    Schedule-7

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Schedule forming part of the Balance Sheet as at 31st March, __________

    Investments (At cost)

    Particulars 31.03.___ 31.03.____
    Long Term Rs. Rs.
    Fixed Deposits with

    Bonds

    Total 0 0

    Director

    Schedule-8

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Schedule forming part of the Balance Sheet as at 31st March, ___________

    Current Assets, Loans, Advances etc.

    Particulars 31.03.____ 31.03.____
    Rs. Rs.
    A. Current Assets:

    i) Inventories: Civil and Capital Materials (At Cost)

    ii) Cash Balances On Hand
    iii) Bank Balances

    a) In Current account with

    Sub-Total (a)
    b) In Saving account with
    Sub-Total (b)
    Sub-Total (a)+(b)
    c) In Call/Term Deposit account with
    Sub-Total (c)
    Sub-Total – III (a+b+c)
    Total (I+II+III)

    Schedule-8

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Schedule forming part of the Balance Sheet as at 31st March, ___________

    Current Assets, Loans, Advances etc.

    Particulars 31.03.___ 31.03.___
    Rs. Rs.
    B. Loan, Advances and Other Assets:
    i. Loans:
    a. Secured
    Sub-Total of (a)
    b. Unsecured
    Sub-Total (i)
    ii. Advances:
    Sub-Total (ii)
    Sub-Total (III)
    Total of B (I+II+III)
    Total of A+B

    Schedule-9

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Schedule forming part of the balance Sheet as at 31st March, ____________

    Income and Expenditure Account

    Particulars 31.03.___ 31.03.___
    Rs. Rs.
    Balance as on 01.04.________
    Less: Met from NID’s own Income
    Add: Current year’s deficit (Plan Recurring)
    Less: Current year’s surplus (Non-Plan Recurring)
    Deficit carried over to Balance Sheet

    Director

    Schedule-10

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Schedule forming part of the Balance Sheet as at 31st March, ___________

    Fees

    Particulars 20 – 20 –
    Rs. Rs.
    Total

    Director

    Schedule-11

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Schedule forming part of the Income and Expenditure for the year ended 31st March, _______

    Income from Project receipts/Grants(Non plan) & expenses from projects (Non Plan) 20___-20____

    20- 20 20 – 20
    Particulars Project Expenses Project Receipts Project Expenses Project Receipts
    Rs. Rs. Rs. Rs.
    Total

    Director

    Schedule-12

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Schedule forming part of the Income and Expenditure for the year ended 31st March, _________

    Transfers from Grants & Contributions

    Particulars 20– — 20– —
    Rs. Rs.
    Total 0 0

    Director

    Schedule-13

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Schedule forming part of the Income and Expenditure for the year ended 31st March, _______

    Interest earned

    Particulars 20– — 20– —
    (Other than directly credited to earmarked funds) Rs. Rs.
    A) On term deposit
    Sub-Total (A) 0 0
    B) On Saving/Current accounts
    C) On Loans
    Sub-Total ( C ) 0 0
    Total of A+B+C 0 0

    Director

    Schedule-14

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Schedule forming part of the Income and Expenditure for the year ended 31st March, _______

    Establishment expenses

    20 – 20 –
    Particulars Non-Plan recurring expenses Plan recurring epenses Total Total of Non-Plan and Plan recurring expenses
    R & D Other Total
    Rs. Rs. Rs. Rs. Rs. Rs.
    1. Salaries, wages & allowances
    2. Provident fund contribution
    3. Gratuity contribution
    4. Medical reim. &staff welfare
    Total 0 0 0 0 0 0

    Director

    Schedule-15

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Other administrative expenses

    20 – 20 –
    Particulars Non-Plan recurring expenses Plan Recurring Expenses Total Total of Non-Plan and Plan recurring expenses
    R & D Other Total
    Rs. Rs. Rs. Rs. Rs.
    1. Travelling expenses
    2. Telephone, Telex, Postage
    3. Electricity expenses
    4. Maintenance: Mechanical, Electrical, Electronics
    5. Vehicle maintenance & Operation charges
    6. Material, Supplies Consumables etc.
    7. General Expenses for Satellite Centres
    8. Advertisement & Publicity expenses
    9. Welfare, Campus events & Other expenses
    10. Library, Journals, Periodical, Subscription etc.
    11. Student Freeship & Development
    12. Faculty, Staff HRD, Other Misc. expenses
    13. Rates, Taxes, Cesses
    14. Repairs & Maintenance
    15. Insurance
    16. Legal expenses & Professional fees
    17. Audit fees
    Total 0 0 0 0 0 0

    Director

    Schedule-16

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Schedule forming part of the Income and Expenditure for the year ended 31st March, _________

    Amount transferred to Reserve or Specific fund

    Particulars 20 – – 20 – –
    Rs. Rs.
    Total 0 0

    Director

    Schedule-17

    [See sub-rule 1 of rule 4]

    National Institute of Design, Ahmedabad

    Institute of National Importance by an Act of Parliament

    Schedule forming part of balance sheet and income and expenditure account for the year ended 31stMarch, _______

    Notes forming part of accounts

    1. Significant Accounting Policies:
    2. Accounting Convention: The Financial statements are prepared on the basis of historical cost convention, unless otherwise stated and on the accrual method of accounting except for interest income and liability towards privileged leave.
    3. Investments: Long Term Investments are stated at cost.
    4. Fixed Assets: Fixed Assets are stated at the cost. The cost includes invoice value, freight, octroi, and other incidental expenses relating acquisition.
    5. Government Grants: i. Government grants are accounted on the basis of sanction from Government Department.
    6. Government grant to the extent utilised towards capital expenditure, are transferred to the Capital Fund.

    iii. Government grants for meeting Revenue expenditure are treated as income of the year to the extent of expenditure incurred.

    1. Utilized grants are carried forward and exhibited as a Liability in the balance Sheet
    2. Foreign Currency Transaction: Transaction denominated in foreign currency are accounted for at the exchange rate prevailing on the date of transaction. The bank balance held in foreign currency is converted into Rupee at RBI rate prevailing on the closing day of the financial year.
    3. Current Assets, Loans And Advances: In the opinion of the management, the current assets, loans and advances have a value on realization in the ordinary course of business, equal at least to the aggregate amount shown in the Balance Sheet.
    4. Income Tax: The income of the Institute is exempt under Income-tax Act 1961. No provision for Income Tax is therefore made in the accounts.
    5. Retirement/terminal Benefit: Terminal leave encashment benefit to the employees is accounted for on cash basis. Gratuity is charged to Income & Expenditure A/c on the basis Actuarial valuation and the same is contributed to the NID Employees’ Gratuity Fund.
    6. Contingent Liabilities Rs. __________ (Previous year Rs. _____________ )
    7. Estimated amount of contract remaining to be executed on capital account and not provided for Rs. ___________ Previous year Rs. _______________ )
    8. Deficit for the year _____________ of Rs. _________________ For the year _____________ Rs. ________________ ) has been debited to misc. exps, as there is no specific government. grant received for the same during the year.
    9. Corresponding figures for the previous year have been regrouped/rearranged where ever necessary.
    10. Figures in the Final accounts have been rounded off to the nearest rupee.

    Place : ____________________

    Date: _____________________

     

    est rupee.

Place : ____________________

Date: _____________________

 

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