Petroleum and Natural Gas Regulatory Board (Annual Statement of Accounts and Records) Rules, 2017

The Petroleum and Natural Gas Regulatory Board (Annual Statement of Accounts and Records) Rules, 2017

Published vide Notification No. G.S.R. 173(E), dated 20th February, 2017

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Ministry of Petroleum and Natural Gas

G.S.R. 173(E). - In exercise of the powers conferred by clause (g) of sub-section (2) of Section 60 of the Petroleum and Natural Gas Regulatory Board Act, 2006 (19 of 2006), the Central Government, in consultation with the Comptroller and Auditor General of India, hereby makes the following rules to regulate the manner in which the accounts of the Petroleum and Natural Gas Regulatory Board shall be maintained, namely:- 1. Short title and commencement. - (1) These Rules may be called the Petroleum and Natural Gas Regulatory Board (Annual Statement of Accounts and Records) Rules, 2017. (2) They shall come into force on the date of their publication in the Official Gazette. 2. Definitions. - (1) In these rules, unless the context otherwise requires, - (a) "Act" means the Petroleum and Natural Gas Regulatory Board Act, 2006 (19 of 2006);

(b) "Audit Officer" means the Comptroller and Auditor General of India or any person appointed by him in connection with the audit of accounts of the Board".

(c) "Board", means the Petroleum and Natural Gas Regulatory Board established under sub-section (1) of section 3 of the Act;

(d) "Chairperson", means the Chairperson of the Board appointed under section 4 of the Act;

(e) "form", means the form to these rules;

(f) "Member", means a Member of the Board appointed under section 4 of the Act;

(g) "Secretary", means the Secretary of the Board appointed under section 10 of the Act;

(h) "Schedule", means a schedule appended to these rules;

(2) All other words and expressions used in these rules but not defined and defined in the Act shall have the same meanings respectively assigned to them in the Act. 3. Annual Statement of Accounts and other relevant records. - (1) At the end of a period of twelve months ending on 31st March of every year, the Board shall prepare the following financial statements along with necessary Schedules, Notes on Accounts and significant accounting policies in accordance with the notes and instructions for compilation of financial statements prescribed by the Government of India, Ministry of Finance, Controller General of Accounts: (i) Receipts and Payment Account in Form-A.

(ii) Income and Expenditure Account in Form-B; and

(iii) Balance Sheet in Form - C

(2) The Secretary of the Board shall supervise the maintenance of the accounts of the Board, the compilation of financial statement and return, and shall ensure that all accounts, books, connected vouchers and other documents and papers of the Board required by the Audit Officer for the purpose of auditing the accounts of the Board are placed at the disposal of that officer. (3) The Annual Statement of Accounts will be placed before the Board for approval before submission to Comptroller Auditor General of India for certification. (4) The Annual Statement of Accounts duly approved by the Board and after certification by the Comptroller and Auditor General of India or his authorised representative, shall be submitted by the Secretary of the Board to the Central Government on or before 30th April of the following year to which the account relate. (5) The Annual Statement of Accounts shall be submitted to the Audit Officer on or before the 30th June following the year to which the accounts relate and the Audit Officer shall audit the accounts of the Board and report thereon. (6) The Board shall, on receipt of the audit report, rectify any defect or irregularity pointed out therein and report to the Central Government and the Audit Officer about the action taken by it thereon. 4. Permanent records. - The Board shall retain the Balance Sheet, Income and Expenditure Account and Receipts and Payments Account prepared under rule 3 as permanent records. 5. Authorized Signatory. - The Balance Sheet, Income and Expenditure Account, Receipts and Payments Account, Notes on accounts and significant accounting policies mentioned in rule 3 above shall be signed by the Secretary or Member-in-charge of finance and accounts and the Chairperson.

Form – A

Receipts and Payments Account

For the year ended _________________

A/c Code	Receipts	Current year As on	Previous year As on	A/c Code	Payments	Current year As on	Previous year As on
1.	To Balance Brought down:			13	By Chairperson and Members:
1.1	To Bank			13.1	By Pay and Allowances
1.2	To Cash in hand			13.2	By Other benefits
2	To Fee, Charges and Fine			13.3	By Traveling expenses:
2.1	To Fees			13.3.1	By Overseas
2.2	To Charges			13.3.2	By Domestic
2.3	To Fines			14	By Officers:
2.4	To Others (specify)			14.1	By Pay and Allowances
3	To Grants:			14.2	By Retirement benefits
3.1	To Accounts with Government			14.3	By Other benefits
3.2	To Others (specify)			14.4	By Traveling expenses:
4	To Gifts			14.4.1	By Overseas
5	To Seminars and conferences			14.4.2	By Domestic
6	To Sale of Publications			15	By Staff:
7	To Income on investments and Deposits			15.1	By Pay and Allowances
7.1	To Income on investments			15.2	By Retirement benefits
7.2	To Income on Deposits			15.3	By Other benefits
8	To Loans:			15.4	By Traveling expenses:
8.1	To Government			15.4.1	By Overseas
8.2	To Others (specify)			15.4.2	By Domestic
9	To Sale of Assets			16	By Hire of Conveyance
10	To Sale of Investments			17	By Wages
11	To Recoveries from pay bills			18	By Overtime
11.1	To Loans and Advances Principal Amount			19	By Honorarium
11.2	To Interest on Loans and Advances			20	By Other office expenses
11.3	To Miscellaneous			21	By Expenditure on Research
51	To Others (specify)			22	By Consultation expenses
				23	By Seminars and conferences
				24	By Publications of PNGRB
				25	By Rent and Taxes
				26	By Interest on Loans
				27	By Promotional Expenses
				28	By Membership fee
				29	By Subscription
				30	By Purchase of Fixed Assets (specify)
				31	By Investments and Deposits
				31.1	By Investments
				31.2	By Deposits
				32	By Security Deposits
				33	By Loans and Advances to :
				33.1	By Employees
				33.1.1	By Bearing Interest
				33.1.2	By Not bearing Interest
				33.2	By Suppliers/ contractors
				33.3	By Others (specify)
				34	By Repayment of loan
				35	By Others
					By Leave Salary and Pension
				35.1	Contribution
				35.2	By Audit Fee
				35.3	By Misc:
				36	By Balance carried down:
				36.1	By Bank
				36.2	By Cash in hand
	Total				Total

Advisor

Secretary

Member(s)

Chairperson

Form – B

Income and Expenditure Account

for the period 1^st April to 31^st March

(In Rupees)

A/c Code	Expenditure	Schedule	Current year As on	Previous year As on	A/c code	Income	Schedule	Current year As on	Previous year As on
13	To Chairperson and Members				2	By Fee, Charges and Fine	A
13.1	To Pay and Allowances				2.1	By Fee
13.2	To Other benefits	C			2.2	By Charges
13.3	To Travelling expenses:				2.3	By Fines
13.3.1	To Overseas				2.4	By Others (specify)
13.3.2	To Domestic				3	By Grants	B
14	To Officers:				3.1	By Account with Government
14.1	To Pay and Allowances				3.2	By Others (specify)
14.2	To Retirement benefits	D			4	By Gifts
14.3	To Other benefits	C			5	By Seminars and conferences
14.4	To Travelling expenses:				6	By Sale of Publications
14.4.1	To Overseas				7	By Income on investments and Deposits
14.4.2	To Domestic				7.1	By Income on investments
15	To Staff:				7.2	By Income on Deposits
15.1	To Pay and Allowances				11.2	By Interest on Loan and Advances
15.2	To Retirement benefits	D			12	By Miscellaneous Income
15.3	To Other benefits	C			12.1	By Gain on Sales of assets
15.4	To Travelling expenses:					By Excess of expenditure over income
15.4.1	To Overseas					(Transferred to Capital Fund Account)
15.4.2	To Domestic					Total
16	To Hire of Conveyance
17	To Wages
18	To Overtime
19	To Honorarium
20	To Other office expenses	E
21	To Expenditure on Research
22	To Consultation expenses
23	To Seminars and conferences
24	To Publications of PNGRB
25	To Rent and Taxes
26	To Interest on loans
27	To Promotional Expenses
28	To Membership fee	F
29	To Subscription	G
35	To Others
	To Leave Salary and Pension
35.1	Contribution
35.2	To Audit Fee
35.3	To Misc.
37	Depreciation
48	To Loss on sale of assets
49	To Bad Debts written off
50	To Provision for bad & doubtful debts
	To Excess of income over Expenditure
	(Transferred to Capital Fund Account)
	Total

Advisor

Secretary

Member(s)

Chairperson

Form – C

Balance Sheet as on 31^st March __________________________

(In Rupees)

A/c Code	Liabilities	Schedule	Current year As on	Previous year As on	A/c code	Assets	Schedule	Current year As on	Previous year As on
40	Funds	I			43	Fixed Assets:	H
40.1	Capital Fund				43.1	Gross Block at Cost
	Add Excess of Income over Expenditure/ less excess of Expenditure over Income				43.2	Less Cumulative depreciation
40.2	Other Funds (specify)				43.3	Net Block
41	Reserves	J			44	Capital Work-in-progress	M
8	Loans:	K			31	Investments & Deposits	N
8.1	Government				31.1	Investment
8.2	Others				31.2	Deposits
42	Current Liabilities and provisions	L			33	Loans and Advances	O
					3.1	Account with Governments	S
					45	Sundry Debtors	P
					36	Cash and Bank Balances	Q
					46	Other Current Assets	R
	Total					Total
	Accounting Policies and Notes to	T

The Schedules referred above form an integral part of Balance Sheet.

Advisor

Secretary

Member(s)

Chairperson

Schedule A

(Fee, Charges and Fines)

(In Rupees)

A/c Code	Description	Current year As on	Previous year As on
2.1	Fee: Registration fee
2.1.1	Adjudication fee
2.1.2	Document access fee Others
2.1.3
2.1.4
	Total
2.2	Charges:
2.2.1	Government
2.2.2	IOCL,BPCL,HPCL,ONGC,GAIL,NRL,CPCL,Balmer Lawrie, Beicco Lawrie, MRPL, OVL,BPRL, EIL & OIL.
2.2.3	Other PSUs
2.2.4	Private Operators
	Total
2.3	Fines
2.3.1	Government
2.3.2	IOCL,BPCL,HPCL,ONGC,GAIL,NRL,CPCL,Balmer Lawrie, Beicco Lawrie, MRPL, OVL,BPRL, EIL & OIL.
2.3.3	Other PSUs Private
2.3.4	Operators
	Total
2.4	Other (specify)
	Grand Total

Note. - In Schedule A information may be furnished under suitable head of account depending upon the transactions.

Schedule B

(Grants)

(In Rupees)

A/c Code	Description	Source	Opening Balance as on	Grants due during the year	Grants received during the year	Closing Balance on
3.1	Government (Account with Governments)
	Total
3.2	Other
3.2.1	Grants
3.2.2
	Total
	Grand Total

Note: Also see Schedule 'S'

Schedule C

(Other Benefits)

(In Rupees)

A/c Code	Description	Current year As on	Previous year As on
13.2	Chairperson and Members:
13.2.1	Leave Travel Concession
13.2.2	Medical Benefits
13.2.3	Others (specify)
	Total
14.3	Officers:
14.3.1	Bonus Ex-gratia
14.3.2	Leave Travel Concession
14.3.3	Medical Benefits
14.3.4	Welfare Expenses
15.3	Staff:
15.3.1	Bonus Ex-gratia
15.3.2	Leave Travel Concession
15.3.3	Medical Benefits
15.3.4	Welfare Expenses
	Total
	Grand Total

Schedule D

(Retirement Benefits)

(In Rupees)

A/c Code	Description	Current year As on	Previous year As on
14.2	Officers:
14.2.1	Contribution to Provident Fund etc.
14.2.2	Pension
14.2.3	Gratuity
14.2.4	Other
	Total
15	Staff:
15.1	Contribution to Provident Fund etc.
15.2	Pension
15.3	Gratuity
15.4	Other
	Total
	Grand Total

Schedule E

(Other Office Expenses)

(In Rupees)

A/c Code	Description	Current year As on	Previous year As on
20.1	Repair and Maintenance
20.1.1	Buildings
20.1.2	Office Equipment
20.1.3	Vehicles
20.1.4	Others
20.2	Electricity and Water
20.3	Insurance and Bank Charges
20.4	Printing
20.5	Stationery
20.6	Postage etc.
20.7	Telephones
20.8	Legal Fee and Expenses
20.9	Vehicle Petrol/ Diesel
20.10	Miscellaneous
	Total

Schedule F

Membership fee

(In Rupees)

A/c Code	Description	Purpose	Period	Amount
				Current Year as on	Previous Year as on
28.1
	Total

Schedule G

(Subscription)

(In Rupees)

A/c Code	Description	Purpose	Period	Amount
				Current Year as on	Previous Year as on
29.1
	Total

Schedule H

(Fixed Assets)

(In Rupees)

A/C Code

Description

Gross Block

Depreciation

Net Block

Cost as on 1-4-

Additions during the year

Deductions during the year

Cost as on 31-3-

As on 1-4-

For Adjustment on year

As on 31-3-

As on 1-4-

Additions during the year

Deductions during the year

Cost as on 31- 3-

43.3.1

Land

43.3.2

Building

43.3.3

Office Equipment

43.3.4

Vehicles

43.3.5

Furnitures and Fixtures

43.3.6

Electrical Appliances

43.3.7

Air-conditioners

43.3.8

Computers

43.3.9

Books and Publications

43/3.10

Others, if any

Total

Previous year

Depreciation to be charged with Straight Line Method at the rates prescribed in the Companies Act, 1956

Schedule I

(Funds)

(In Rupees)

A/c Code	Description	Opening Balance as on	Additions during the year	Deductions during the year	Closing Balance as on
40.1	Capital Fund
40.2	Other Funds (specify)
	Total

Schedule J

(Reserves)

(In Rupees)

A/c Code	Description	Opening Balance as on	Additions during the year	Deductions during the year	Closing Balance as on
41.1
41.2
	Total

Schedule K

(Loans)

(In Rupees)

A/c Code	Description	Opening Balance as on	Received during the year	Payments during the year	Closing Balance as on
8.1	Government
8.2	Other (specify)
	Grand Total

Schedule L

(Current Liabilities and Provisions)

(In Rupees)

A/c Code	Description	Current year as on	Previous year as on
42.1	Sundry Creditors
42.2	Deposit from:
42.2.1	Contractors
42.2.2	Operators and Others
42.3	Income Received in Advance
42.4	Outstanding Expenses
42.5	Provisions
42.6	Other Liabilities
	Total

Schedule M

(Capital Work in Progress)

(In Rupees)

A/c	Description	Opening Balance as on	Additions during the year	Deductions	Closing balance as on
					at cost	Market value
44.1
44.2
	Total

Schedule N

(Investments & Deposits)

(In Rupees)

A/c Code	Description	Opening Balance as on	Additions during the year	Deductions during the year	Closing Balance as on
31.1	Investments
31.2	Deposits
	Total

Schedule O

(Loans and Advances)

(In Rupees)

A/c Code	Description	Current year as on	Previous year as on
33.1	Advances of Employees :
33.1.1	Chairperson and Members
33.1.1.1	For House Building
33.1.1.2	For Purchase of Conveyance
33.1.1.3	TA Advance
33.1.1.4	LTC and other advance
33.1.2	Officers:
33.1.2.1	For House Building
33.1.2.2	For Purchase of Conveyance
33.1.2.3	TA advance
33.1.2.4	LTC and other advance
33.1.3	Staff:
33.1.3.1	For House Building
33.1.3.2	For Purchase of Conveyance
33.1.3.3	TA advance
33.1.3.4	LTC and other advance
33.2	Advance to Suppliers/Contractors
33.3	Others (specify)
	Total

Schedule P

(Sundry Debtors)

(In Rupees)

A/c Code	Description	Current year as on	Previous year as on
45.1	Secured Debtors
45.2.1	Unsecured Debtors
45.2.2	Upto six month old
45.2.2	More than six month old :
45.2.2.1	Considered good
45.2.2.2	Considered doubtful

A/c Code	Description	Current year as on	Previous year as on
	Less :
	Provision for Bad and Doubtful Debts already made Add/ Subtract provision required during the year
	Total (y)
	Total (x-y)

The provision is subtracted, Account Code 50 will appear as income in the Income and Expenditure Account

Schedule Q

(Cash and Blank Balances)

(In Rupees)

A/c Code	Description	Current year as on	Previous year as on
36.1	Balance with Schedule Banks :
36.2	Current Account
36.1.2	Term Deposit Account :
36.1.2.1	Short Term Deposit
36.2	Cash in Hand

Schedule R

(Other Current Assets)

(In Rupees)

A/c Code	Description	Current year as on	Previous year as on
46.1	Claims Receivable
46.2	Security Deposits
46.3	Prepaid Expenses
46.4	PNGRB Publication
46.5	Others (Specify)

Schedule S

(Accounts with Governments)

(Please refer to Schedule 'B')

(In Rupees)

Opening Balance	Amount due	Amount received	Closing balance
In case, in any particular year the amount paid by Government exceeds the sanction, the excess balance in the Accounts with Government will be shown as a liability in the Balance sheet.

Additional Information

	Funds received from Government and utilized during the year
Amount Received					Utilization during the year
	Salary		Traveling Allowances		Other Expenses	Fixed Assets	Current Assets
	Members	Others	Members	Others
Total

Note. - Current Assets include cash in hand/ bank balance/ FDR/ Personal advances to members and other employees etc.

Schedule T

(Accounting Policies and Notes to Accounts)

Significant Accounting Policies

1. Accounts have been prepared on accrual basis2. Provision has been made for full amount of doubtful debts3. In case, excess of expenditure over income exceeds Capital Fund, then the excess amount may be adjusted against other funds (A/c code 40.2) and/ or reserves (A/c code 41)

Notes to Accounts

Contingent Liabilities

Advisor

Secretary

Member(s)

Chairperson