The Annual Financial Statement (AFS) 2024–25 for Kanhangad Municipality summarizes the actual financial receipts, operational expenditures, asset creations, and liabilities incurred by the municipality during the financial year running from April 1, 2024, to March 31, 2025.
Core Components of AFS 2024–25
- Receipts & Expenditure (R&P Schedule)
- Revenue Receipts: Captures own-source revenue collected directly by the municipality, including Property Tax, Profession Tax, Entertainment Tax, Trade Licenses, and commercial rents.
- Grants & Plan Allocation: Reflects funds released from the State Finance Commission (SFC), Central Finance Commission (CFC), and Kerala State Plan allocations.
- Capital Receipts: Includes loans, infrastructure grants, and development project funds (e.g., AMRUT, PMAY, and state road funds).
- Income & Expenditure Account
- Computes the operational surplus or deficit for the 2024–25 financial year by balancing regular operational income against non-capital operational expenditures (salaries, street lighting, waste management, maintenance, and welfare distribution).
- Balance Sheet Schedule & Cash Flow Statement
- Assets: Physical infrastructure (municipal buildings, roads, parks), current assets, bank balances, and uncollected tax receivables.
- Liabilities: Municipal deposits, contractor withholdings, loans, and accrued payables.
- Trial Balance: Complete ledger balance ensuring double-entry consistency under the state's standardized accounting frameworks (Sankhya / K-Smart).
