Finance
Finance
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Introduction

Maharashtra Water Supply and Sewerage Board (MWSSB) was established as per MWSSB Act 1976 for Rapid development and proper regularization of water supply and sewerage services in the State. MWSSB was subsequently named as Maharashtra Jeevan Pradhikaran (MJP) in 1997.
Hon’ble Member Secretary of Maharashtra Jeevan Pradhikaran (MJP) is appointed by the State Government and Shri Abhishek Krishna is the Member Secretary of Maharashtra Jeevan Pradhikaran (MJP).

Maharashtra Jeevan Pradhikaran (MJP) is working under the Department of Water Supply and Sanitation, Government of Maharashtra. Maharashtra Jeevan Pradhikaran (MJP) has 196 offices across the state with 6 Regional Offices located at Pune, Konkan, Aurangabad, Amravati, Nagpur, Nashik.

Following offices are working under these 6 regional offices.

  • 14 circle offices headed by Superintending Engineers.
  • 37 Divisional offices headed by Executive Engineers.
  • 143 Sub Division Offices headed by Deputy Engineers
  • MJP training centre Maharashtra Environmental Engineering Training and Research Academy (MEETRA) is located at Nashik headed by Director

Main responsibilities of the Maharashtra Jeevan Pradhikaran are as under:

  • Planning, designing and implementation of water supply and sewerage schemes with the facility of necessary financial provisions.
  • Operation and maintenance of water supply and sewerage schemes as directed by the Government of Maharashtra.
  • Establishing service level benchmark for water supply and sewerage sector.
  • Assisting the Government as well as local bodies in the management of solid and liquid waste.
  • Providing guidance to the Government as well as the local bodies regarding water supply and sewerage schemes.
  • Supporting the Government in preparation of Annual Action Plan and establishment / revision of water supply rate / tax / cess structure.

Member Secretary of the Maharashtra Jeevan Pradhikaran is a post appointed by the State Government and the Hon’ble Member Secretary is the head of Maharashtra Jeevan Pradhikaran.

The following departments are working under the Member Secretary.

Finance Department

Director, Finance is the head of the Finance Department of the Maharashtra Jeevan Pradhikaran.

The Finance Department of Maharashtra Jeevan Pradhikaran performs the responsibilities such as preparation of accounting budget, disbursement of salary to employees, sanctioning pension of employees, disbursement of pension to the pensioners, maintenance of GPF / NPS accounts of employees, disbursement of final dues of the employees after retirement, investment of surplus funds of MJP and control the financial matters etc.

Two Deputy Chief Accountants are working under the Director, Finance. The Deputy Chief Accountant – I deals with all types of matters related to pensions, Provident Fund / National Pension Scheme, investment and loan recovery whereas the Deputy Chief Accountant – II handles budget, fund management, accounts, internal audit and cash related matters.

The Deputy Chief Accounts Officer holds the posts of two senior Accounts Officers, three Accounts Officers and four Assistant Accounts Officers who assist the Finance Department to carry out the above responsibilities. An Internal Audit Officer is employed to assist the Deputy Chief Accountant-II in handling audit matters.

The Finance Department performs the following responsibilities:

  • Preparation of Annual Budget
  • Consolidation of Annual Accounts of MJP
  • Carry out Internal Audit of the officer under MJP
  • Fund Management of MJP
  • Disbursement of pension of around 11000 pensioners
  • Disbursement of wages to employees
  • Maintaining accounts of Employees Provident Fund / National Pension Schemes.
  • Investment of surplus funds of MJP as per the Government guidelines.
  • Controlling the finance department related operations and providing guidance as required.

FUNCTIONS OF FINANCE DEPARTMENT

Budget icon no 1

Budget

Funds Management icon no 2

Funds Management

Accounts Compilation icon no 3

Accounts Compilation

Internal Audit icon no 4

Internal Audit

Pension icon no 5

Pension

GPF / NPS & G.I.S icon no 6

GPF / NPS & G.I.S

Recovery icon no 7

Recovery

Investment icon no 8

Investment

Loan icon no 9

Loan

Cash icon no 10

Cash

Budget forecasting and Funds Management

Annual budget of the Maharashtra Jeevan Pradhikaran is prepared as per clause 15 (2) (G) & 34(1) of Maharashtra Jeevan Pradhikarn’s Act 1976 . Budgeting is a process where Expenditure of next year is planned and necessary fund provisions are made available for future expenditure. Budget provision is done annually (yearly) at MJP. In MJP there are two types of approaches used for budgeting,

  • Capital Budget
  • Revenue Budget

Maharashtra Jeevan Pradhikaran has an annual revenue receipt budget of Rs.1032.60 cores and Capital Receipt Budget Rs.590.41 cores for the financial year 2022-23 and is approved by MJP in its 152 nd Authority meeting held on 13/04/2022 .

Funds Management is the process in which an organisation approves and releases their funds for their scheme / programme as an operational cost, Financial cost or any other cost. Fund management is associated with managing the cash flows of an organisation.

Account compilation

The Accounts have been drawn up under the Historical Cost Convention by following PWD accounting system at field offices combined with commercial accounting system at central office. During the year the MJP has accounted the income from the Delayed Payment Charges on water charges and penal interest on Loan outstanding from MC’s on realisation basis compared to accrual basis, because realisation of such income is significantly uncertain.

The final accounts of the Pradhikaran are prepared in the formats nearer to Schedule VI of the company Act, and as applicable to Section 8 of Company Act 2013, which include Income & Expenditure Account and Balance Sheet, as per Clause 34 (2) of Maharashtra Jeevan Pradhikarn’s Act 1976.

The Annual Accounts of the Authority along with Item Note are prepared and submitted to the Board of Authority for its approval/adoption as per the section 34 (2) of Maharashtra Jeevan Pradhikaran Act 1976 for the each financial year. After adoption/approval, the Annual Accounts of the Authority are audited by Accountant General (A.G.) office .

Internal Audit

This section is responsible for completing internal Audit of MJP’s EE/division offices, SE office, CE office and water works. Accordingly audit programme are charted for verification of records. Internal Audit teams visit subordinate offices for verification of records. This section also consolidates A.G Audit paras and compliances and submit the same to office of A.G and Government.

This section arrange audit programme of A. G. Office at every year. In addition to this, verification of service books of staff, compliance of A.G. reports/follow up, submission of audit reports of MJP accounts, submission of audit programme, progress of audit works, carry out Dead Stock verifications, these jobs are carried out by this section.

Pension

For the Staff of Maharashtra Jeevan Pradhikaran, pension section of Head Office work as an AG office and treasury. After service book verification, pension section sanctions pension payment of employee by issuing PPO and also release the monthly pension payment. Currently Pension section is releasing pension of around 11000 pensioners on monthly basis. Also Gratuity payment, restoration of pension after 80/85 years these jobs are carried out by this section.

Investment Management

As per the guidelines given by Government resolutions of finance department dated 27/10/2015 and 13/03/2020, investments of surplus / excess funds as an operational investment, financial investment or any other investment are made in order to grow the fund.

For the purpose of taking decision for short term and long term investments, two separate committees have been constituted as per G. R. dated-6-8-2002. Accordingly, as per approval of the committee short term and long term investments are made.

As per these guidelines, any temporary surplus available with MJP is placed in short term deposits.

The statutory requirements, such as depreciation, pension, sinking fund and interest earned on temporary surplus of bond money (as per rating structure) are invested in long term deposits up to three years.

GPF and DCPS/NPS

GPF section maintain GPF accounts and DCPS/NPS accounts of employees of MJP. Final payment order of GPF and advances are approved by this section of MJP.