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Accounts & Finance

The accounts and finance department is headed by the Chief Accounts Officer, reporting to Vice Chairman & Managing Director and is assisted by Senior Accounts Officers and Accounts Officers at the senior and  middle management level. The functions of this department are carried out under the Chief Accounts Officer, Senior Accounts Officers, Accounts Officers, and various Self-Accounting Circles / Units and each such Circle / Unit works under the supervision and charge of Assistant Accounts Officers. Functions of the department are as follows:

Accounting

  • Keeping the books of accounts in accordance with the rules.

  • Internal check of transactions affecting the receipts and expenditure.

Finance

  • Tendering advice to the Management in all matters involving corporate finance.

  • Compilation and control of budget (including Treasury operations) in consultation with other departments.

  • Investments of surplus funds as per the Government of Maharashtra Directives.

  • Debt Servicing.

  • Ensuring no financial irregularity in the transactions.

Receipt and Payments

  • Collection and deposit of Receipts.

  • Preparing payment schedule and arranging payment to the Vendors, employees accordingly.

  • Making payment to the payees.

Financial Control
Preparation of Budget/Annual Plan based on various departmental budgets Monitoring Sources and Uses of Funds according to the Budgeted Plan Debt Servicing - Short Term surplus, if any, is invested in short term deposits with a view to mature on due dates for debt servicing.  As a Financial & Management Advisor the department controls over Receipts and Expenditure; gives Financial Concurrence to Receipt and Expenditure proposals based on approved budget of the year.

Management Information Reporting

  • Preparation and Submission of Periodical Cash Flow Statement bringing out actual receipts and payments as compared to the Budget.

  • Preparation and submission of Quarterly Projected Cash Flow Statement based on Fund Requirements of Operative Departments, Debt Servicing Liability, Administrative and Establishments Expenditure vis-a-vis anticipated Marketing, Estate Collections to VC & MD for information.

Investment Management

  • Short Term Working Capital Management is carried out effectively.

  • Circle-wise finalization of Annual Accounts and Consolidation thereof in Corporate Annual Report.

  • Liaison with Urban Development Department in Government, Bankers, CAG’s Office, Statutory Auditors and other GoM undertakings.

  • Co-ordination of Internal Audit tasks.