Airport Economic Regulatory Authority (Form of Annual Statement of Accounts, Budget and Annual Report) Rules, 2016.

EXTRAORDINARY PUBLISHED BY AUTHORITY No. 568] NEW DELHI, TUESDAY, AUGUST 16, 2016/SRAVANA 25, 1938 I II III IV V VI --------------------तक MINISTRY OF CIVIL AVIATION NOTIFICATION New Delhi, the 16th August, 2016 G.S.R.797 (E).— In exercise of the powers conferred by clauses (I), (m), (n) and (o) of sub-section (2) of section 51 of the Airport Economic Regulatory Authority of India Act, 2008 (27 of 2008), the Central Government hereby makes the following rules, namely: - 1. Short Title and Commencement. - (1) These rules may be called the Airport Economic Regulatory Authority (Form of Annual Statement of Accounts, Budget and Annual Report) Rules, 2016. (2) They shall come in to force from the date of their publication in Official Gazette. 2. Definitions. - (1) In these rules, unless context otherwise requires, - (a) “Act” means the Airport Economic Regulatory Authority of India Act, 2008 (27 of 2008); (b) “Annexure” means an annexure appended to the form; (c) “Annual report” means the annual report prepared by the Authority under sub-section (2) of section 36 of the Act; (d) “Audit Officer” means the Head of an Office of Audit; (e) “Budget” means the financial statement of receipt and expenditure; (f) “financial year” means the year beginning on the 1st April and ending on the 31st March of the year immediately following; (g) “Form” means the form appended to these rules; (2) words and expression used herein and not defined but defined in the Act shall have the same meanings as assigned to them in the Act. 3. Annual statement of accounts and other relevant records. - At the end of every financial year, the Authority shall prepare with reference to that year balance sheet, an income and expenditure accounts in the following manner namely: - (a) Balance Sheet in Form I ; (b) Income and Expenditure accounts in Form II (c) Receipt and Payment accounts in Form III 4. Maintenance of accounts, etc. –The Authority shall maintain the balance sheet, an income and expenditure accounts and receipt and payment accounts referred to in rule 3, for a minimum period of five years following the year to which it relates and the Schedules to the Financial Statements in respect of Balance Sheet and income and Expenditure accounts are inForm I (A) , the Instructions and Accounting Principles are inForm I (B)and the Notes and instructions for the Schedules are inForm I (C) . 5. Authorized signatory for the balance sheet. - The balance sheet and income and expenditure account, and receipt and payment account referred to in rule 3 above shall be prepared by the accounts Officer of the Authority and shall be signed by the Secretary or in his absence Chairperson of the Authority. 6. Budget. - (1) The Authority shall prepare each year before the first fortnight of February, a budget in Form IV , showing separately the probable receipts and the expenditure which it proposes to incur during the next financial year. (2) The Authority may prepare a supplementary budget for financial year in Form V , giving detailed revised estimates and reason of inescapable expenditure which are like to be incurred during the year for which no provision has been made in the sanctioned budget. 7. Preparation and furnishing of Annual Report. - (1) The Authority shall prepare following the close of the financial year within one hundred and eighty days, an Annual Report in the Schedule 26, in Form VI , giving a summary of its activities during the previous year. Provided that the Central Government may, for reasons to be recorded in writing, extend the period of one hundred and eighty days up to two hundred days on a request from the Authority in this behalf. (2) The Authority shall forward the Annual report prepared under sub-rule (1) to the Central Government as early as possible but not later than ten weeks after it has been prepared. (3) The Authority shall forward the Annual Report to the Central Government for the first year of its establishment along with the Annual Report for the succeeding year. 8. The Annual statement of the account shall be submitted to the Audit Officer on or before 30th June of the following year to which the accounts relates, by which the Authority shall submit its accounts to the Audit Officer. ARUN KUMAR, Jt. Secy. FORMS FORM OF FINANCIAL STATEMENTS, BUDGET AND ANNUAL REPORT FOR THE AIRPORTS ECONOMIC REGULATORY AUTHORITY OF INDIA CONTENTS Form FORM Page BALANCE SHEET I INCOME & EXPENDITURE ACCOUNT II SCHEDULES TO THE ABOVE FINANCIAL STATEMENTS III 11-29 INSTRUCTIONS AND ACCOUNTING PRINCIPLES I(A) 31-32 NOTES AND INSTRUCTIONS FOR THE SCHEDULES I(B) 34-64 STATEMENT OF RECEIPTS AND PAYMENTS I(C) 66 BUDGET IV 67 SUPPLEMENTARY BUDGET V 68 ANNUAL REPORT VI 69 FORM- I BALANCE SHEET FORM OF FINANCIAL STATEMENTS OF AIRPORTS ECONOMIC R EGULATORY AUTHORITY OF INDIA BALANCE SHEET AS AT-------------------------- ----------------------------------------------------------------------- CORPUS/ CAPITAL FUND AND LIABILITIES CORPUS/ CAPITAL FUND RESERVES AND SURPLUS EARMARKED/ ENDOWMENT FUNDS SECURED LOANS AND BORROWINGS UNSECURED LOANS AND BORROWINGS DEFERRED CREDIT LIABILITIES CURRENT LIABILITIES AND PROVISIONS Schedule Current Year Previous Year TOTAL ….. ….. ASSETS FIXED ASSETS INVESTMENTS-FROM EARMARKED/ENDOWMENT FUNDS INVESTMENTS-OTHERS CURRENT ASSETS, LOANS, ADVANCES ETC. MISCELLANEOUS EXPENDITURE (to the extent not written off or adjusted) TOTAL ….. ….. SIGNIFICANT ACCOUNTING POLICIES CONTINGENT LIABILITIES AND NOTES ON ACCOUNTS FORM- II INCOME & EXPENDITURE ACCOUNT FORM OF FINANCIAL STATEMENTS OF AIRPORTS ECONOMIC R EGULATORY AUTHORITY OF INDIA INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD /YEAR ENDED--------------------------- INCOME Income from Sales/Services Income from Investments (Income on Invest. From earmarked/endow. Funds transferred to Funds) Income from Royalty, Publication etc. Interest Earned Other Income Increase/ (decrease) in stock of Finished goods and works-in-progress Schedule Current Year Previous Year TOTAL (A) ….. ….. EXPENDITURE Establishment Expenses Other Administrative Expenses etc. Expenditure on Grants, Subsidies etc. Interest Depreciation (Net Total at the year-end – corresponding to Schedule 8) TOTAL (B) ….. ….. Balance being excess of Income over Expenditure (A-B) Transfer to Special Reserve (Specify each) Transfer to / from General Reserve BALANCE BEING SURPLUS/(DEFICIT) CARRIED TO CORPUS/ CAPITAL FUND SIGNIFICANT ACCOUNTING POLICIES CONTINGENT LIABILITIES AND NOTES ON ACCOUNTS FORM- III SCHEDULES FORM OF FINANCIAL STATEMENTS OF AIRPORTS ECONOMIC R EGULATORY AUTHORITY OF INDIA SCHEDULES FORMING PART OF BALANCE SHEET AS AT----- ----------------------------------------- (Amount – Rs.) Balance as at the beginning of the year Add : Contributions towards Corpus/Capital Fund Add/ (Deduct) : Balance of net income/(expenditure) transferred from the Income and Expenditure Account Current Year Previous Year BALANCE AS AT THE YEAR-END ….. ….. SCHEDULE 2 – RESERVES AND SURPLUS : 1. Capital Reserve : As per last Account Addition during the year Less : Deductions during the year 2. Revaluation Reserve : As per last Account Addition during the year Less : Deductions during the year 3. Special Reserves : As per last Account Addition during the year Less : Deductions during the year 4. General Reserve : As per last Account Addition during the year Less : Deductions during the year Current Year Previous Year TOTAL ….. ….. FORM OF FINANCIAL STATEMENTS OF AIRPORTS ECONOMIC R EGULATORY AUTHORITY OF INDIA SCHEDULES FORMING PART OF BALANCE SHEET AS AT------ ------------------------------------------------ (Amount – Rs) SCHEDUEL 3 – EARMARKED/ENDOWMENT FUNDS a) Opening balance of the funds b) Additions to the Funds: i. Donations/grants ii. Income from Investments made on account of funds iii. Other additions (specify nature) FUNDS-WISE BRAK UP TOTALS TOTAL (a+b) ….. of funds i. Capital Expenditure - Fixed Assets - Others Total - Salaries, Wages and allowances etc. - Rent - Other Administrative expenses Total TOTAL (c) ….. ….. ….. ….. ….. ….. NET BALANCE AS AT THE YEAR-END (a+b+c) ….. ….. ….. ….. ….. ….. Notes 1) Disclosures shall be made under relevant heads based on conditions attaching to the grants. 2) Plan Funds received from the Central/State Governments are to be shown as separate Funds and not to be mixed up with any other Funds. FORM OF FINANCIAL STATEMENTS OF AIRPORTS ECONOMIC R EGULATORY AUTHORITY OF INDIA SCHEDULES FORMING PART OF BALANCE SHEET AS AT-- ---------------------------------------------------- (Amount – Rs) SCHEDULE 4 – SECURED LOANS AND BORROWINGS: 1. Central Government 2. State Government (Specify) 3. Financial Institutions a) Term Loans b) Interest accrued and due 4. Banks: a) Term Loans -Interest accrued and due b) Other Loans (specify) -Interest accrued and due 5. Other Institutions and Agencies 6. Debentures and Bonds 7. Others (Specify) Current Year Previous Year TOTAL ….. ….. Note : Amounts due within one year FORM OF FINANCIAL STATEMENTS OF AIRPORTS ECONOMIC R EGULATORY AUTHORITY OF INDIA SCHEDULES FORMING PART OF BALANCE SHEET AS AT-- ---------------------------------------------------- (Amount – Rs) SCHEDULE 5 – UNSECURED LOANS AND BORROWINGS 1. Central Government 2. State Government (Specify) 3. Financial Insitutions 4. Banks: a) Term Loans b) Other Loans (specify) 5. Other Institutions and Agencies 6. Debentures and Bonds 7. Fixed Deposits 8. Others (Specify) Current Year Previous Year TOTAL ….. ….. Note : Amounts due within one year SCHEDULE 6 – DEFFERRED CREDIT LIABILITIES: a) Acceptances secured by hypothecation of capital equipment and other assets b) Others Current Year Previous Year TOTAL ….. ….. Note : Amounts due within one year. FORM OF FINANCIAL STATEMENTS OF AIRPORTS ECONOMIC R EGULATORY AUTHORITY OF INDIA SCHEDULES FORMING PART OF BALANCE SHEET AS AT-- ---------------------------------------------------- (Amount – Rs) SCHEDULE 7 – CURRENT LIABILITIES AND PROVISIONS A. CURRENT LIABILITIES 1. Acceptances 2. Sundry Creditors: a) For Goods b) Others 3. Advances Received 4. Interest accrued but not due on: a) Secured Loans /borrowings b) Unsecured Loans /borrowings 5. Statutory Liabilities: a) Overdue b) Others 6. Other current Liabilities Current Year Previous Year TOTAL (A) ….. ….. B. PROVISIONS 1. For Taxation 2. Gratuity 4. Accumulated Leave Encashment 5. Trade Warranties/Claims 6. Others (Specify) TOTAL (B) ….. ….. TOTAL (A+B) ….. ….. FORM OF FINANCIAL STATEMENTS OF AIRPORT ECONOMIC RE GULATORY AUTHORITY OF INDIA SCHEDULES FORMING PART OF BALANCE SHEET AS AT------ ------------------------------------------------- (Amount - Rs.) DESCRIPTION A.FIXED ASSESTS 1. LAND : a) Freehold b) Leasehold 2. BUILDINGS: a) On Freehold Land b) On Leasehold Land d) Superstructures on Land not belonging to the entity 3. PLANT MACHINERY & EQUIPMENT 4. VEHICLES 5. FURNITURE, FIXTURES 6. OFFICE EQUIPMENT 8. ELECTRIC INSTALLATIONS 9.LIBRARY BOOKS 10. TUBEWELLS & 11. OTHER FIXED ASSESTS GROSS BLOCK DEPRECIATION NET BLOCK as at beginning of the year Additions during the year Deductcons during the year at the year- end As at the beginning of the year On Addition s during the year On Deduction s during the year Total up to the year- end As at the Current year- end As at the Previous year-end TOTAL OF CURRENT YEAR ……. ……. (…….) ……. ……. ……. ……. ……. ……. ……. PREVIOUS YEAR ……. ……. (…….) ……. ……. ……. ……. ……. ……. B. CAPITAL WORK-IN-PROGRESS TOTAL ……. ……. (Note to be given as to cost of assets on hire purchases basis included above) FORM OF FINANCIAL STATEMENTS OF AIRPORT ECONOMIC RE GULATORY AUTHORITY OF INDIA SCHEDULES FORMING PART OF BALANCE SHEET AS AT------ ------------------------------------------------- (Amount - Rs.) SCHEDULE-9 INVESTMENT FROM EARMARKED/ENDOWMENT FUNDS 1. In Government Securities Current Year Previous Year 2. Other approved Securities ……. ……. 3. Shares ……. ……. 4. Debentures and Bounds ……. ……. 5. Subsidiaries and Joint Ventures ……. ……. 6. Other (to be specified) ……. ……. TOTAL SCHEDULE 10- INVESTMENT-OTHERS 1. In Government Securities Current Year Previous Year 2. Other approved Securities ……. ……. 3. Shares ……. ……. 4. Debentures and Bounds ……. ……. 5. Subsidiaries and Joint Ventures ……. ……. 6. Other (to be specified) ……. ……. TOTAL FORM OF FINANCIAL STATEMENTS OF AIRPORT ECONOMIC RE GULATORY AUTHORITY OF INDIA SCHEDULES FORMING PART OF BALANCE SHEET AS AT------ ------------------------------------------------- (Amount - Rs.) ADVANCES ETC Current Year Previous Year A. CURRENT ASSETS: 1. Inventories a) Store and Spares ……. ……. a) Loose Tools ……. ……. b) Stock-in-trade Finished Goods ……. ……. Work-in-progress ……. ……. Raw Materials ……. ……. ……. ……. 2. Sundary Debtors: a) Debts Outstanding for a period exceeding six months b) Others ……. ……. 3. Cash balances in hand (including cheques/drafts and imprest) 4. Bank Balances: a) With Scheduled Banks: -On Current Accounts ……. ……. -On Deposit Accounts(includes margin money) -On Savings Accounts ……. ……. ……. ……. b) With non-Scheduled Banks: -On Current Accounts ……. ……. -On Deposit Accounts ……. ……. -On Savings Accounts ……. ……. TOTAL (A) ……. ……. FORM OF FINANCIAL STATEMENTS OF AIRPORT ECONOMIC RE GULATORY AUTHORITY OF INDIA SCHEDULES FORMING PART OF BALANCE SHEET AS AT------ ------------------------------------------------- (Amount - Rs.) ADVANCES ETC (Contd.) Current Year Previous Year B. LOANS, ADVANCES AND OTHERS ASSETS: 1. Loans a) Staff ……. ……. b) Other Entities engaged in activities/objectives similar to that of the Entity 2. Advances and other amounts recoverable in cash or in kind for value to be received: a) On Capital Account ……. ……. b) Prepayments ……. ……. c) Others ……. ……. 3. Income Accrued: a) On Investment from Earmarked/Endowment Funds b) On Investment – Others ……. ……. c) On Loans and advances ……. ……. d) Others ……. ……. ……. ……. (including income due unrealised – Rs……) 4. Claims Receivable ……. ……. TOTAL (A) ……. ……. TOTAL (A+B) ……. ……. FORM OF FINANCIAL STATEMENTS OF AIRPORT ECONOMIC REGULATORY AU THORITY OF INDIA SCHEDULES FORMING PART OF INCOME & EXPENDITURE FOR THE PERIOD /YEARS ENDED---------------------- (Amount - Rs.) SCHEDULE 12- INCOME FROM SALES/SERVICES 1. Income from Sales a) Sale of Finished Goods b) Sale of Raw Material c) Sale of Scraps 2. Income from Services a) Labour and Processing Charges Current Year Previous Year c) Agency Commission and Brokerage TOTAL SCHEDULE 13 – GRANTS/SUBSIDIES (Irrevocable Grants & Subsidies Received) Current Year Previous Year 1) Central Government ……. ……. 2) State Government(s) ……. ……. 3) Government Agencies ……. ……. 4) Institutions/Welfare Bodies ……. ……. 5) International Organizations ……. ……. 6) Others (Specify) ……. ……. TOTAL SCHEDULE 14- FEES/SUBCRIPTIONS Current Year Previous Year 1) Entrance Fees ……. ……. 2) Annual Fees/Subscriptions ……. ……. 3) Seminar/Program Fees ……. ……. 4) Consultancy Fees ……. ……. 5) Others (Specify) ……. ……. TOTAL Note- Accounting Policies towards each item are to be disclosed FORM OF FINANCIAL STATEMENTS OF AIRPORT ECONOMIC REGULATORY AU THORITY OF INDIA SCHEDULES FORMING PART OF INCOME & EXPENDITURE FOR THE PERIOD/ YEARS ENDED---------------------- (Amount - Rs.) SCHEDULES 15- INCOME FROM INVESTMENTS (Income on Invest. From Earmarked/Endowment Founds transferred to Funds) Investment form Earmarked Current Year Previous Year Current Year Previous Year 1) Interest a) On Govt. Securities ……. ……. ……. ……. 2) Dividends: a) On Shares ……. ……. ……. ……. b) On Mutual Fund Securities ……. ……. ……. ……. 3) Rents ……. ……. ……. ……. 4) Other (Specify) ……. ……. ……. ……. TOTAL TRANSFERRED TO EARMARKED/ENDOWMENT FUND FORM OF FINANCIAL STATEMENTS OF AIRPORT ECONOMIC REGULATORY AU THORITY OF INDIA SCHEDULES FORMING PART OF INCOME & EXPENDITURE FOR THE PERIOD /YEARS ENDED---------------------- (Amount - Rs.) SCHEDULE 16- INCOME FROM ROYALTY, PUBLICATION ETC. Current Year Previous Year 1) Income from Royalty ……. ……. 2) Income from Publication ……. ……. 3) Other (specify) ……. ……. TOTAL ……. ……. SCHEDULE 17- I