Indian Railway Codes and Manuals-Stores code- Vol-II-Chapter-30 (XXX)

 


CHAPTER XXX


THE ANNUAL STATEMENT OF STORES TRANSACTIONS

3001. A statement of the actual balances of stores in hand at the end of each financial year should be prepared by each Railway administration in Form S. 3001 and should reach the Railway Board along with its accompaniments by the 1st November of the year following.

 

3002. The statement (S. 3001) should show the money value of the stores in hand in thousands of rupees under each major group of stores, and the figures should be sub-divided and arranged as to distinguish the ordinary stores, from other categories of stores viz.


(a) Stores obtained for special works, i.e. specially, obtained for important works of additions or renewals.

(b) Emergency stores which comprise items which do not ordinarily wear out or require renewal bu of which it is essential to maintain stock to meet emergency demand due to breakage or unanticipated deterioration and which are not readily available in India.

(c) Surplus stores the figures for which should be sub-divided into two classes viz.

(i) Movable or live surplus i.e. items of stores which have not been issued for a period of 24 months but which, it is anticipated, may be utilised in the near future; and

(ii) Dead surplus which comprise items of stores, which have not been issued for the past 24 months and which, it is considered are not likely to be utilised on any railway within the next two years.

3003. It should be seen that when the anticipations of movable surplus stores being used do not materialise, the relevant items are transferred to Dead Surplus. Before classifying any stores as dead surplus, it should be asscertained as far as feasible that the material is not likely to be in demand by other Railways. The value of dead surplus stock should be suitably written down if necessary to scrap values, after survey by Survey Committee.

3004. 50 per cent of issues (Column 3a of Form S. 3001) : The comparison of actual balances of 'Ordinary Stores with 50 per cent of issues' is with a view to assess the endeavours of the Railway Administrations to reduce and restrict the actual balance to the limit.

3005. Returned Stores (Column 3b of Form S. 3001) : The materials returned from works lead to the accumulation, ultimately, of surplus and unserviceable stores on railways. The receipts under 'Ordinary Stores' should show separately :—

(a) receipt by purchases; and

(b) receipts of materials returned from works, to enable an idea to be obtained on the proportion of materials returned from works to new stores purchased in the markets or manufactured in railway workshops.

3006. Balance of Materials-at-Site : A review of the balances of the material-at-site account for the year should be prepared in the form shown as Annexure B to Form s. 3001 and attached to the statement. This analysis stores balances under this head by each Division and by the following sub-heads :

1. Completed works.
2. Works in progress.
3. Works not yet started.
4. Works not to be done.


3007. Balances of Charged-off Imprests : A statement of balances of Charged-off imprests comparing the balance at the end of the year with each category of imprest holder in each division with the total of the money limits fixed by the General Manager (vide paragraph 1810) should be submitted as Annexure C to Form S. 3001 on all railways where such system is in force.

3008. Certificate of Balances by Chief Accounts Officer : A certificate of the balances should be furnished by the Chief Accounts Officer over his signature in the form of answers to the questionnaire which is an annexure to the Annual Statement (S. 3001).

3009. Note Accompanying the Statement : The statement should be accompanied by a note which should show :—

(a) the balance of stores for the last ten years, in order to show the fluctuations ;
(b) the increase or decrease under each individual head of stores in paragraph 201 in the year under review and the reasons for the same; and
(c) the details of the verifications of stores carried out during the year.

3010. Preparation of the Statement :—The statement should be prepared by the Controller of Stores, the assistance of the Accounts Officer being taken for the preparation of the Financial Statements. The Chief Accounts Officer is personally responsible for the accuracy of the certificate mentioned in paragraph 3008. The Controller of Stores should also prepare the note to accompany the statement, (vide paragraph 3009). The draft statement should be submitted to the General Manager who is responsible for reviewing it carefully before submitting it finally to the Railway Board over his own signature.

Multiple choice questions:

1.When should the annual statement of stores transactions be prepared and submitted to the Railway Board?

A. By October 1st
B. By November 1st of the following year
C. By December 1st of the current year
D. By January 1st of the following year

Answer: B. By November 1st of the following year

2.What does the statement S. 3001 need to show about the money value of stores?

A. Total expenditure on stores
B. Money value of stores in thousands of rupees, subdivided by categories
C. Percentage of surplus stores
D. Total number of stores in hand

Answer: B. Money value of stores in thousands of rupees, subdivided by categories

3.Which category of stores includes items obtained for special works?

A. Emergency stores
B. Ordinary stores
C. Special works stores
D. Surplus stores

Answer: C. Special works stores

4.How should surplus stores be categorized according to the annual statement?

A. Emergency and Dead
B. Movable and Dead
C. Ordinary and Special
D. Live and Scrap

Answer: B. Movable and Dead

5.What should be done if movable surplus stores are not utilized as anticipated?

A. Transfer them to Dead Surplus
B. Write off their value immediately
C. Classify them as Emergency stores
D. Increase their reported value

Answer: A. Transfer them to Dead Surplus

6.What does the '50 per cent of issues' column in Form S. 3001 compare?

A. Value of surplus stores to new purchases
B. Actual balances of Ordinary Stores to 50 per cent of issues
C. Value of returned stores to new purchases
D. Value of materials-at-site to completed works

Answer: B. Actual balances of Ordinary Stores to 50 per cent of issues

7.What should the receipts under 'Ordinary Stores' in the statement indicate?

A. Total number of stores issued
B. Receipts by purchases and materials returned from works
C. Value of emergency stores
D. Total surplus stores

Answer: B. Receipts by purchases and materials returned from works

8.What form should the review of the balances of materials-at-site be prepared in?

A. Annexure A
B. Annexure B
C. Annexure C
D. Form S. 3001

Answer: B. Annexure B

9.Which categories should the review of materials-at-site balances be divided into?

A. Completed works, Works in progress, Works not yet started, Works completed
B. Completed works, Works in progress, Works not yet started, Works not to be done
C. Completed works, Planned works, Works under review, Works to be approved
D. Current works, Past works, Future works, Cancelled works

Answer: B. Completed works, Works in progress, Works not yet started, Works not to be done

10.What should be submitted as Annexure C to Form S. 3001?

A. Balance of materials-at-site
B. Statement of balances of Charged-off Imprests
C. Certificate of Balances by Chief Accounts Officer
D. Note accompanying the statement

Answer: B. Statement of balances of Charged-off Imprests

11.Who is responsible for certifying the balances in the annual statement?

A. Controller of Stores
B. Accounts Officer
C. Chief Accounts Officer
D. General Manager

Answer: C. Chief Accounts Officer

12.What should the note accompanying the statement include?

A. Forecast of future store purchases
B. Balance of stores for the last ten years, changes in each head of stores, and details of verifications
C. Summary of surplus and dead surplus stores
D. List of all stores issued and returned

Answer: B. Balance of stores for the last ten years, changes in each head of stores, and details of verifications

13.Who is responsible for preparing the annual statement and the accompanying note?

A. Chief Accounts Officer
B. Accounts Officer
C. Controller of Stores
D. General Manager

Answer: C. Controller of Stores

14.What should be done with the draft annual statement before it is submitted to the Railway Board?

A. Review by the Chief Accounts Officer
B. Certification by the General Manager
C. Review by the General Manager
D. Approval by the Railway Board

Answer: C. Review by the General Manager

15.Which document should show the fluctuations in the balance of stores over the last ten years?

A. Annual Statement of Expenditure
B. Note accompanying the Annual Statement
C. Certificate of Balances
D. Balance of Charged-off Imprests

Answer: B. Note accompanying the Annual Statement

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