In exercise of the powers conferred by Section 254 of the Kerala Panchayat Raj Act, 1994 (13 of 1994), and in supersession of the Kerala Panchayat (Accounts) Rules, 1965 issued under notification GO (Ms) No. 197/65/A & RDD dated 30th July, 1965 and published as SRO No. 308/65 in the Kerala Gazette No. 31 dated 10th August, 1965, the Government of Kerala hereby make the following rules, namely:

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S.Chapter I PRELIMINARY

S.Chapter II ACCOUNTING SYSTEM

S.Chapter III ACCOUNTING OF INCOME

S.Chapter IV ACCOUNTING OF EXPENDITURE

S.Chapter V INVESTMENTS, SPECIFIC GRANTS AND FUNDS, SPECIAL FUNDS AND OTHER SPECIAL ITEMS

S.Chapter VI PERIOD END PROCEDURES AND RECONCILIATION PROCEDURES

S.Chapter VII GENERAL PROVISIONS

S.Explanatory Note

(This does not form part of the notification, but is intended to indicate its general purport.)

Government of Kerala, as part of its policy for improving the accounting system in Panchayats, proposes to introduce Accrual based Double Entry System of Accounting. The new system of accounting provides relevant accounting principles, procedures and guidelines to ensure complete and timely recording of the financial transactions of the Panchayats and produce fair and relevant financial reports. This policy will enable Panchayats to be more transparent and provide more appropriate financial information to the stakeholders and improve governance, keeping in mind the important citizen centric functions discharged by them. At present the Panchayats are following the Cash based Single Entry System of Accounting as envisaged under the Kerala Panchayat (Accounts) Rules, 1965 and the instructions under GO (P) No. 319/2003/Fin. dtd. 12th June, 2003. To enable the transition to Accrual base

S.Forms

LIST OF FORMS
	Form KPRAR – 1	:	Cash Book/Bank Book
	Form KPRAR – 2	:	Subsidiary Cash Book
	Form KPRAR – 3	: