CHARTERED ACCOUNTANTS - NISG (xi)a.pdfWe conducted our audit in accordance with auditing standards...
Transcript of CHARTERED ACCOUNTANTS - NISG (xi)a.pdfWe conducted our audit in accordance with auditing standards...
M. ANANDAM & co.CHARTERED ACCOUNTANTS
AUDITORS' REPORT
ToThe Members ofMIs. NATIONAL INSTITUTE FOR SMART GOVERNMENTHyderabad
1. We have audited the attached Balance Sheet of MIs NATIONAL INSTITUTE FORSMARTGOVERNMENTas at 31st March,2009and also the Incomeand ExpenditureAccount of the Company for the year ended on that date annexed thereto. These financialstatements are the responsibility of the Company's management. Our responsibility is toexpress an opinion on these financial statements based on our audit.
2. We conducted our audit in accordance with auditing standards generally accepted inIndia. Those Standards require that we plan and perform the audit to obtain reasonableassurance about whether the financial statements are free of material misstatement. Anaudit includes examining, on a test basis, evidence supporting the amounts anddisclosures in the financial statements. An audit also includes assessing the accountingprinciples used and significant estimates made by management, as well as evaluating theoverall financial statement presentation. We believe that our audit provides a reasonablebasis for our opinion.
3. We report that
a. We have obtained all the information and explanation, which to the best of ourknowledge and belief were necessary for the purpose of our audit.
b. In our opinion, proper books of accounts as required by law have been kept by thecompany, so far as it appears from our examination of the books.
c. The Balance Sheet and Income & Expenditure account referred to in this reportare in agreement with the books of account maintained by the company.
d. In our opinion, Balance Sheet and Income & Expenditure account dealt with bythis report complies with the Accounting Standards referred to in sub-section (3C)of Section 211 of the Companies Act, 1956.
e. On the basis of written representations received from the directors, as on 31st
March, 2009 and taken on record by the Board of Directors, we report that noneof the directorsis disqualifiedas on 31st March2009 from being appointedas adirector in terms of clause (g) of sub-section (1) of section 274 of the CompaniesAct, 1956.
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7 'A', SURYATOWERS, SARDAR PATELROAD, SECUNDERABAD -500 003.PHONE: 27812377,27812034,FAX:27812091URL: www.anandam.in
f. In our opinion, and to the best of our information and according to theexplanations given to us, the said accounts give the information required by theCompanies Act, 1956, in the manner so required and give a true and fair view inconformity with the accounting principles generally accepted in India:
i) in the case of Balance Sheet, of the state of affairs of the Company as at31st March, 2009; and
ii) in the case of Income and Expenditure Account, of the Surplus of theCompany for the year ended on that date.
Place: HyderabadDate: 23.09.2009
For M.Anandam & Co.,Chartered Accountants
~M.V. Ranganath
Partner .
M.No.28031
~
M. ANANDAM & co.CHARTERED ACCOUNTANTS
FORM NO. lOB
[Seerule17B]
Audit report under section 12A(b) of the Income-tax Act, 1961, in the case of
charitable or religious trusts or institutions
*1/ We have examined the balance sheet of MlS.National Institute For Smart Government, 1st Floor,Astra Towers, ~ CII(Green Business Center) Kondapur, Hitech City, Hyderabd as at 31st March2009 and the income and expenditure account for the year ended on that date which are in agreementwith the books of account maintained by the said company
*1/ We have obtained all the information and explanations which to the best of *my / our knowledgeand belief were necessary for the purposes of the audit. In *my / our opinion, proper books of accounthave been kept at the registered office of the above-named company visited by *me / us so far asappears from *my / our examination of the books.
In *my / our opinion and to the best of *my / our information, and according to information given to*me / us, the said accounts give a true and fair view.
(i) in the case of the balance sheet, of the state of affairs of the above named company asat 31st March 2009, and
(ii) in the case of the Income and Expenditure account, of the excess of income' overexpenditure of its accounting year ending on 31st March 2009
The prescribed particulars are annexed hereto.
Place: Secunderabad
Date: 23.09.2009
7 'A', SURYATOWERS, SARDAR PATELROAD, SECUNDERABAD -500 003.PHONE: 27812377, 27812034, FAX: 27812091 URL: www.anandam.in
M. Anandam Co.,Chartered Accountants
ANNEXURE
STATEMENT OF PARTICULARS
1.APPLICATION OF INCOME FOR CHARITABLE OR RELIGIOUS PURPOSES
1 Amount of income of the previous year applied to charitable / to religiouspurposes in India during that year Rs 20,61,20,468
2 Whether the trust / institution* has exercised the option under clause (2) of the
Explanation to section 11(1)7 If so, the details of the amount of income deemed to
have been applied to charitable or religious purposes in India during the previous
year. --N.A.--
3 Amount of income accumulated or set apart* / finally set apart for application to
charitable or religious purposes, to the extent it does not exceed 15 per cent of the
income derived from property held under trust wholly* / inpart only for such
purposes. Rs 2,02,16,402
4 Amount of income eligible for exemption under section 11(1)(c) (Give details)--NIL --
5 Amount of income, in addition to the amount referred to in item 3 above,
accumulated or set apart for specified purposes under section 11(2). --NIL--
6 Whether the amount of income mentioned in item 5 above has been invested or
deposited in the manner laid down in section 11(2)(b) ? If so, the details thereof Yes in scheduledbanks
7 Whether any part of the income in respect of which an option was exercised under
clause (2) of the Explanation to section 11(1) in any earlier year is deemed to be
income of the previous year under section l1(IB)? If so, the details thereof--N.A.--
8 Whether, during the previous year, any part of income accumulated or set apart for
specified purposes under section 11(2) in any earlier year --(a) has been applied for purposes other than charitable or religious
purposes or has ceased to be accumulated or set apart for applicationthereto, or
has ceased to remain invested in any security referred to in section
11(2)(b) (i) or deposited in any account referred to in section 11(2)(b)(ii)or section 11(2)(b)(iii), or
has not been utilised for purposes for which it was accumulated or set
apart during the period for which it was to be accumulated or set apart,or in the year immediately following the expiry thereof? If so, the detailsthereof
--No --
(b)
--No--(c)
-- No --
II. APPLICATION OR USE OF INCOME OR PROPERTYFOR THE BENEFIT OF PERSONS REFERRED
TO IN SECTION 13(3)
1 Whether any part of the income or property of the *trust / institution was lent, orcontinues to be lent, in the previous year to any person referred to in section 13(3)(hereinafter referred to in this Annexure as such person)? If so, give details of the
2 Whether any land, building or other property of the *trust / institution was made,or continued to be made, available for the use of any such person during theprevious year? If so, give details of the property and the amount of rent orcompensation charge
3 Whether any payment was made to any such person during the previous year byway of salary, allowance or otherwise? If so, give details
4 Whether the services of the *trust / institution were made available to any suchperson during the previous year? If so, give details thereof together withremuneration or compensation received, if any
5 Whether any share, security or other property was purchased by or on behalf of the*trust / institution during the previous year from any such person? If so, givedetails thereof together with the consideration paid
6 Whether any share, security or other property was sold by or on behalf of the *trust/ institution during the previous year to any such person? If so, give details thereoftogether with the consideration received
7 Whether any income or property of the *trust / institution was diverted during theprevious year in favour of any such person? If so, give details thereof together withthe amount of income or value of property so diverted
8 Whether the income or property of the *trust / institution was used or appliedduring the previous year for the benefit of any such person in any other manner? Ifso, give details
M. Anandam Co.,Chartered Accountants
-- No --
-- No --
-- Nil--
-- No --
-- No --
-- No --
-- No --
-- No --
M. Anandam Co.,Chartered Accountants
III. INVESTMENTS HELD AT ANY TIME DURING THE PREVIOUS YEAR(S) INCONCERNS IN WHICH PERSONS REFERRED TO IN SECTION 13(3)
HAVE A SUBSTANTIAL INTEREST
Place: SecunderabadDate: 23.09.2009
for M. Anandam & Co.,Chartered Accountants
~~M.No 28031Partner
51. Name and address of Where the concern is Nominal value of the Incomefrom Whether theNo. the concern a company, number investment the amount in co1.4
and class of shares Investment exceeded 5 per centheld of the capital of the
concern during theIprevious year -say,
1 2 3 4 5 6
-NIL -
TOTAL:
NATIONAL INSTITIITE FOR SMART GOVERNMENT
1stFloor. Astra Towers. Opp CII (Green Business Centre). Kondapur. Hi-Tee City. Hyderabad
DIRECTOR'S REPORT
ToMembers ofNATIONALINSTITIITEFORSMARTGOVERNMENT
Your Directors have pleasure in presenting the 7th Annual Report together with the AuditedAccounts for the year ended 31stMarch 2009.
Financial Results:
Dividend:
The Company is restricted from distributing dividend in terms of Section 25 of the CompaniesAct, 1956.
Review of performance:For the year ended March 2009. the Company achieved a revenue of Rs. 226,336,870/- (previousYear Rs. 122,062,827/-) and posted a surplus ofRs. 17,755,352/- (Previous Year Rs.8,758,012/-)
The Company is striving hard to explore various possibilities to expand it business in the e-
governance sector. The response is encouraging on account of increased awareness of theimportance of e-govemance. The Company is expected to enhance is operations substantiallyduring 2009-10. The Company focuses on Strategic Planning, Project Development and CapacityBuilding for e-Govemance.
Deposits:The company has not accepted any deposits during the year under review.
Directors:
In terms of the Articles of Association, no Directors will retire by rotation.
Particulars Year ended Year ended
31st March 2008 31st March 2009
(Rs.) (Rs.)Gross Income 122,062,827 226,336,870
Total Expenditure 111,903,467 205,226,597
Surplus before Depreciation 10,159,360 21,110,273
Depreciation 1,401,348 3,354,921
Add/Less Prior Period Adjustments - -
Provision for Taxation - -
Surplus for the year 8,758,012 17,755,352
Auditors:
The auditors Mis M.Anandam & Co., Chartered Accountants shall retire at the ensuing AnnualGeneral Meeting and have confirmed their eligibility for reappointment. Their appointment is
proposed through a special resolution in terms of Section 224 A of the Companies Act, 1956.
Energy. Technology. Foreign exchange earnings and outgo:Research steps are integratep and are inbuilt into the e-Governance Project Development
processes. The operations of the Company are not power intensive. However sufficient steps aretaken for conserving power. The Company also ensures adequate quality norms. There wereforeign exchange earnings Rs.2,659,423/- (Previous Year Nil) foreign exchange outgo Rs.901,5301- (Previous Year Rs.5S,619/-) for the Company during the year.
Personnel Resources:
Skilled professionals are integral to the Company's business. Hence the Company strives to attractand retain superior talent through various Human Resources initiatives and steps.
Information as required under Section 217 (2 A) ofthe Companies Act, 1956 is not given as noneof the employees are in receipt of remuneration as per the limits fixed there under.
Directors' responsibility statement:
As required under Section 217(2AA) of The Companies Act, 1956 it is hereby stated that:
a) In the preparation of the annual Accounts, the applicable accounting standards had beenfollowed along with proper explanation relating to material departures;
b) The Directors had selected such accounting policies and applied them consistently andmade judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the Company at the end of the financial year and of theprofit or loss of the Company for that period;
c) The Directors had taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act, 1956 forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities; and
d) The Directors had prepared the annual accounts on a going concern basis.
Acknowledgement:
Yours Directors wish to acknowledge the contributions of the employees and the cooperation ithas received from esteemed clients, suppliers and other related agencies, during the year.
Place: Hyderabad
~the Board of DireCtOrsDate: 2:~~_c:'_<J.'2-~~. Director
SOURCES OF FUNDS:
Shareholders' Funda) Share Capitalb) Share Application Moneyc) Reserves &.Surplus
Grants II
Total
APPLICATION OF FUNDS:
Fixed AssetsGross BlockLess: DepreciationNet Block
m
Current Assets, Loans & AdvancesSu nd ry debtorsCash and Bank BalancesLoans and Advances
Total Current Assets
IV
Less: Current Liabilities &.ProvisionsCurrent LiabilitiesNet Current AssetsMiscellaneous Expenses
(to the extent not written off )
V
Total
258,446,647 105.630,019
258,446,647 105,630,019
Significant Accounting Polices I VII&.Notes to Accounts
The schedules referred to above form an Integral part of the FiricinciaI statements
51,000,000 I 51,000,000
29,411,500 I
29,411,50021,588,500 21,588,500
19,696,278
I
1,940,926
187,750,369 52,689,093
17,674,500 I
15,033,83313,353,258 9,586,040
4,321,242 5,447,793
111,834,396 46,165,922186,486,890 34,458,883
27 263,760 43,636 451325,585,046 124,261,256
71.459.642 24 079 030254,125,404 I 100,182,226
INCOMESuccess feeGrants
Income From ConsultancyIncome From TeachingOther income
43,465,030170,316,522
2,890,8779,664.441
2,339,7506,618,480
96,638,2399,909,0046.557,354
226,336,870 122,062,827
EXPENDITURE
Ad ministrative ExpensesConsultancy fee paidAssets Writtenoff
VI 79,381,719125,844,878
52,698,98459,038,663
165,820
Surplus before DepreciationDepreciation
205,226,59721,110,273
3,354,921
111,903,46710,159,360
1,401,348
Surplus after Depreciation 17,755,352 8,758,012
Preliminary Expenses Written OffIncome before AdjustmentsAdd/(Less): Prior Period adjustments
17,755,352 8,758,012
Surplus before Tax 17,755,352 8,758,012
Provision for Income TaxDeferred Tax
Net Surplus/(Deflcit) after TaxBrought Forward from earlier year
17,755,3521,940,926
8,758,012(6,817,086)
Balance carried to the Balance Sheet
Significant Accounting Polices& Notes to Accounts
19,696,278 1,940,926
VII
The schedules referred to above form an Integral part of the Financial statements
0l1l~Vice President
For and on beha of the Board of Directors
s~~CEO & Director
Schedule IAuthorlsed Share Capital
2,500,000, Equity Shares of Rs.100 each
Issued Subscribed Paid up Share Capital294,115 Equity Shares of Rs.100 each
I
Share Application MoneyTotal
Schedule IIGrants
Grants from UNDP/ICTD ProjectCB Training under NegpEGPXCapacity Building management celiGrants from MicrosoftE-Bharat StudiesGrants from PMU(NeGP)National Service Delivery Gateway-IIImplementing NEGP(Round Tables)SIDA
Total
Schedule IVCurrent Assets, Loans and Advances:
a) Current AssetsSundry Debtors
Outstanding for More than 6 months(Unsecured considered good)
Out standing for Less than 6 months
Cash and Bank BalancesCash In HandBalances with Scheduled Banks
In Savings AccountBalance with State Bank of India delhlBalance with State Bank of India
In Current AccountBalance with ICICI Bank HyderabadBalance with ICICI Bank DeihlBalance with SBI (E-Bharat)
In Fixed Deposit AccountsBank Guarantee DepositFixed Deposit ICICI BankFixed Deposit OBCFixed Deposit SBIFixed Deposit e-bharat
Total of (a)
b) Loans & Advances(Unsecured considered good)Advances/Income recoverable in cashor kind or value to be received
Advance payment against taxes
DepositsExp.on Projects Under Implementation
Total of (b)
Total (a+b
250,000,000
29,411,50021,588,500
51,000,000
13,243,62418,988,00013,550,000
5,574,393(3,751,423)
105,003,36224,053,326
1,000,00010,089,087
187,750,369
250,000,000
29,411,50021,588,500
51,000,000
34,234,553
(2,564,342)
8,029,7951,500,0002,500,0008,989,087
52,689,093
4,731,238 2,245,735
13,270,959 9,777,676
4,093,5505,168,013
25,177,3506,435,691
27,263,760
325,585.046
43,636,451
124.261,256
13,995,171 4,692,214
97,839,225 41,473 708111,834,396 46,165,922
32,003 I 32,003 46 984 46,984
26 349,234 7.516 151
218,827 1,731,37626,130,407 5,784,775
1 366619 (104,252) I96,238 (371,271)
267,018 267,0181,003,362
158,739,035 186,454,887 27 000,000 I 34,411,89917,607,556 15,000,000- -
500,000 500,00036,631,479 11,500,000
104,000,000I
298,321,2861 1 80,624,805
SCHEDULE- VCurrent Liabilities and provisions:
Travel AgentsAdv.From Clients Project ImplementationTravel Adv Amlt ChakravarthySalaries PayableTDS Deducted
499,63712,023,000
13,584
50,3729,456,190
95,576 106,123
Total 71,459,642 24,079,030
SCHEDULE -VIAdministrative Expenses
Salaries & AllowancesPowerCOmmunicationRepairs & MaintenancePrinting & StationaryBooksTravel & ConveyanceAudit & Other FeeMiscellaneous Expenses
44,961,288528,296
2,109,8421,999,4251,224,697
922,52820,110,504
120,0007,405,140
27,016,107550,136
2,244,2842,388,361
432,042882,351
17,851,523110,000
1,224,180
Total 79,381,719 52,698,984
Funds Available for ImplementationI I I 15,213,0691 49,447,6221
I 72,448,140Advance/Grantfrom UNDP 4,550,224UNDPDirect ExpensesBalance of Funds from previous year I I 34,234,553 I I 67,897,916Encashment of BG on e-Gov World Pilot
Total
I 1 1 49,447,6221 1
72,448,140
APPLICATION OF FUNDS
Fixed AssetsGross Block
I II I 240'8441 240'8441
42,795 I 42,795
Current Assets, Loans &. Advances
Pilot Initiatives I III I27,824,5721 27,824,5721
29,149,446 29 149 446
28,065,416 29,192,241
Expenses on seminars / workshopsI IV I
8,138,582 8,138,582 9,021,346 9,021,346Net Current Assets 36,203,998 38,213,587Less: Interest returned to UNDP
Balance available with NISG 13,243,624 34,234,553
Total 49,447,622 72,448,140
Schedule IUNDP / ICTD
Amount Received from UNDPSale of Tender DocumentsAmount received from DIT for TrainingInterest earned on FD
Schedule IIFIXED ASSETS
LaptopDigital CameraDigital Voice RecorderExtemal HDDRoll up standsThermal Binding MachineData CardsHP Laser Jet Plinte~DVD Writer
162,240 18800
Schedule IIIPilot Initiatives
Agrl Business CentersBangalore OneBYlTaju FoundationCentre for Spatial Database M & SolDIT Govt of Himachal PradeshE-KlishlGujarat Informatics LimitedKutch Nav Nirman AbhlyanWest Bengal S R Dev. AgencyCenter for Good Governance (e-Justlce)Development AlternativesIT for Change (Mahiti Manthana)e- Procu rement - GoKUve Stock OrissiaMITRAPhone Pe Rl1SEWAVIDIYALE-Gov World
27,824,572 29,149.446
1,350,000
4,500,0001,460,000
( 1,843,643)1,838,0001,448,900
(78,543)1,110,013
997,3104,880,0002,250,0005,400,000
12,5352,500,0002,000,000
3,000,0004,500,0005,840,0002,800,000
892,410
4,563,0502,509,3661,994,6203,050,000
15,213,069 I I 4.550.22415,000,000
213,069 I 4,550,224
240,844 42,79592,000
(13,396)1 I 23,995
Schedule IVADMINISTRATIVE EXPENSES
Advertisement & PublicityAud it FeeBusiness PromotionBank ChargesBooks
Consultancy Fee + (Service Tax)ConveyanceComputer Consu mablesDocumentation & PrintingData Collection FeeElectricity ChargesEPFcharges to StaffEvent ManagementFilm Making ExpensesFood & AccommodationHonera rlu mHouse RentInsurance ChargesInternet Facility Charges (ASTRO)Infrastructure Maintenance Service(WIPRO)Leave Travel AllowanceLeave EncashmentMedical reimbu~ement
Membe~h ip feeOffice MaintenanceOut Sourcing HRPC RentalsPostage & CourierPrinting & StationaryRecruitment ExpensesRenewals & LincensesSalaries & Allowances
Security ServicesSponso~hipStaff TrainingTelephone ExpensesTravelling ExpensesTravel Reimbu~ement + (OPEs)UNDP Direct ExpensesUp Keep AllowanceUtilities AllowanceVariable PayVehicle Hire Charges
8,138,582 9,021,346
406,000
1,574,58256,08250,777
259,151
8,8761,835,314
52,8153,1583,500
42,925162,862
48,538170,154
1,003,7791,600,000
768,829
69,6744,318
87,378
52,965 53,765
14,27658,941
131,94610,198
3,41618,233
4,432128,813
1,532,66111,800
1,931,31917,821
200,00053,93331,156
405,240732,038
14,409542,096
1,530,378
530,750202,825
663,08074,725
M.V.RAPartnerM.No.28031Place: HyderabadDate : 23rd September, 2009
SOURCES OF FUNDS
Funds Available for Implementation9,000,000 \ 17,989,087\
I 9,000,000Advance/Grant from UNDP I 9,000,000Balance of Funds from previous year 8,989,087
Total 17,989,087 9,000,000
APPLICATION OF FUNDSCurrent Assets, Loans & Advances
Pilot Initiatives I II I 7,900,000 I 7,900,0007,900,000
Expenses on seminars / workshopsI III I
512,017 512,017 10,913 10,913Net Current Assets 8,412,017 10,913
Balance available with NISG 9,577,070 8,989,087
Total 17,989,087 9,000,000
Schedule IUNDP / ICTD
Amount Received from UNDP
Schedule IIPilot Initiatives
Community Radio -leTsINemsMobile GovernanceVastra m
Schedule IIIADMINISTRATIVE EXPENSES
Consultancy Fee + (Service Tax)ConveyanceFood &AccommodationSalaries &AllowancesTravelling ExpensesTravel Reimbursement + (OPEs)Vehicle Hire Charges
9,000,000 OOO.OOO
9,000,000 9,000,000
7,900,0002,700,0001,000,0002,500,0001,700,000
1 512,0171 1 10,913250,000
9931 I
415400 400
176,374
12,944 I I 10,09861,778
9,528
M.V. RANP~rtnerM.No.28031Place: HyderabadDate: 23rd September, 2009
tA1fl ;'a"d~~OfDI~~K.SANJAYM~ SHANKARAGGARWAL150MMtTTAL
Vice President CEO&.Director
Funds Available for ImplementationAdvance/Grant from DIT/ Including InlErest 60,206,337 47,746,135Opening Balance of Fund as on 1-4-2008 8,029,795 2,801,419
Total 68,236,132I
50,547,554
APPLICATION OF FUNDS
Fixed AssetsGross Block
I I I 1,000,60 I 1,000,260 I 77,50 I
Less : advnce to STPI adjusted 77,850
Current Assets, Loans & Advances
Current Liabilities Settled
I I I 01 3,795,439 I
3,795,439Deposit (Rent) 90,000Advance (Imprest)Expenses on Programme Management II
Other Operational Expenses 18,557,239 19,617,172Salaries &.Allowances 23,494,285 18,950,670Advertisement &.Recruitment 1,126,400 43,177,924 - 38,567,842
Total current assets 43,177,924 42,453,281
Current LiabilitiesImprest Settled I I (4,623) I (4,623)1 13,372 1 13,372Software Technology Park
Net Current Assets 43,182,546 42,439,909
Balance available with NISG 24,053,326 8,029,795
Total 68,236,132 50,547,554
Schedule IFixed assets
Air ConditioningData CardsDesk TopsElectrical Wo~ & FittingsFurniture & FixturesLaptopsMobileTelephoneMultipleCDWriterMusicSystemNetworking SystemNSA StoragePen DrivesPrintersProjectorRefrigeratorServersSoftwareTelephone at Cost PMUTelephone SystemUPSWater DispenserWindows XP
1,000,260 77,850
187,750 52,850
746,884
48,25017,376
25,000
Schedule IIExpenses on Programme Management
Advertisement & PublicityAnnual Maintenance ContractBank ChargesBooksBusiness PromotionComputer ConsumablesConsultancy Fee + Service taxConveyance ExpensesCultural ProgramDocumentation & PrintingEPF ExpensesFood &AccommodationHonerarlumInfrastructure MaintenanceInsurance ChargesInternet FacilityChargesLeave EncashmentLeave Salary ExpensesLeave Travel AllowanceMedical ReimbursementNews Papers & PeriodicalsOffice MaintenanceOut Sourt:lng HRPension Conbibutlon ExpPostage & CourierPrinting &StationaryRecruitment ExpensesRelocation ChargesRentSalaries &AllowancesSponsorshipStaff TrainingTelephoneTravelling ExpensesTravel ReimbursementVariable PayVehicle Hire Charaes
43,177,924 I I 38,567,8421,126,400
245,520 54,0002,140 6,3054,972 2,500- -
226,380 65,3747,362,731 11,851,101
195,897 64,237-67,735 199,544
1,304,524 1,117,775640,928 527,420
70,000 52,00036,000
67,591 I I
48,865154,088 153,541703,397154,483220,272 66,963102,581 917,185
12,772 1,034292,130 373,111
1,311,948 889,960274,184
47,431 I I
10,384634,809 216,711306,676 111,949
81,210
1,424,579 I I
1,041,69918,452,750 13,917,452
30,00075,272 38,681
504,408 370,1942,056,775 977,960
29,290 32,7632,309,403 3,809,7992,684,650 1,613.335
SOURCES OF FUNDS
Funds Available for ImplementationGrant ReceivedOpening Balance of Fund as on 1-4-2008Receivable from microsoft
(2,564,342)3549736
16,395,379
Total 985,394 16.395.379
APPLICATION OF FUNDS
Fixed AssetsGross Block 3,020,080 3,020,080
Current Assets, Loans & Advances
EGIL Project AdvanceExpenses on Programme Management
IIIII
350,0004,386,817
6,204,0009,735,641
Net Current Assets 4,736,817 15,939,641
Balance available with NISG (3,751,423) (2,564,342)
Total 985.394 16,395,379
For and on behalf oKthe Board of Directors
M.V.RAPartnerM.No. 28031Place: HyderabadDate: 23rd September, 2009
0k~Vice President
~~SHAN KAR' AGGARWAL
CEO & Director
Schedule IFixed assets
Air ConditioningData CardsChairsFanFurniture Fittings & CeilingPrinterWireless Access PointLaptops
3,020,080
316,63110,249
2,082,50022,39014,750
573,560
chedule IIEGIL PROJECT ADVANCE
lIT KanpurAutomatic File Tracking in e-Gov
lIT New DeihlBuilding a CMM Like ModelBusiness Process Re-Engineering in e-GovManaging Secured DocumentsOpportunistic Comm & Athentication FramService Oriented ArchictureEGIL Lab Fund
350,000 6,204,000
350,000
840,000
720,000720,000
1,104,0001,500,000
720,000600,000
Schedule III
Expenses on Programme Ma nagementAdvertisement & PublicityBooksComputer ConsumablesConsultancy Fee + Service TaxConveyance ExpensesEPF ExpensesFood & Accommodation
Insurance ChargesInternet Facility ChargesLeave EncashmentLeave Travel AllowanceNews Papers & PeriodicalsOffice Maintenance
Out Sourcing HRPostage & CourierPrinting & StationaryRecruitment ExpensesRelocation ChargesSalaries & AllowancesTelephoneTravelling ExpensesTravel Reimbursement
Variable PayVehicle Hire ChargesNISG Manaaement Fee
4,386,817 9,735,641
31,4401,336,810
28,436245,071
29,15711,89116,16768,864
2,87018,250
3,692,03531,807
168,149112,288
11,40010,981
2,60071,556
111,7882,691
18,49019,133
49,4501,951
76,3407,7005,128
23,35611,224
1,670,22342,13933,938
351,627294,796
1,758,15058,276
269,487
134,786370,653
2.921.360
NATIONAL INSTITUTE FOR SMART GOVERNMENTSCHEDULES FORMING PART OF THE ACCOUNTS
SCHEDULE - III FIXEDASSETS
Total8,648,598
15-446,1299,983,098
17,674,5006,483,874
9,998,3361,334,500
2,228,371
Previous vear 1,479.625 8,431,168412,296 15,033,83313 ,~6_6, 504
For M. Anandam & CO'1Chartered Accountants
~A::T::K~4p~~~F~~ ,-M.No. 28031Place: HyderabadDate: 23rd September, 2009
~~K.S~ MURTHY'1Vice President
2,170,6113,354,921
8,654,48513,353,258
2,164,7245-447,793
1,328,6134,321,242
9,586,040 5,447,793 5,535,336
NATIONAL INSTIT1JTE FOR SMART GOVERNMENTSCHEDULE -VII
SIGNIFICANT ACCOUNTING POLICIES AND NOTES TO ACCOUNTS
A. SIGNIFICANT ACCOUNTING POLICIES:
Basis of PreDarationThe Financial Statement of the company are prepared under historical cost convention on accrualbasis of accounting, and in accordance with mandatory accounting standarn Issued by Institute ofChllrtered Accounts of Indlll, /lnd refen-ed to in Sec.211(3C) of the Compllnles Act, 1956 IIndgenerally accepted aocountlng principles In India. The accounting policies are conslstantlyapplied by the company during the year. The significant accounting policies are as follows:
1. Axed Assets: Fixed Assets lire stilted at cost IInd Includes frelght,dutles,taxes &.other Incldentlllexpenses related to acquisition &.Installation, Ifany.
2. Deprecilltion: Deprecilition on fixed IISsetS Is provided on written down vlllue method on /IIIin lIocordlincewith Schedule XIVof the Companies Act.1956. The cost of Leasehold Improvements Is being amortizedover the period of lease.
3. Revenue Recognition: Revenue of ellch project Is recognlsed on Milestone completion b/lslsalong with Matching expenditure,
4. Foreign CUrrency tr/InSllctlons during the ye/lr lire recorded at the rates of exchange prevlliling on thedate of the transaction and difference between spot rate at the date of contract and the exchange rateprevailing on the Balance Sheet date Is recognlsed. Allexchange differences are dealt with In the statementof profit and loss, except those relating to the acquisition of fixed asets from outside India, which are/ldjusted In the cost of the IISSetS. Foreign currency mllndlltory Items lire reported using the closing rlIte.
5. Projects under Implementation: In case of projects where milestone completion could not be calculatedthe relevlInt receipts and plIyments were grouped under Advance from Clients for Project ImplementationIInd Expenditure on projects under Implementlltlon respectively.
6. Employee benefits: Lellve encllshement Is provided on the bllsis of IIctulillellve unllvlIiled IInd Gratutity is notdone liS per IIcturilil vlliulition.
B. NOTES TO ACCOUNTS
1. In the opinion of the Board of Directors, the current assets and loans and advances are approximatelyof the same vlllue stated, if realised in the ordinary course of business and lire considered good.
2. Contingent LiabilitiesBank Guarantees
31.03.200919,726,052
31.03.200816,103,634
3. The Debtors, Creditors, loans and advances balances are subject to conflrmlltlon.
4. Interest on deposits made out of UNDPfunds Is IIccounted for on cllsh basis
S. Tax expenses both current tax and deffered tax are not recognised as the Income of compllny is expemptedU/s 12A of the Income Tax Act, 1961.
6. Additional Information pursuant tD part II of Schedule VI of the Companies, Act 1956 tD the extentapplicable.
b. Expenditure In foreign currency: 901,530 58,619c. Earning In foreign currency: 2,659,423d. During the year, the Company did not import any capital goods, raw materials, stores or
components.
7. The Company is engaged In E-govemance projects. The production and sale of such thingscannot be expressed In units. Hence, It Is not possible to give the quantitative details of sales,production and the Information required under paragraph 3&.4of the part II of Schedule VI ofthe Company Act, 1956 is not /lpplic/lble.
8. Following are the projects under Implementation as on 31-03-2009 on which following incomes/lnd expenses /Ire not recognlsed In Income &.Expenditure account but grouped in bahmce sheetunder Adv/lnce from Clients (Projects) /lnd ongoing project expenses
8. The Company has been granted licence under section 25 of the Comp/lnies /lct, 1956.The Comp/lny Isregistered as Company with limited liability, without the addition to Its name of the word "Limited" or thewords "Private Limited".
9. Schedule "I" tD "VII" form an Integral part of accounts and have been authenticated.
a. Auditors' Remuneration 31.03.2009 31.03.2008Rs. Rs.
Audit Fee 120,000 110,000Out of pocket expenses -Total 120,000 110,000
Project Name Income Expenditure
CCA Web infr/lstructure 400000 0CFMS AP 9643000 0DIPP Website 500000 75245E-He/llth AsS/lm 1320000 0Goa Port Trust 160000 0Goa EDS 0 45000Goa Portal 0 42593JNNURM 0 160465
Ping 0 1109925Postal BPM 0 77909E-Gov World Loglsltics 0 2081204
CB Training under Negp 0 6413EGPX 0 1057693Capacity Building management cell 0ICTD SIDA 0 511567
Total 12023000 5168014