APPROPRIATION ACCOUNT
This term is use in Rail budget.
After the closure of accounts for the financial year, report is submitted to the Parliament as to how far the budget estimates have been realized i.e. as to how the funds voted by the Parliament and Appropriations sanctioned by the President have been utilized. Three sets of figures are reported namely, Original Grant, Final Grant and Actual Expenditure. Comparison between latter two is made and Variations are worked out duly explaining the same.
The Appropriation Accounts along-with Railway’s Audit report thereon are presented to the Parliament through Public Account Committee, which is a committee nominated by the Parliament. On passing / acceptance of the Accounts by the parliament, the excess over sanctioned appropriations is regularized and thus cycle of Parliamentary control over Railway’s Finance is ensured.
