AFS Report 2022-2023
Annual Financial Statement (AFS)
The AFS report contains a comprehensive account of the receipts, expenditures, assets, and liabilities of the Local Self-Government Institution for a financial year.
Key Components:
Receipt & Payment Account: This records the cash received (receipts) and cash spent (expenditures) by the institution during the year.
Income & Expenditure Account: Details regarding the income and expenditure for a financial year. This helps in understanding the financial outcome (surplus or deficit) of the institution's operations.
Balance Sheet: A statement detailing the institution's assets and liabilities as of the last day of the financial year.
