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ESTIMATES

ESTIMATES. SANJAY UPRETI PAM. PREPARED FOR. Construction or purchase of new works or assets. renewal or replacement of asset chargeable to any of the funds if costing more there Rs. 10,000/- or if chargeable to Revenue and costing more than Rs. 50.000/- Temporary and experimental works.

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ESTIMATES

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  1. ESTIMATES SANJAY UPRETI PAM

  2. PREPARED FOR • Construction or purchase of new works or assets. • renewal or replacement of asset chargeable to any of the funds if costing more there Rs. 10,000/- or if chargeable to Revenue and costing more than Rs. 50.000/- • Temporary and experimental works. • Renewals of ballast. • Scrapping of existing works or asset.

  3. PURPOSE • To submit the proposals on the type of works mentioned in the previous slide for the sanction of CA.

  4. TYPES OF ESTIMATES • Abstract • Detailed • Supplementary • Revised. • Project Abstract. • Construction • Completion.

  5. Abstract Estimates • Enable the competent authority to give Admin. approval. • to get reasonably fair idea of the cost. • brief report, justification, specifications and funds requirement. • They avoid expense and delay of preparing detailed estimates when the work is still not decided. • Should show the cost subdivided between various heads.

  6. Detailed Estimates • Detailed than Abstract Estimate. • For technical Sanction • For works other than which require construction estimate to be prepared. • No work can be started prior to sanction of detailed estimate and allotment of funds. • If consists of • outer sheet-giving summary • detail sheet. • report. • Financial justification • allocation.

  7. SUPPLEMENTARY ESTIMATES • To be prepared for any item of work in which should have been included in the first instance. • To be treated as a part of the original estimate.

  8. REVISED ESTIMATES • To be prepared when the project cost is likely to increase over the estimated cost. • To be prepared in same degree of detail. • Comparative statement between original and revised estimate to be prepared showing excess and saving under each item. • To be prepared when excess due to price escalation is up to 50% and due to other reasons up to 10%

  9. COMPLETION ESTIMATE • Prepared in tabular format giving the following details. • Amount of sanction estimate • Actual expenditure up to the sanction of construction estimate. • Commitments on date • Anticipated further outlay. • Total estimated cost. • Difference between the two • Explanations for excess or savings.

  10. COMPLETION REPORT • Prepared by Executive- to be vetted by accounts. • In order to compare actual cost of work with the last sanctioned estimate • To be sanction by authority who had sanction the last estimate.

  11. VERIFICATION OF ESTIMATE • In order to control expenditure. • Avoids irregular sanction to expenditure. • Propriety of the expenditure • Incidence of expenditure. • Availability of budget. • verification of errors and omissions. • competency of sanction.

  12. CURRENCY OF SANCTION • Currency begins from the date of sanction of the estimate. • If work has not started within two year then sanction elapses. An updated estimate should be prepared and sanction obtained. • Currency of the estimate is for 5 years if works has commenced. After that fresh sanction is needed.

  13. SCOPE OF SANCTION • Sanction is precise and only for the stated object of the work. • Savings cannot be utilized for any other work or inclusion of any other item not contemplated earlier.

  14. GROUPING OF WORKS • If two or more works are connected either by their situation or purpose so that the construction of one involves the construction of the other then all the works should be group together to determine the CA for sanction of expenditure.

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