The Hindu : Andhra Pradesh News : Standing committee endorses surplus budget for civic body

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Wednesday, Mar 12, 2008
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Andhra Pradesh

Andhra Pradesh

Standing committee endorses surplus budget for civic body

Staff Reporter

Kakinada: The Standing Committee of Kakinada Municipal Corporation (KMC) has endorsed a surplus budget of Rs. 2.23 crores for the financial year 2008-09, to be ratified by the council members.

Income was estimated at Rs. 76.28 crores, including an opening balance of Rs. 6.78 crores, whereas the expenditure was put at Rs. 74.06 crores.

At its meeting held on Tuesday, Mayor K. Saroja and Standing Committee members – K. Ramesh, M. Gangadhara Rao and Chandramouli – discussed the 2008-09 budget and the revised budget for 2007-08 and sent them for the council’s approval. The major components of the total income are: property tax Rs. 16.67 crores, government grants Rs. 9.19 crores, deposits and advances Rs. 8.51 crores, education grants-secondary Rs. 7.35 crores and elementary Rs. 5.78 crores and non-plan grants Rs. 5.28 crores. Items on the expenditure front are: capital account Rs. 23.5 crores, staff salaries and allowances Rs. 13.44 crores.

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