Annual Financial Statement 2024-25
AFS
This is an official document that records the accurate accounts of an institution’s income, expenditure, assets, and liabilities for a financial year (from April 1, 2024 to March 31, 2025). It plays an important role in ensuring the financial transparency and accountability of an institution.
Main Components of the AFS
Income and Expenditure Statement : This statement shows the total income received by the institution during the year (such as taxes, fees, and grants) as well as the total expenditure incurred (such as salaries, project expenses, and maintenance costs).
Balance Sheet : This shows the assets (buildings, land, bank deposits) and liabilities (loans, amounts payable) of the institution as on a specific date.
Receipts and Payments Account : This records all cash receipts and cash payments made throughout the year.