Pankaj S. Zawar & Co.Shop No. 3, Plot No 184, Verma

Complex, Chalis Bhigq

Malkapur-443 I 01 .CHARTERED ACCOUNTANTS

Financial Statements Of

Lok Sewa Shikshan Bahhuddheshiva Mandal's.

Padmashri Dr. V.B.Kolte ColleFe of EnFineering,

Ma lka pu r

For the financial vear

2017-18

< Polytechnic>

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Pankaj S. Zawar & Co.CHARTEREDACCOUNTANTS

Place:-Malkapur

Date:- 28/0612018

ShopNo.3,PlotNo lM,Venna Comple>q ClulisBhiga

Mallopnaa310l

'We have audited the attached Ba.lance Sheet of LokSewa Shikshan Bahhuddheshiya Mandal's, PadmashriDr. V.B.Kolte College of Engineering, Malkapur as at 31st Mmch 2018 and also the Income & Expenditure Accountof the LokSewa Shikshan Bahhuddheshiya Mandal's, Padmashri Dr. V.B.Kolte College of Engineering, Malkapurfor the year ended on that date annexed there to. 'lhese Financial Statements are the responsibility of theManagements. Our responsibility is to express an opinion on these financial statements based on our audit.

'We conducted our audit in accordance with auditing standards generally accepted in India. Those Standardsrequired that we plan and perform the audit to obtain reasonable assurance about whether the financial statements erefree of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts arddisclosures in the financial statements. An audit also includes assessing the accounting principles used and significantestimates made by managements, as well as evaluating the overall financial statement presentation. We believe thatour audit provides a reasonable basis for our opinion.

L. 'We have obtained all the information and explanations which to the best of our knowledge & belief werenecessary for the purpose ofour audit;

2. 'The Balance Sheet and the Income & Expenditure Account dealt with by this report are in agreement withthe books of account.

3. 'In our opinion and to the best of our information and according to the explanations given to us, the said'Balance Sheet & the lncome & Expenditure Account together with the schedules attached read with'Accounting Policies and Notes thereon; give a true and fair view :

i. In the case of Balance Sheet, of the state of affairs of the College as at March 3lst, 2018, andii' In the case of Income & Expenditwe Account, of the Deflcit for the year ended on that date.

For PANI(AJ S. ZAWAR & CO..Chartered Accountants

Pankaj S. Zawar

Proprietor

M.No.109467

F'.R. No. 120891W

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4|,,4|-PARTICULARS AMOUNT

ITRUST FUND / CORPUS FUND

DEVETOPMENT FUND

BAL AS PER LAST BALANCE SHEET

ADD: TRANSFER DURING THE YEAR

DEPRECIATION FUND

BAL AS PER LAST BALANCE SHEET

ADD: TRANSFER DURING THE YEAR

46,96,296.27

6,39,377.50 53,35,663.77

2L,4t,69L.00

15,85,919.00

5,55,772.00

74,77,354.77

TOKSEVA SHIKSHAN BAHUDESHlYA MANDAL'SPADMSHRI DR. V B KOTTE COttEGE OF POLYTECHNIC

SCHEDULE "A" FUNDS FOR THE pERtOD OL.O4.2OL7 to 31.03.18

SCHEDULE "8" LOANS,ADVANCES & DEpostrs FoR THE pERloD o1.o4"2o17 to 31.03.18

SCHEDUTE ',D'' CASH AND BANK BAtANcEs FoR THE PERIOD o1-.o4.2o1.7 to 31.03.18

PARTICULARS DEBIT CREDITI orposrrs FRoM sTUDENTSI

IcREDtTORS FOR ASSETSI

IcRED|TORS FOR EXPENSES

ITDS PAYABLE

ISALARY & SryPEND PAYABLE

IBANK OF MAHARASHTRA

ISCHOLARSHIP PAYABLE

OTHER PROVISIONS

EXAM REMUNARATION PAYABLEADVANCE FEES RECEIVED

STUDENTS FEES RECEIVABLE

DEPOSITS TO OTHERS

TDS RECEIVED

BRANCH / DIVISION

ro,ooo.oo

r,ozs.oo

L,31,931.00

3,52,22,O53.O0

23,455.00

4,56,00,556.00

86,96,000.00

8,27,237.00

9t,o4,Lg7.OO

2,5!,793.O0

11,61,L90.00

6.0032,16,45s.50

28,84,030.99

t,5"7,29,292.00

TOTAT RS. 8,09,94,923.00 4,L9,7O,197.39

PARTICULARS BAL.AS ON 01.04.17 BAL.AS ON 31.03.18CASH ON HAND

BANK ACCOUNTS. CURRENT

FIXED DEPOSITS WITH BANK

29,145^O0

2,42,226.5611,909.00

4,34,296.3!

TOTAT RS. 2,7L,37L.56 4,46,204.3t

ffi*1a.""ri,-riit/i

SCHEDULE "E" MAINTENANCE ACCOUNT FOR THE PERIOD 01.04.17 TO 31.03.18

PARTICULARS AMOUNTS

TUTION FEES

OTHER FEES

INTREST RECEIVED FROM BANK

MISC INCOME

t,2s,21,ozs.008,36,2O3.07

3,715.00

3,98,156.02

TOTAT RS. 1.37.s9.099.09

SCHEDUTE ''F" DEVELOPMENT ACCOUNT FOR THE PERIOD 01.04.16 TO 31.03.18

PARTICUTARS AMOUNTS

DEVELOPMENT FEES

DONATIONS

CORPUS FUND

L2,78,755._O0

TOTAT RS. L2,78,755.O0

1,50,37,854.09

SCHEDUTE "G'' SATARIES FOR THE PERIOD OL.O4.L7 TO 31.03.18

PARTICULARS AMOUNTS

STAFF SALARY AND REMUNERATIONS

SECURITY EXP

OTHER STAFF EXP.

STAFF MEDICAL EXP

STAFF TRANING EXP.

1,60,73,760.00

TOTAL RS. L,6O,73,760.0O

SCHEDULE "H" COLLEGE DIRECT EXPENSES FOR THE PERIOD OL,O4.L7 TO 31.03.18

PARTICUTARS AMOUNTS

REMUNERATION / PROFESSIONAL CHARGES TO VISITINGFACULTIES

AFFILIATION FEE

EXAM FEE PAID TO UNIVERSIW

ENROLLMENT FEE

STUDENT INSURANCE

BUILDING & DEADSTOCK INSURANCESCHOLARSHIP PAID TO STUDENTS UNDER SOCIAL

WELFARE SCHEME OFFICE

MAINTENANCE - COLLEGE BUILDING

FURNITURE, EQUIPMENTS, COMPUTERS ETC

MAINTENANCE

MAINTENANCE - OTHERS

ADVERTISEMENT FOR RECRUITMENT OF STAFF FOR THE

coLLEGE (COST OF 3 ADVERTTSEMENTS EACH rN 2

NEWSPAPERS IN A YEAR)

ADVERTTSEMENT FOR ADMTSSTONS (COST OF 3

ADVERTISEMENTS EACH IN 2 NEWSPAPERS IN A YEAR)

ADVERTISEMENT - GENERAL

STUDENT SPORTS ACTIVITIES & GYMKHANA EXPENSES

OTHER STUDENT WELFARE

BANK INTEREST / CHARGESCONFERENCES SEMINAR - STUDENT

NBA / NACC EXPSCONSULTANCY FEES - OTHERS

INTERNET CHARGES

TELEPHONE, FAX CHARGES

PROSPECTUS PRINTING

EXAM PAPERS AND FORM PRINTING

OTHER STATIONARY

ELECTRICITY

MUNICIPAL & LOCAL TAXCLEANING

GARDENlNG

FRA/PNS Fee

EXPENSES RELATED TO STUDENTS

EXPENSES RELATED TO TRUST AND OTHERS

MAGAZIN E, JOU RNALS, PERIODICALS ETC SU BSCRI PTION

85,497.OO

1,60,000.00

8,36,383.00

2s,s20.00

45,566.00

3,55,506.00

2,560.00

\,20,274.00

1,40,2t5.00

L,93,L70.00

1,432.O0

s,go,ooo.oo

22,000.00

36,850,00

19,034.00

2,50,834.00

4,48,700.00

3,10,510.00

6,894.00

34,319.00

2,31,594.40

5,67,O23.94

57,855.00

L3,550.00

TOTAL RS. 45,55,227.34

SCHEDUTE ''I"

SCHEDULE ''J" NON RECURING RECEIPTS AND PAYMENTS

45,95,734.34

FOR THE pERtoD O7.O4.17 TO 31.03.18

COLLEGE ADMINISTRATIVE EXPENSES

CONVEYANCE, TRAVELLING, ETC. TO MEMBERSPOSTAGE CHARGES

30,000.00

507.00

PARTICUTARSDEPOSITS FIOMTruDENTS

TDS PAYABLE

SALARY & SryPEND PAYABLEBANK OF MAHARASHTRASCHOLARSHIP PAYABLEOTHER PROVISIONS

STUDENTS FEES RECEIVABLEBRANCH DIVISION

DEPOSITS WITH BANK

5,47,907.00L,54,59,095.00

4,31,ggg.oo

9,56,4L6.0032,16,455.50

72,54,276.00

2,40,17,965.00

5,47,976.00L,93,91.,012.00

,,rr,ora.oo4L,5A,4L3.50

L,36,92,922.0o

82,25,218.oo

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b)

3)

LOKSEVA SHIKSHAN BAHL]UDESHIYA MANDAL'S,PADMASHREE DR.V B KOLTE COI,LEGE OF ENGINEERING AND POLYTECHNIC, MUKTAINAGAR ROAD. MALKAPUR

DIST. BULDANA443IOISCHEDULE ''K', : SIGNIFICANT ACCOLTNTING POLICIES AND NoTES oN ACCOLTNTS

FOR THE YEAR 20I7.2018

SIGNIFICANT ACCOLINTING POLICIES

METHOD OF ACCOLTNTING :

The accounts are prepared in accordance with accounting principles generally accepted in India.The College is maintaining its accounts on the basis of mercantile system of accounting generally.BASIS OP PREPARATION OF FINANCIAL STATEMENTS :The financial statements hdve been prepared under the historical cost convention and in accordance withgenerally accepted accounting principles.

Accounting policies not specifically referred to otherwise, are consistent and in accordance with generallyaccepted accounting principles.

REVENI.IE RECOGNITION :

Tuition Fees, misc. receipts, bank interest etc. are accounted for on accrual basis.4) FTXED ASSETS:

Fired assets are stated at cost ofacquisition and depreciation fund is created to the extent ofdepreciation onassets. None ofthe fixed assets have been revalued during the year under review.

5r DEPRECIA tlON :Depreciation on Fixed Assets is calculated on written down value method as per rates specified in theIncome Tar Act 196 1.

6) CURRE\r ASSETS, I,OANS & ADVANCES.In the opLnion ollhe management. the value ofall current assets. advances and deposits, cash and bankbalances and outstanding income, and other realizable assets are not less than their realizable value in theordinan course of business.

i) BORRO\\ NG COSTS :Borrori irs costs have been treated as expenses during the period in which they have been incurred.

B. \OTES ON ACCOT]NTS: -1) Baiances ofSundry Debtors, Sundry creditors, Loans and advances, Deposits have been accepted as

maintained by management without third party confirmations and are subject to reconciliations.2) Fixed assets have not been revalued during the year.3 ) Depreciation frrnd is not invested in Govt. Securities.1) Bank Statements are subject to reconciliation5) Att the lluilding Fund is accepted in cash.6) Some of Fixed Assets acquisition, as well as expenses incurred and corpus Fund received have been

done in cash and are supported by office made vouchers only.7) Provisions of Tax Deduction at Source (TDS) are not followed in case of Advertisement and some other

expenses' For pANKA.r S. ZAWAR & CO.

Chartered Accountants

PLACE:-MAI,KAPUR

-*,

frrrltr i,ural., ,.$)

Pankaj S. Zawar

Proprietor

M.No.109467

r.n uo 120891W

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