The Budget estimate for the year 2016-17 has been prepared with reference to the anticipated revenue and the anticipated expenditure after having consulted with the heads of all sections and also with the Commissioner, the budgeted physical position of the Cuddalore Municipality is furnished below:
The overall deficit in the Revised Budget for the 2015-16 Rs 31.59 and deficit for the financial year 2016-17 is Rs.803 (In terms of lakhs).
|Description||2018-19 (Revised Estimate)||2018-19 (Budget Estimate)|
The reason for deficit in the budget for the year 2015-16 was due to the pending bills for works completed and necessary provisions for work in progress and also the payment of the bills for various scheme works that are going in the urban local body. The analysis of the financial positions brings out the causes for the huge deficit. Which is mainly due to the operations of the previous accounting year. All the outstanding amounts due to the last year is fully provided in the revised budget for the year 2015-16.
The Current budget is arrived at after taking in to account the additional measures taken for augmenting the financial position by revamping the tax administration and also proper revenue management by increasing the lease rent for the properties assessing the vacant sites for Tax and also by bringing the unauthorized constructions under the levy of Building license and development charges etc., within the provision of law.
The budget is aimed at sustained growth & welfare of the citizens. Adequate provisions are given for Capital and Revenue Expenditure which is made up to bring up next year Revenue value between Social Management and Economical Management of the city. The budget also aimed it is sustained improvement in the resource of the urban local body by bringing innovative method of augmenting urban local body resources by concentrating on unexploited potential and also by implementing the taxation parameter simpler to people in a friendly manner. It has been kept in mind when these steps are taken toward mobilization of resources the citizens also take the exercise in right print and participate in the endeavours of the civic body. In this regard a mechanism is to be created for revamping the mindset of the people with specific focus on their responsibility