AUDITED STATEMENT OF ACCOUNTS & AUDIT REPORT OF THE HAPPY NOOK
CO-OPERATIVE HOUSING SOCIETY LTD FOR THE YEAR 2011-12
INTRODUCTORY STATEMENT
01. Name of the Society
: Happy Nook Co-operative Housing Society Ltd
02. Address of the Society
: E.K.T.P, Phase-IV, Type-A,
Kolkata-700 107
03. Registration No. & date
: 12 / CMAH of 1995 dated 16.11.1995
04. Status of the Society
: Primary Housing Society
05. Total No. of Members as on 31.03.2012 : 175 (one hundred seventy
five)
06. Existing no.of Flats
: 176 (one hundred seventy six)
07. Total no.of flats allotted
: 175 (one hundred seventy five)
08. Total no.of flats transferred during the year : 05 (Five)
09. Total no.of flats proposed to be transferred : 05 (Five)
10. Date of last Annual General Meeting : 10.06.2012
11. Date of last Half-Yearly General Meeting : 23.10.2011
12. No.of Board of Directors Meeting upto 31.03.2012: 10 (Ten)
13. Paid up Share Capital : Rs.35,000.00
14. Audit Fee outstanding : Rs. 5,250.00
15. Income over Expenditure : Rs. 7,380.46
16. Name of the Present Board of Directors:
Name Designation Elected on
i) Mr.Benudhar Munshi -Chairman- 13.12.2009 (SGM)
ii) Dr.Apurba Nandy -Vice Chairman- -do-
iii) Dr.R.K.Dutta -Panel of Chairman- -do-
iv) Mrs.Shikha Bhadra -Panel of Chairman- -do-
v) Mr.Biswatosh Sarkar -Secretary- -do-
vi) Mrs.Uma Banerjee -Treasurer- -do-
vii) Mrs.Jharna Ganguly -Director- -do-
viii) Mrs.Mita Banerjee -Director- -do-
ix) Mr.Debashsis Das -Director- -do-
x) Mr.Siddhartha Roychowdhury -Director- -do-
18. Name of the last &
present
Audit Officer : Mrs. S.Pal, Auditor of
Co-operative Societies,
H.Q, 24 Parganas(S), Alipore
19. Place & date of completion of the
year of Audit : Locally on 4th
September, 2012
Benudhar Munshi
Biswatosh Sarkar
Uma Banerjee
Audit Officer
Chairman Secretary Treasurer
Statutory Audit Report of Happy Nook Co-operative
Housing Society Ltd for the year 2011-2012
Being authorised by the Director of
Co-operative Audit, West Bengal vide his Order No.873 / 1(2) DA dated
30.04.2012, I have conducted and completed the Statutory Audit of the above
named Society for the year 2011-12 with reference to the books and records,
statement of accounts and the other documents so available at the time of audit
and made the following observations and suggestions in addition to my separate
report at the foot of the Balance Sheet as at 31st March, 2012.
Before taking up the Statutory
Audit of the Society for the above noted period, Notice was issued to the
members and non-members through the Secretary of the Society to verify the
individual debit / credit balance as the case may be on 31.03.2012. But none
turned up in respect of any discrepancy from any side about individual balance
as appeared in the books of accounts and the statement of accounts as on
31.03.2012. Hence, the accounts as submitted by the Society has been taken as
final for audit. The Society submitted Income & Expenditure Account instead
of Profit & Loss Account-so, the audit has been completed on the basis of
the Income & Expenditure Account.
Prelude: This is a
primary Co-operative Housing Society registered in the year 1995 bearing
Registration No.12 / CMAH of 1995 dated 16.11.1995 under the name and style of
Happy Nook Co-operative Housing Society Ltd with limited liabilities under the
administrative control of Joint Registrar of Co-operative Societies, Kolkata
Metropolitan Area Housing with a view to attain the main objects to establish
on co-operative basis settlement of housing accommodation and civic facilities
for members and ultimately to develop self sufficiency as far as practicable.
Management & Meeting:
The Society is vested upon a Board consisting of 10 (ten) Directors,
elected in the Special General Meeting held on 13.12.2009, whose names have
appeared in the Introductory Statement which is one of the parts of the report.
Half Yearly General Meeting & last Annual General Meeting had been held on
23.10.2011 & 10.06.2012 respectively. 10 (Ten) nos. Board of Directors
Meeting were held during the period of audit.
Members: Total
number of members of this Society is 175 (one hundred seventy five) as on date.
It appears that the West Bengal Housing Board constructed the housing complex
at Kasba Area under E.K.T.P Phase-IV Scheme consisting of total 176 developed
units (flats) therein and distributed 175 flats amongst the allottees. Such
allottees necessarily have to become the member of the Society.
Bye-Laws & Registration Certificate: Examined the original copy of Bye-Laws and
Registration Certificate and the same have been kept properly.
Share Capital: The
authorised Share Capital of the Society is Rs.2, 00,000.00 and Paid up Share
Capital is Rs.35, 000.00 which agrees with the detailed list certified by the
Management.
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Security Deposit from Members (Refundable) for Rs.43,75,000.00: Last year balance under this head
was Rs.43,75,000.00 .The balance is unchanged as on 31.03.2012. Detailed list
in this respect has been furnished by the Society, which is agreeable with the
accounts.
Transfer of flats: During the year under audit 05 (Five) number
of flats / memberships were transferred as reported by the Management. It
appears that the members have let out 17 (Seventeen) nos. of flats and the
Society has kept a Register in this respect.
Position of the Society: During the year of audit the Society has
earned excess income over Expenditure to the tune of Rs.7,380.46 that has been
transferred to the Balance Sheet. Accordingly net surplus stood at
Rs.1,78,023.74 as on 31.03.2012.
Audit Fee: Audit Fee has been assessed as per the Rule
156 of the WBCS Rules, 2011. Accordingly Rs.5, 250.00 has been assessed as
audit fee as on 31.03.2012 & this should be deposited without further
delay.
Cash in hand Rs.625.50: Cash balance of Rs.625.50 was the Closing
Cash balance or Cash in hand as on 31.03.2012. That balance has been confirmed
by the certificate given by the Management. During the course of audit
physically verified the closing cash balance as per Cash Book as on 21.08.2012
of Rs.5,563.00 (Rupees five thousand five hundred and sixth three only) and
found in order.
Cash at Bank Rs.2,24,526.47: The savings bank balances of the Society as
on 31.03.2012 with the Indian Overseas Bank, Kasba Gold Park Branch was
verified with Bank Pass Book and found a difference which was reconciled by
Bank Reconciliation Statement.
Investment of Rs.73,00,000.00: The
Society has invested as Fixed Deposit Rs.73,00,000.00 with Indian Overseas
Bank, Kasba Gold Park Branch, Kolkata-700 107 (with fresh investment of
Rs.8,25,000.00 during 2011-2012) which were physically verified and list of
investments are enclosed with the Balance Sheet for records.
No further
advance has been made under CRES Scheme at CESC Ltd. This is adjustable with
the bills of CESC Ltd of subsequent period. This balance also generates
interest
@ 6 %.
Again it must be
noted here that during the year Society has earned Rs.5,92,440.00 as interest
on Fixed Deposit and Rs.1,62,920.00 (List attached) calculated as Accrued
interest and interest of Rs.16,403.46 has been earned during this year against
advance under CRES . Interest on FD should be checked and verified by the
Society at regular intervals.
Fixed Assets: Detailed list in this respect has been
furnished by the Society along with value of depreciation and value of assets
as at 31.03.2012 which agrees with the Balance
Sheet. Total
value of Fixed Assets after depreciation has been shown in Schedule-6.
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liability for
expenses Rs.63,470.00 under Schedule-4 and other liabilities of Rs.1,62,941.00
under schedule-5.
Statutory Fund
like Reserve Fund of Rs.29, 406.00 and Bad Debt Fund of Rs.30,557.50 are
unchanged as on 31.03.2012 which are not invested outside the business.
Admission Fee stood at Rs.1,550.00 as on 31.03.2012 after addition of Rs.250.00
during 2011-12.
Staff: There are 06 (six)
permanent staff in the Society.
Maintenance Charges Receivable:
Year Actual
Collection Receivable
2007-08 750.00
50.00
2008-09 700.00
1,400.00
2009-10 3,750.00
5,000.00
2010-11 12,000.00 12, 000.00
2011-12 3,83,000.00 54,500.00
This year
receivable Maintenance Charges have been kept in a Maintenance Fund and not
taken into Income & Expenditure Account.
Moreover, the
penal interest @ 2% on dues of Maintenance Charges has not been accounted for.
Besides, the outstanding Car Parking Charges / Service Charges from letting out
of flats have not also been shown in account of this year i.e. Maintenance
Charges, Car Parking Charges , Service Charges for letting out of flats and
penal interest (late fee @ 2%) on Maintenance Charges dues are accounted on
cash receipt basis.
Building
Repairing Fund : For repairing of buildings a fund has been created for
Rs. 4,71,680.00 upto 31.03.2011. Rs.98,560.00 has been collected &
Rs.45,760.00 was receivable under this head as on 31.03.2012.
Finally,
Rs.1,13,750.00 ( @ Rs.650.00 per member) has been collected during 2011-12 as
extra amount for Building Repair-Rs.79,300.00 has been collected &
Rs.34,450.00 remained receivable as on 31.03.2012. So, total (Rs.6,16,000.00 +
Rs.1,13,750.00) Rs.7,29,750.00 has been
adjusted against expense of Rs.8,51,328.00 and excess expense of Rs.
1,21,578.00 has been adjusted through Income & Expenditure Account.
In order to reduce the execution
period, two modes of execution were adopted viz through departmental labours on
daily basis and later on also through contract system, materials being supplied
by the Society in both the cases.
Finally, Shri
Chinmoy Mukherjee was appointed as Supervisor for Building Repairing & Painting
works as per BOD meeting No: 09 dated 27.03.2011
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General / Suggestion:
a) Membership
Register of a Society is the fundamental evidence of membership and it needs to
be maintained as per Rule. This Society is maintaining the same properly and an
effort in this respect is noticed for updating the same, but in a few cases
signature of members are still not found in the Membership Register and this
should be regularised by obtaining signatures from them. In Membership Register
names of nominees should be filled up properly. Each member will nominate one
person of his / her family and who has no family would nominate one person as
per provision of WBCS Act, 2006 & Rules 2011. This should be treated with
due
importance. Finally the Register is
damaged / torn in some places where
photographs are pasted–Management
should also pay attention in this matter.
b) There
is no change of Bye-Laws of the Society during the period of audit. Fresh
Bye Laws should be obtained as early as
possible as per New W.B.C.S. Act &
Rules.
c) As
per consideration and decision taken in the Special General Meeting held on
03.10.2010 and in the Half-Yearly General Meeting held on 23.10.2011, out of 05
Paint Companies from whom quotations were initially obtained, 03 (Three) Paint
Companies (Asian Paint, Akzonobel & Berger) offering 7 year performance
warranty on their premium brands for using on exterior surfaces were shotlisted
and asked to submit detailed quotations.
After
holding negotiations following submission of quotations by the Companies the
rates (per square feet) offered by Asian Paints on supply and apply basis stood
lowest and was accepted.
It
was intimated by Asian Paints that the materials to the site will be supplied
directly from their godown and payment for the cost of paints should be made in
the name of Jaiswal Bath Emporium who is their authorized dealer. It was also
intimated by them that the work order may be issued in favour of Mr.Prabal
Kumar Das (approved applicator of Asian Paints), 30/20,Andul Road, Howrah- 711
109. The total approximate value of the work including complete material and
labour cost is Rs.17,09,930.00 considering site special discount of Rs.9,000.00
offered by Asian Paints subject to actual measurements at site.
The
Management is advised to collect Money Receipts for making every payment in
this respect. Finally, revenue stamp should be attached for payments over
Rs.5,000.00.
d) No
report of inspection was received by the Society during the year under audit.
e) Cash
Book of the Society was written up to date at the time of completion of the
audit.
f)
Sound Investment position of the Society indicates efficient Management.
g) In
some cases original receipts have not been issued to the members reportedly
residing outside. In future it should be issued to respective members.
h) If
there is any dispute among the members, the local people and other authorities,
it should be dealt with in such a manner that involves less expenditure and
good relations among the members so that the spirit of cooperative movement can
be sustained. Finally, all members should take active part in the day to day
affairs of the Society.
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i)
In case of water pipe line connection Rs.37,180.00 was
collected from members
(@Rs.2,860.00 per member), Rs.17,160.00
was receivable & Rs.1,53,660.00 has
been paid during 2011-2012.
j)
A court case has been filed bearing no.W.P.No.3458 (W) /
2010-Sri Subrata Ray & other twelve members Vs. State of W.B.& others
regarding installation of lift which is still pending.
k) Electricity
Service Charges of Rs.30,470.00 (Payable by HNCA) has been condoned in last
Half Yearly General Meeting held on 23.10.2011.
l)
As per decision in the 15th Annual General Meeting
held on 20.02.2011, Internal Auditor was appointed in the Society for 2011-12.
A number of suggestions have inter alia been made by him in his Report for the
improvement of the Accounting procedures which may be complied.
m) Suggestions
in foregoing paragraphs should be complied & a compliance report as per
Acts & Rules should be submitted.
In conclusion, I
convey my thanks to the Chairman, Secretary, Treasurer, other members of the
Management and Staff of the Society for extending their cooperation in the
matter of completion of this audit.
Date: 04.09.2012
( Srabani Pal )
Audit Officer
Auditor of
Co-op.Societies,
24 Parganas(S), H.Q. Alipore
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