by contractor’s invoice signed by the Chairman and countersigned by the Service provider.
Grants release to FCSCs and Rural Haats
20. For the FCSCs and Rural Haats community, the procurement of goods and services has been envisaged in the project. So the beneficiary contribution of these institutions would remain in a separate bank account opened in the name of the concerned organisation at their level. The beneficiary contribution part will initially be expended for payments to be made to contractors / suppliers of FCSCs/ Rural Haats, and, after the organisation submits the required documents (along with the supporting documents) of having utilised this beneficiary contribution amount, the DDRCS will release the State Govt/ World Bank funds to the beneficiary institutions in three tranches on receiving the stipulated documents which have already been mentioned in the Funds Flow Chapter. For these two sub-components release of funds to the farmer groups will be accounted for as expenditures at the DDRC level.
The DDRCS will also maintain the books of accounts at his level for the beneficiary contribution wherein separate ledgers would be maintained for APMCs, FCSCs and Rural Haats in the district. A format of registers to be maintained for this purpose has been given in Annexure 9,10, 11 attached. The expenditures against budgetary grants will be maintained through the state’s mainstream accounting system.
An independent accountant with computer knowledge is proposed to be provided to all the offices of District Deputy Registrar Co- operative Societies for this work. The accounts would be maintained on the basis of single entry system as per existing system in State Govt.
Apart from the primary books of accounts, each DDRC office will maintain contract registers (Annexure 8).
Accounting Centre at MSWC
21. The accounting centre of MSWC under the project will maintain the books of accounts pertaining to their component under the project. MSWC will furnish