PROFORMA ADJUSTMENT

                   

PROFORMA ADJUSTMENT:    Adjustment with non-Railway account officers on proforma basis.

All adjustments involving amounts of magnitude which cannot be made through Reserve Bank by 25th April should be intimated to the Railway Board by 1st May positively stating the circumstances under which the adjustment cold not be made. The transactions should not, however, be included, in the Accounts till an intimation to that effect has been received from the Board who act after approval of the Controller General of Accounts., Ministry of Finance.

The statements of transactions proposed to be adjusted on proforma basis received in Railway Board's office are consolidated and one consolidated  list indicating the amount in respect of each item indicating nature thereof and the Accounts Officer?(Non-Railway) with whom the same is adjustable, debit or credit as the case may be is sent to the Controller General of Accounts, Ministry of Finance. Simultaneously, copies of these statements are sent to  the Accounts Officer in whose books the transactions are adjustable. On approval of the proposal for proforma adjustments, CGA advises those Accounts Officers to accept the adjustments. The Railway accounts officers are advised by Railway Board to send all vouchers direct to the other Accounts Offices and obtain their acceptance. Thereafter, they send transfer certificates debiting/crediting Railway Board and carry out adjustments under final/service head in their account.

This is done to ensure adjustments of transactions pertaining to an year in that year's account. This is a necessity specially in cases where it is not possible to settle transactions through Reserve Bank such as interest on PF balances payment of dividend to General Revenue etc.