BESCOM : Bangalore Electricity Supply Company Limited

SMS: 58888
Helpline: 1912
9449844640

Expenditure

GENERAL MANAGER (EXPENDITURE) SECTION

CASH MANAGEMENT SECTION Preparation of daily cash-flow statement This Section is having Head Office Current Accounts with the following Banks for pooling collection from all the local bank accounts.

Sl. No.

Name of the Bank

Address

1

Canara Bank Town Hall Branch, Bengaluru

2

State  Bank of Mysore CBAB Complex, Kaveri Bhavan, Bengaluru

2

State  Bank of Mysore CA Branch M.G.Road, Bengaluru

3

State Bank of India Kaveri Bhavan Br., Kaveri Bhavan, Bengaluru

4

Syndicate Bank Gandhi Nagar Branch, Bengaluru

5

Bank of Baroda B’lore Main Br., K.G.Road, Bengaluru .

6

Vijaya Bank K.G.Road Branch, Bengaluru

7

ICICI Bank Commissariat Road, Bengaluru .

The pass sheets of these bank accounts obtained through internet on daily basis. Based on these pass sheets, the collections from each bank will be taken into account and total day’s collections will be arrived. Based on the availability of the funds as stated above, expenditure towards Capex, power purchase, Employees cost, A&G, R&M, debt servicing etc., will be allocated for various accounting units in response to their fund requisition / bills. The closing balance under each bank account will be arrived after deducting the allocation from the total availability of funds. Finally, the balance amount as per each Bank Account and as per Cash flow will be tallied on daily basis. The average total monthly collection is Rs. 900 Crs. to 950 Crs., and allocation for expenditure is Rs. 950 Crs. to Rs. 1000 Crs.

Reconciliation of amounts transferred from Head Office:

The funds allocated / amount transferred to the Operative Bank Current Accounts of accounting units will be accounted as “Funds transferred from Head Office”.  All accounting units have to submit Monthly Bank Reconciliation Statement for their Operative Account. After receipt of monthly Bank Reconciliation Statement, the Funds transferred from Head Office” will be reconciled. However, during the finalization of March (Final) Accounts, a certificate will be issued for having tallied the total amounts transferred from Head Office and amount taken into account by the accounting units.

Contribution to KPTCL & ESCOMs Pension & Gratuity Trusts:

As per the orders of Govt., of Karnataka, all ESCOMs have to make contribution to the Trust from 01-06-2002 towards the terminal benefits of its employees transferred under the second transfer scheme. The details of percentage of Pension and Gratuity Contributions from time to time are as follows:

Sl. No.

For the Period

% of Pension Contribution on Basic Pay + DA

% of Gratuity Contribution on Basic Pay

1

01.6.2002

31.3.2004

15.05

1.86

2

01.4.2004

31.3.2005

19.06

2.36

3

01.4.2005

31.3.2008

21.00

1.77

4

01.4.2008

31.3.2010

26.13

2.24

5

01.4.2010

31.3.2011

29.11

3.34

5

01.4.2011

30.00

6.01

Accordingly, BESCOM is paying the monthly pension and gratuity contribution initially on adhoc basis, subject to adjustment against the actual amount of contribution to be arrived based on the finalization of March (Final) Accounts.

Reimbursement of terminal benefits given to the BESCOM employees on behalf of KPTCL and ESCOMs P & G Trusts.

BESCOM is initially releasing the terminal benefits through accounting units to the retired/deceased employees on behalf of the KPTCL and ESCOMs P & G Trusts. After completion of the month, a requisition for reimbursement will be sent to the Trust along with the details of DCRG & Commutation. The Trust is reimbursing this amount to BESCOM. During March (Final) Accounts, all the accounting units have to reconcile these amounts with the figures of Corporate Office.

OVERDRAFT : BESCOM has availed the overdraft facility to meet the working capital requirements with the following banks.

Sl. NO.

Name of the Bank

Limit (Rs. In Crores)

1.

Vijaya Bank

300

2

Canara Bank

500

3

Bank of Baroda

150

4

Bank of India

100

5

Syndicate Bank

100

5

State Bank of Mysore

100

Letter of Credit : BESCOM has also opened Letter of Credits at Bank of India, Bengaluru Main Bank, K.G.Road, B’lore, in favour of power sellers / transmission utility to an extent of Rs. 240.04 Crs., Rs 89.88 Crs,. with State Bank of Mysore and Rs.70.60Crs in BOB, Bengaluru Main Branch, KG Road,Bengaluru .
ESCROW Account : BESCOM has opened ESCROW account at HDFC Bank, Richmond Road Branch, Bengaluru , in favour of KPTCL for the payment of transmission charges to an extent of Rs. 70.86 Crs.
Loans and Budget section Term Loan: BESCOM has availed term loan to meet the capital expenditure with the following financial institutions

Long Term Loan Balance Rs In Cr
Sl:No. Particulars Loan amount as on 31.03.2012 Loan amount as on 31.03.2013 Loan amount as on 31.03.2014(Provisional)
1 Loan from GOK-For PMGY 1.10 0.99 0.99
2 Loan from GOK-For APDRP 45.88 41.71 41.71
3 Loan from GOK-Interest free loan(High cost energy) 0.94 0.94 0.94
4 Loan from GOK-Gangakalyana 2.16 1.62 1.62
5 Loan from GOK-Power Sector Automation 0.88 0.73 0.73
6 Loan from PFC-KPTCL 1.11 0.00 153.91
7 Loan from PFC-DRUM 12.32 10.27 8.20
8 Loan from PFC-RAPDRP PART-A 78.41 78.41 146.65
9 Loan from PFC-RAPDRP PART-B 43.54 43.54 43.54
10 Loan from REC-KPTCL 94.56 75.65 56.74
11 Loan from REC-APDRP 6.16 5.41 4.66
12 Loan from REC-RGGVY 15.59 13.94 12.29
13 Loan from SBI 21.46 7.18 0
14 Loan from Corporation Bank 0.00 0.00 284.34
15 Loan from Bank of India 200 200 171.40
16 Loan from Canara Bank 400 400 740.00
17 Loan from Bank of Maharashtra 125 400
18 Loan from JBIC 104.68 182.37 221.34
  Total 992.03 1187.76 2289.06

Short Term Loan: BESCOM has availed the Short term loan facility to meet the working capital requirements with the following banks.

Short Term Loan Balance Rs In Cr
Sl:No. Particulars Loan amount as on 31.03.2012 Loan amount as on 31.03.2013 Loan amount as on 31.03.2014
1 South Indian Bank 150 200 200
2 Vijaya Bank 350 350 150
3 Corporation Bank 200 200 125
4 STATE BANK OF MYSORE 250 100
5 Bank of Maharashtra 75 0.00
6 RECL 300 50
7 PFC 181.28
8 Syndicate Bank 250
TOTAL 700 1375 1056.28

On receiving the intimation from Banks/Financial institutions or on due date for payment towards debt servicing, the same is verified with that of agreed terms and conditions and payment will be arranged. Revenue Budget allotment: On collecting the actual expenditure of previous year from accounting units and on considering the rate of inflation, Annual revenue budget will be prepared duly restricting the total revenue budget to ERC approved expenditure of the company. One fourth of annual budget will be allocated to first quarter budget, for releasing second quarter onwards previous quarter actual expenditure will be considered. Revenue Budget details are as detailed bellow (Rs in Crore)

Account Head

Particualrs

2011-12

2012-13

2013-14

KERC approved Budget

Actual Expenditure

KERC approved Budget

Actual Expenditure

KERC approved Budget

70 Power purchase 8965.24 8559.75 11292.61 10787.25 10914.80
74 Repairs & Maintenance 725.6 32.94 871.34 44.27 977.38
75 Employees Cost 649.89 739.12
76 Adminstration & General Expenses 77.04 112.69
Sub-Total 725.6 759.87 871.34 896.08.34 977.38
78 Interest & Finance charges 442.19 242.22 515.53 407.46 526.31
Total 10133.03 9561.84 12630.94 12090.79 12418.49

Reconciliation of amounts transferred from local bank to Head Office: The amount transferred from Non-Operative Bank Current Accounts to Head office Operative current account will be accounted as “Funds transferred to Head Office”.  All accounting units have to submit Monthly Bank Reconciliation Statement for their Non-Operative Account. After receipt of monthly Bank Reconciliation Statement, the amount transferred to Head Office” will be reconciled. However, during the finalization of March (Final) Accounts, a certificate will be issued for having tallied the total amounts transferred to Head Office and amount taken into account by the accounting units. The following are the non-operative accounts maintained with different Banks

NAME OF THE BANK NUMBER OF ACCOUNT
HDFC Bank

85

STATE BANK OF MYSORE

93

STATE BANK OF INDIA

6

CANARA BANK

45

SYNDICATE BANK

11

BANK OF BORADA

3

ICICI BANK

3

AXIS Bank

1

IDBI BANK

1

TOTAL

248

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