The Nanded-Waghala City Municipal Corporation (NWCMC) is the governing body for the city of Nanded in Maharashtra, India. Established on 26 March 1997, it was formed by merging the Nanded Municipal Council and the Waghala Municipal Council.

The role of the Chief Accounts and Finance Audit Department is crucial in ensuring transparency, accountability, and adherence to rules in financial transactions. The department audits all financial transactions of the municipal corporation through an independent system and verifies whether financial regulations, accounting standards, and government decisions are being followed.

The department’s tasks include conducting systematic audits of documents, files, accounts, and financial reports. It also evaluates budget provisions, oversees the municipal corporation’s tax collection, and helps maintain financial discipline by reviewing expenditure.

Key Functions:

1. Budget Preparation & Management

• Preparation of the annual municipal budget.
• Monitoring budget allocations and expenditure.
• Budget revisions and supplementary provisions.

2. Revenue & Receipts Management
• Accounting of Property Tax, Water Tax, Trade License and other municipal revenues.
• Receipt generation and reconciliation.
• Monitoring outstanding revenue and collections.
3. Payments & Expenditure Management
• Processing payments to vendors, contractors and other beneficiaries.
• Verification of bills and supporting documents.
• Maintaining expenditure records.
4. Accounting & Ledger Management

• Maintaining the General Ledger and subsidiary ledgers.
• Journal Voucher (JV) entries.
• Cash Book and Bank Book maintenance.
• Vendor and customer ledger management.

5. Banking & Reconciliation

• Bank transaction management.
• Bank Reconciliation Statement (BRS).
• Reconciliation of receipts and payments.

6. Payroll & Employee Payments

• Salary processing and disbursement.
• Statutory deductions such as GPF, NPS, TDS, etc.
• Salary-related accounting and reconciliation.

7. Tax & Statutory Compliance

• TDS calculation and accounting.
• GST-related accounting and reporting.
• Preparation of statutory reports and returns.

8. Vendor & Contractor Management

• Vendor registration and ledger maintenance.
• Contractor bills and payment processing.
• Tracking vendor liabilities and advances.

9. Asset & Liability Accounting

• Recording and monitoring municipal assets.
• Management of liabilities, advances and deposits.
• Depreciation and related accounting activities.

10. Financial Reporting & MIS

• Preparation of financial statements.
• Income & Expenditure statements.
• Balance Sheet and Trial Balance.
• Department-wise and fund-wise financial reports.

11. Audit & Compliance

• Providing records and supporting documents for internal/statutory audit.
• Addressing audit observations.
• Maintaining audit trails and financial records.

12. Fund & Grant Management

• Tracking government grants and municipal funds.
• Fund-wise receipts and expenditure monitoring.
• Utilization and financial reporting.

13. Year-End Closing

• Finalization of accounts.
• Year-end adjustments and provisions.