SCSS CONTROL POCEDURE

SENIOR CITIZEN SAVINGS SCHEME CONTROL PROCEDURE

[Issued by the Dg, Posts letter No: 79-8/2004-FS dated 20.08.2004 and further amended from time to time]

79B. 1. Introduction of the Scheme: The scheme has been introduced w.e.f. 02.08.2004 in all the Head Post Offices , MDG and Departmental Sub offices.

2. Control Procedure: General:- the control Procedure including checking of vouchers etc. prescribed for MIS accounts will be followed for Senior Citizen Savings Scheme account.

 3. Maintenance of Sb-85 Register: In Head Office where SCSS work has been computerized; the SBCO will maintain SB-85 register.

 4. Checking of vouchers: General check of vouchers and checking of vouchers with reference to entries in the ledgers: - The vouchers both receipts and payments will be checked to the following extent:-

(a) All vouchers of premature and final closures.

(b) 10% of vouchers of monthly payment of interest.

 (c) 4% of deposit transactions.

  (d) The amount of Interest calculated for new accounts with reference to interest rate to ensure correctness.

Note 1 :- The checks will apply uniformly to accounts maintained either manually or on computers.

Note 2: For this scheme the ledgers in head offices for accounts standing in Sub office are not to be maintained. Hence, general checks of vouchers for the sub officers accounts will only be done.

5. Verification of Ledger balances:- The balances of the accounts in each office will be verified on six monthly basis. The first round will cover the period from January to June and the second round from July to December. The listing will be done for the balances as on 30th June and 31st December each year. The verification will be done in the following manner.

(i) For accounts in head office, balances will be listed by the SBCO ledger wise. The balances in the register SB-85 will be arrived at by adding the total credits to and deducting the total debits till the end of the month upto which transactions have been included in the list of balances from the opening balance of the month. The closing balance should agree with that shown in the list. If it agrees the Postal Assistant will write "Agreed" in the list under his dated signature. The list will then be placed before the Supervisor. The Supervisor will verify and note it in the ledger verification check sheet under his dated initials.

(ii) If the two sets of balances differ, the Postal Assistant will write the name of office, ledger number and two sets of balance in the discrepancy register. Action will be taken to reconcile the discrepancy and to have the two sets of balances reconciled.

 (iii)The sub offices shall prepare half yearly list of balance. The list shall be sent to HO and shall be received by the SBCO from the Postmaster. Balances in SB Register SB-85 shall be worked out in the same manner as for HO and agreed with the closing balance of the office as per the list.

 (i)                  If the two lists of balances differ, P.A shall write to the sub offices with ledger number and two sets of balances in the ledger discrepancy register. Action shall than be taken to reconcile the discrepancy and to have to two sets of balances reconcile.

6. Detecting the mistakes during Ledger Verifications: the following procedure may be followed for detecting the mistakes while agreement of ledger balance:-

(a) The previous agreement sheet of the binder should be checked with the balances shown in the current list prepared. The accounts having no change in balance should be ticked.

(b) The accounts whose balances have undergone a change should then be examined to see if the balances in respect of these accounts have been cast correctly in the binder. In case of correction to ledger balances it should be seen if the same is supported by the entries in SB-85 register.

(c) Accounts transferred to other offices will be checked with reference to entries in SB-85 and SB-85(a) registers. In case of account opened by transfer it should be checked from the ledger or the voucher whether the account has been correctly included in SB-85 and SB-85(a) registers.

(d) Accounts which have been closed should be checked with reference to the entries in the list of transactions and SB-85 register.

(e) If the balances still do not agree, the postings in SB-85 register should be checked with the list of transactions. If the balances still do not agree the totals of lists of balances and balances cast in SB-85 register should be checked again.

(f) In addition to checking the balances with SB-85 register, the SBCO will check with the list of balances of previous period as to whether the increase in balance is correct with reference to interest due and paid in the account.

7. Register of Office wise discrepancies: As prescribed for MIS accounts , a register of office wise discrepancies will be maintained to note particulars of ledgers which do not agree automatically in the following format:

 

Date selected                   No. of               Balance as                       Balance as

for agreement                  ledger               per SB-85                        per the list

          1                                  2     3                                       4

Difference of           Agreed          Dated initials               Dated initials

3 and 4                   Balance          of the P.A.                      of the Supervisor

                      

          5                                 6                         7                                       8         

On reconciliation of the discrepancy, the completed register will be checked and initialled by the Supervisor.