- To operate bank accounts as per prescribed procedure, and prepare cash flow statements for on-going and new projects.
- To process and pay the contractors/suppliers bills as per policy, procedure, rules in vogue.
- To process and pay salaries, wages, advances and loans, retirement benefits and pension.
- To deal with adjustment/correction cases referred by revenue generating wings.
- To Book the financial transaction.
- To deal with verification of credit cases on files of plots received from Directorate of Estate Management/Directorate of Land Development and Town Planning Wings.
- To maintain books of accounts relating to all transaction as well relating to fixed assets, investment, inventories receivables, payable, long & short term loans, funds, Income & Expenditure work in progress etc.
- To prepare annual budget ensure its approval and for-casting and establish the effectiveness of annual budget.
- To get release funds from Government.
- To prepare and submit all accounting reports and statements to meet legal and management requirements as well Government and other agencies.
- To negotiate with financial institutions and agencies for arranging loans, borrowings, overdraft and advances required by LDA either for operation for the new development programmes.
- To liaise with external & internal auditors and ensure timely submission of answers of their observation and coordinate other directorates in this respect.
- To ensure that all collection and payments are properly recorded, handled and accounted for.
- To coordinate with EDP Section for preparation of financial/accounting transactions record i.e. trial balance general and sub ledgers.
Bank Accounts are opened with the Commercial Banks. The following banks have been approved and notified by the Finance Department, Government of the Punjab.
Listed banks are:
- National bank of Pakistan
- Habib Bank Ltd
- United Bank Ltd
- Muslim Commercial Bank
- Allied Bank of Pakistan
- Punjab Provincial Cooperative Bank Ltd
- National Development Finance Corporation
- Industrial Development Bank of Pakistan.
- Agricultural Development Bank of Pakistan.
- The Bank of Punjab.
- Banker Equity Ltd.
All funds released by the Government for development projects are kept with PLA OF LDA maintained with Treasury office, Lahore.
All bills are received after pre-audit from different branches of accounts;
- Payment vouchers are added as per amount passed by Audit.
- Cheque & Bank advice is prepared.
- Signed by Assistant Director, Deputy Director Accounts and Director Finance.
- Payments voucher sent to computer for booking of payment.
Contractor's bills are received from the following Wings:
- Engineering Wing
- Administration Directorate.
Contractor's bills for work done in different schemes are received from Engineering Wing which is forwarded by Chief Engineer, Additional Chief Engineer and Directors of the related Project.
Contractor's bills for store and supplies are received from Director Administration.
The bills are processed/checked on the basis of:
- Administrative Approval
- Technical Sanction
- Budget Provision
- Notice inviting quotations (in case of up to Rs.15,000/-)
- Press Clipping for Tenders/Local Tender Notice (in case of above Rs.15000/-)
- Tender documents duly signed by authorized officer and contractor
- Comparative statement duly signed by authorized officer
- Tender evaluation report in case of amount of work exceeds Rs.5.00 lac
- Acceptance letters/work order
- Agreement duly signed by authorized officer and contractor on Stamp Paper.
- Deposit call receipt.
- Entry in measurement book or stock register/repair register.
- Completion Certificate.
- All bills are received in the office of Director Finance, LDA and passed on to the dealing section for processing the bill after fulfilling the code formalities.
- The dealing official forwarded the bill to Assistant Director after complete checking.
- After sanction of Director Finance the bill is forwarded to audit for pre-audit.
- After pre-audit a Journal Voucher of each bill is prepared and approved by the respective Deputy Director Accounts.
- Pre-audited bill along with copy of approved Journal Voucher is forwarded to Cheque Section for issuance of Cheque.
Pension benefit at the time of retirement is processed by Director Administration after getting advice of audit, DA/ADG/DG according to the cader of employee accord sanction and after pre-audit Directorate of Finance issue the cheque .
Monthly pension is also computerized like the salaries therefore, at the end of each month pension register is produced through computer after incorporating required changes through Change Proforma, issued during the month.
Each Change Proforma in the pension of any retired employee initiated from Administration Directorate is also verified and vetted by the Accounts Section and Deputy Director Accounts is empowered to approve pension change being drawing and disbursing officer.
After incorporating all changes it is processed during each month. The Computer Section generates pension register.
The Pension register is also pre-audited before final disbursement of pensions through respective bank accounts of retired employees.
The pay bill of Contract employees are initiated by the Administration Directorate in the personal file of respective employee and forwarded to Finance Directorate/Audit for payment.
- As the salary of each regular employee of LDA is computerized therefore, it is processed automatically.
- Each change proforma in the salary of an employee initiated from administration Directorate is verified by the Accounts Section and also vetted by Audit. Deputy Director Accounts is empowered to approve salary change being drawing and disbursing officer.
- After incorporating all change proformas processed during each month, the Computer Section produces complete pay roll register.
- The pay roll register is also pre-audited before final disbursement of salaries through respective bank accounts of employees.
The Demand is raised in the following Directorates:
- Estate Management
- Land Development
- Town Planning
- Engineering Wing
- A computerized or manual challan wherein required code is incorporated in which amount is to be deposited i.e. Development Charges, Cost of Land, balance if any Sui Gas Charges, Fee, Fine, Penalties, Commercialization charges, call deposit etc. is deposited in especially established booth of National Bank of Pakistan and Habib Bank Limited.
- Bank after entering in his ledger/books forward such challan to Finance which after checking its concern code send to Computer for preparation of Cash Book.
- All payment vouchers prepared by cheque section are sent to computer section for incorporating the same in Bank book/General Ledger.
- The transaction of receipts, payments, investment, inventories, receivables, payable, short & long term loans, funds, income & expenditure are booked through a Journal Voucher, passed by Assistant Director Accounts and approved by Deputy Director Accounts.
- A Control number is incorporated on Journal Voucher and send to Data Cell for checking of codes and other description.
Data Cell send the same to Computer Cell, for incorporating the same in the general ledger.
- The Computer Center generates monthly trial balance at the end of each month. Final Accounts and Balance Sheet are compiled at the end of each financial year.
- To prepared annual budget ensure its approval and for-casting and establish the effectiveness of annual budget.
- The Annual Budget of LDA is prepared at least two months in advance of each financial year.
The Annual Budget of LDA is prepared at least tow month in advance of each financial year.
Allocation Current FY
for forthcoming FY
The statement is circulated to all to fill the same and send to Finance Directorate for further checking and incorporate the same in budget.
Pre-Budget meetings are fixed with each Directorate to discuss in detail the budget proposals.
After compiling the budget of all directorates the draft budget is forwarded to Additional Director General/Director General for information and approval.
Then the Budget is forwarded to the Budget Sub Committee for scrutiny and examination.
After clearance of the Budget by the Budget Sub Committee the same is forwarded to Chairman LDA for approval.
When approval is received, the budget is circulated to all concerned.
All payments are made as per provision in budget so, that budget targets may be achieved.
Funds are allocated by Planning & Development.
Sanction is accorded by Finance Department.
Amount is released by Accountant General Punjab.
Finally disbursement is made by Treasury Office.
15% of total UIP Tax is retained by Excise Department as Service Fee.
Balance 85% is allocated to water and sanitation agency (WASA) and Municipal Corporation Lahore (MCL) on 50 % basis i.e. 42.5% and 42.5% moreover MCL share is further distributed on 50:50 and divided between MCL & LDA.
Finance Department distribute the collected UIP Tax among the above mentioned departments in the ratio on behalf of Excise & Taxation Department.
The later procedure of release of funds from Government is the same.
There are two types of audit being carried out in LDA and Finance Directorate liaise with them.
a. Internal Audit
b. External Audit
a. INTERNAL AUDIT
All types of bills are released after the clearance of Pre-audit by the resident audit team of Local Fund Audit.
b. EXTERNAL AUDIT
External Audit is further consisted of two audit.
- Concurrent Auditors of Accountant General Punjab.
- Commercial Auditors appointed by Authority.
- Concurrent audit of Lahore Development Authority do the post audit of each department of Lahore Development Authority. They frame audit observations, and if not settled-down convert into advance paras.
- Advance paras are settled after satisfaction of audit in a Departmental Accounts Committee meeting chaired by Director General Lahore Development Authority and participated by Chief Engineer, concerned Director, Director Finance and Deputy Director Audit Works, after verification of record, by auditors.
- If audit is not satisfied with the reply of some observations they send the Para to Secretary Housing who convert the Para into Draft Para and such Para are settled after satisfaction of audit in a meeting chaired by Secretary Housing participated by Director General, Chief Engineer, concerned Director Audit from Auditor General Punjab office after verification of record by auditors.
- If audit is not satisfied in the meeting of Secretary Housing, they send the Para for Printing in book of a Finance Year of Auditor General Punjab.
- Such Paras are settled in the Public Accounts Committee meeting held in the Punjab Assembly chaired by Chairman Public Account Committee and elected representatives, participated by Director General, Secretary Housing, Chief Engineer concerned Directors, Auditors and representative of Finance Department.
INCHARGE : Director Finance
TELEPHONE : (92)042-99262243
POSTAL ADDRESS : Building 2, 467 Block D/2, M.A. Johar Town, Lahore