Kochi Corp Loses Revenue But Ignores Listener Suggestions | Kochi News
Even though the company has been facing serious financial difficulties for many years, suggestions in audit reports to plug revenue leaks remain ignored by local authorities. Improper the collection of housing tax is one of the shortcomings that have appeared in audit reports for some years. If the authorities had had discussions on how to plug these revenue leaks and made plans to improve tax collection, the civic body’s financial situation would have been much better. “The objections raised in the audit report for 1965 are still not resolved! This shows that the company’s authorities have not called a special board meeting to discuss each year’s audit report for decades. According to the standards, a special council must be convened once the audit report for the year is out. Then only corrective action can be taken,” said CK Stone, a former adviser. “In some cases, the civil servants responsible for the liabilities caused to the local body would retire without paying the penalty. According to a court verdict, the company can withhold a maximum of 15% of the total pension benefits of the civil servant who auditors found caused debt to the civic body. While the civil servant would only lose part of his retirement benefit, the liability he would cause to the company would be much higher. The debts of these officials can only be fully recovered after holding a special council and discussing the auditors’ remarks on the loss the officials have caused to the company,” Peter said.
Mayor M Anilkumar said he would soon take steps to convene a special session of the company’s board to discuss the audit reports. “I had submitted the audit report for 2019-2020 to the finance standing committee for discussion. A special board meeting can only be called with the recommendations of the finance standing committee. audit for 2020-21, which came out a few days ago, to the finance standing committee,” Anilkumar said.