Budget

General201828 sections

Statutory text

(1) Each financial year, the Board, shall prepare and present a budget to the State government for the receipt and expenditures for the next financial year, prepared in accordance with this Act and as per the rules and regulations. (2) The Board shall ensure that necessary requirements for the State government's approval are maintained in the records, and in accordance with the prior approval of the competent authority. (3) The Board, shall maintain its receipts and expenditures separately through various channels and shall make no unauthorized expenditure of all its receipts. (4) The Board, shall not require any budget from the government for its establishment, rules and regulations' expenses, expenditure and for the development of its activities, as well as the other expenses associated with its financial activities. (5) The Board's expenditure, shall be sanctioned through the financial matters performed by the Board.

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