Chapter V FINANCE, ACCOUNTS AND AUDIT

1. (1) The Authority may levy fees and charges at such rates for the services or benefits rendered in relation to the use of the inland waterways for the purposes of shipping, navigation, water tourism, infrastructural facilities including facilities for passengers and facilities relating to the berthing of vessels handling of cargo, storage of cargo and Wharfage.
2. (2) The fees and charges levied under sub-section-(1) shall be collected in such manner as may be determined by the Authority.

The Andhra Pradesh Government may, after due appropriation made by Andhra Pradesh Legislature by law in this behalf, make to the Authority grants and loans of such sums of money as that Government may consider necessary.

1. (1) The Authority may, in such manner and subject to such terms and conditions as may be determined by it, obtain loans from any Nationalised Banks or Consortium of Banks, borrow money from any source by the issue of bonds, debentures or other instruments as it may think fit for discharge of all or any of its functions.
2. (2) The Authority may stand as guarantor to any organisation established by Andhra Pradesh Government or the authority itself, subject to the approval of AP Government.

1. (1) There shall be constituted a Fund to be called the Andhra Pradesh Inland Waterways Authority Fund (APIWA Fund) by the Government by way of initial grant. Any subsequent amounts shall be credited to the Fund by way of -
   • (a) any grants made to the Authority by the government of Andhra Pradesh under section 19;
   • (b) all fees and charges received by the Authority under this Act and
   • (c) all sums received by the Authority from such other sources as may be decided upon by the Government of Andhra Pradesh.
   • (d) Any other interim / ad - hoc amounts
2. (2) - The Fund shall be applied for meeting -
   • (a) salary, allowances and other remuneration of the members, officers and other employees of the Authority;
   • (b) expenses of the Authority in the discharge of its functions under section 16; and
   • (c) expenses on objects and for purposes authorised by this Act.

The Authority shall prepare, in such form and at such time each financial year as may be prescribed, its budget for the next financial year, showing the estimated receipts and expenditure of the Authority and forward the same to the Government of Andhra Pradesh.

The Authority may invest its funds (including any reserve fund) in the securities of the State/Central Government or in such other manner as may be prescribed or as fixed deposits with any nationalised banks regulated by Reserve Bank of India.

The Authority shall prepare, in such form and at such time each financial year as may be prescribed, its annual report, giving a full account of its activities during the previous financial year, and submits copy thereof to the Government of Andhra Pradesh.

The accounts of the Authority shall be maintained and audited in such manner as may, in consultation with the Principal Accountant General (Audit), Andhra Pradesh, be prescribed and the Authority shall furnish, to the Government, before such date as may be prescribed, its audited copy of accounts together with the auditors’ report thereon.

The Government of Andhra Pradesh shall cause the annual report and auditors' report to be laid, as soon as may be after they are received, before each House of Andhra Pradesh Legislature.