Chapter III FINANCE, ACCOUNTS AND AUDIT

10.

1. (1) The Board may levy fee on the farmers, dealers, traders, processors, manufacturers, or any such person for the extension of market or export services rendered by the Board. The quantum of levy shall be decided with the prior approval of the Government.
2. (2) The Government may, after due appropriation made by State Legislature by law in this behalf, pay to the Board by way of grants or loans such sums of money as the Government may think fit for being utilized for the purposes of this Act.

11.

1. (1) There shall be formed a Fund to be called the Pulses Development Fund and there shall be credited thereto,-
   • (a) fee collected under sub-section
2. (1) of section 10;
   • (b) any grants or loans granted by the Government for the purposes of this Act;
   • (c) any grants or donations or loans that may be made by any person, voluntary organizations or institutions for the purposes of this Act including loans under section 12: Provided that no such grant, loan or donation shall be credited to the Fund except with the prior approval of the Government.
3. (2) The Fund shall be applied, -
   • (a) for meeting the cost of the measures referred to in section 4;
   • (b) for meeting the salaries, allowances and other remuneration of the members, officers and other employees, as the case may be of the Board;
   • (c) for meeting the other administrative expenses of the Board and any other expenses authorized by or under this Act: Provided that the donations from any person or voluntary organization or institutions shall be used for the purpose for which it was donated subject to the functions mentioned in section 4.
   • (d) for repayment of any loans.

12.

1. (1) The Board may, for the purposes of carrying out its functions under this Act, and with the previous approval of, and subject to the directions of the Government, borrow money from, -
   • (a) the public by the issue or sale of bonds or debentures or both, carrying interest at such rates as may be specified therein;
   • (b) any bank or other institution;
   • (c) such other authority, organization or institution, as may be approved by the Government in this behalf.
2. (2) The Government may guarantee the payment of the money borrowed by the Board under sub-section
3. (1) aforesaid and the payment of interest thereon and other incidental charges.

13. Subject to such conditions as may be specified by the Government, where the Board is of opinion that any amount due to or any loss, whether of money or of property, incurred by the Board is irrecoverable, the Board may with the previous approval of the Government, sanction the writing off finally of the said amount or loss: Provided that no such approval of the Government shall be necessary where such irrecoverable amount or loss does not exceed in any individual case and in the aggregate in any year such amounts as may be prescribed.

14. The Board 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 Board and forward the same to the Government.

15. The Board 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 submit a copy thereof to the Government.

16.

1. (1) The Board shall maintain proper accounts and other relevant records and prepare an annual statement of accounts in such form as may be prescribed by the Government in consultation with the Andhra Pradesh state Audit department.
2. (2) The accounts of the Board shall be audited by the Andhra Pradesh state Audit department at such intervals as may be specified by them and any expenditure incurred in connection with such audit shall be payable by the Board to the Andhra Pradesh state Audit department.