Accounts and Audit

(1) The Water Users Association shall maintain proper accounts and other relevant records and prepare an annual statement of accounts including the balance sheet in such form as may be prescribed. (2) The accounts of the Water Users Association shall be audited by an auditor appointed by the General Body. (3) The audit report and the annual statement of accounts shall be placed before the General Body for its approval and a copy of the same shall be sent to the prescribed authority. (1) The funds of the farmers' organisation shall comprise of the following namely: (a) grants and commission received from the State Government as a share of the Irrigation Water charges collected in the area of operation of the farmers' organisation; (b) such other funds as may be granted by the State Government and Central Government for the development of the area of operation; (c) resources raised from any financing agency for undertaking any economic development activities in its area of operation; (d) income from the properties and assets attached to the irrigation system; (e) fees collected by the farmers' organisation for the services rendered in better management of the irrigation system; and (f) amounts received from any other sources. (2) The State Government may authorize the farmers' organisation to have their own resources for the maintenance of their irrigation system and growth of such farmers' organisation. (3) The water charges collected by the Water Users' Association shall be deposited with the treasury of the State Government and on such deposit a minimum of twenty five percent of the deposited amount shall be assigned to the said Water Users' Association in prescribed manner. Provided further that the amounts assigned to the Distributory Committee and the Project Committee shall be as prescribed by rules made under the Act.