Budget

Budget

1. (1) The Board shall, before such date in each year as may be prescribed, prepare and submit to the State Government for approval an annual financial statement and the programme of work for the succeeding financial year.
2. (2) The annual financial statement shall show the estimated receipts and expenditure during the succeeding financial year in such form and detail as may be prescribed.
3. (3) The Board may, at any time during the year, in respect of which an annual financial statement has been submitted, submit to the State Government a supplementary financial statement and the provisions of sub-section
4. (2) shall apply to such statements as they apply to the annual financial statement.
5. (4) No sum shall be expended by or on behalf of the Board unless the expenditure of the same is covered by provision in the annual financial statement or a supplementary financial statement.