Preparation of the City Corporation budget

Preparation of the City Corporation budget.- (1)Every committee shall submit a budget estimate to the Mayor which shall comprise of the required budgetary support for the implementation of the existing schemes, list of capital expenses, required man power and such other expenses for the purposes of effective implementation of the Act within a particular zone.

1. (2) No committee shall submit a budget estimate to the Mayor without consulting with the ward committees and considering its recommendations.
2. (3) The ward committees shall prior to making its recommendations to the committees organize such public consultations as necessary.
3. (4) The format and process for submission of committee budgets estimate shall be as specified.
4. (5) The Commissioner shall prepare a budget estimate for the City Corporation upon considering the budget estimates from all the committees.
5. (6) The budget estimate shall state the following,-
   • (a) The receipts and payments for the previous financial years and expected receipts and payments for the upcoming financial year;
   • (b) Compliance to the medium-term fiscal plan;
   • (c) Rates at which various taxes, surcharges, cess and fees that shall be levied by the City Corporation for the immediately succeeding financial year; and
   • (d) The amount of money to be raised as a loan amount of money allocated to each committee and the basis for the utilization of such amounts.
6. (7) The budget estimate shall be prepared, presented and adopted in such form and in such manner and shall provide for such matters as may be prescribed.