Chapter IV EXPENDITURE, BUDGET, ACCOUNTS AND AUDIT OF THE BOARD

The expenditure of the Board including the salary, allowances and pension payable to the Chairperson, Members and Officers of the Board shall be met from the Consolidated Fund of the State.

The Government shall, after due appropriation made by law for this purpoze i n the State legislative Assembly, grant such amount to the Board as deemed necessary for utilization for the purposes of this Act.

The Board shall prepare in each financial year a budget containing anticipated income and expenditure for the next financial year and shall submit the same to the Government within two months from the commencement of each financial year, with such number of copies of the budget so prepared, as may be required by the Government.

(1) The Board shall maintain proper accounts and other relevant records and prepare the annual statement of accounts in such from as may be prescribed, in consultation with the Accountant General. (2) The accounts of the Board shall be audited annually bythe Accountant General and expenditure incurred in respect of such audit shall be payable by the Board to the Accountant General. (3) The Accountant General and any person appointed by him in connection with the audit of accounts of the Board under this Act shall have the same rights and privileges as Accountant General generally has in connection with the audit of Government accounts and, in particular, shall have the right to demand the production of books, accounts, connected vouchers and other documents and papers and to inspect any office of the Board. (4) The accounts of the Board, as certified by the Accountant General or any other person engaged by him in this behalf, together with the audit report thereon shall be forwarded annually to the Government by the Board and the Government shall cause the report to be laid before the legislative Assembly within a period of six months from the date of its receipt.

The Board shall, for each financial year, prepare annual report containing the complete details of its activities in the previous financial year in such form and time as may be prescribed and shall also forward a copy of it directly to the Government.