Annual examination of sinking funds.

The Trivandrum City Improvement Trust Act, 1960

Civil1960160 sections7 chapters

Read full ActSections

Chapter V FINANCE

Statutory text

(1) The Examiner of Local Fund Accounts, Kerala, shall examine the said sinking funds every year and ascertain whether the cash and the current value of the securities at : credit of such funds are actually equal to the amount which would have accumulated had investments been regularly made and had the rate of interest as originally estimated been obtained therefrom.
(2) The Board shall forthwith pay into any sinking fund any amount which the Examiner of Local Fund Accounts may certify to be the deficiency therein after examination as aforesaid, unless the Govern- ment specially sanction a gradual readjustment. 107 Estimates of income and expenditure to be laid annually before the Board.—(1) The Chairman shall, at a special meeting to be held in ’ the month of February in each year, lay before the Board an estimate of the income and expenditure of the Board for the next ensuing | financial year. ;
(2) Every such estimate shall make provision for the due fulfilment of all the habilities of the Board and for the efficient administration . of this Act. : !
(3) Every such estimate shall differentiate capital and revenue funds, and shall be prepared in such form, and shall contain such \ details, as the Government or the Board may, from time to time, direct. f |
(4) Every such estimate shall be completed and printed and a copy thereof sent, by post or otherwise, to each Trustee at least ten clear days before the date of the meeting at which the estimate is to be laid before the Baord.

Study data processing for this section.

PDF: pending for this language.