Chapter IV FUNDS, BUDGET, ACCOUNTS AND AUDIT

The State Government may, after due appropriation made by the State Legislature by law in this behalf, pay to the Development Authority in each financial year by way of grants from the Consolidated Fund of the State, such sums of money as it may deem fit for being utilized for the purposes of this Act.

1. (1) The Development Authority shall prepare its budget for the ensuing financial year and shall submit the same to the State Government, by such date and in such form as may be prescribed.
2. (2) The Development Authority shall open a Personal Ledger Account (PLA) in the Government Treasury at Solapur, which shall be operated under the name of the Member-Secretary of the Development Authority.
3. (3) The procedure for incurring expenditure and utilisation of grants for the development works under this Act shall be as per the relevant financial rules of the State Government and it shall be the responsibility of the concerned Government and Semi-Government Agencies to maintain proper record of each of such works, to submit utilisation certificate to the Development Authority periodically, as the State Government may specify for the purpose and to make available records for audit, as and when necessary.
4. (4) The Accounts of the Development Authority and of the Government and Semi-Government Agencies in respect of the expenditure incurred under the provisions of this Act shall be audited by the auditors of the Local Fund Audit or the Accountant General, as the State Government may, by notification in the Official Gazette, specify.

The Development Authority shall prepare once every year, in such form and at such time, as may be prescribed, its annual report, giving a summary of its activities during the previous financial year and forward a copy thereof to the State Government.

The Development Authority shall furnish to the State Government such information relating to its activities, as the State Government may, by order, require.