Chapter VI FINANCE, BUDGET AND ACCOUNTS

Notwithstanding anything contained in the relevant law or any other law for the time being in force, the urban local authority shall create a separate fund to be called the Tree Authority Fund, to which shall be credited all moneys received by the Tree Authority including- 1[(a) a contribution by the urban local authority from its income from such taxes as may be prescribed or when such taxes are not levied by the Authority, from its income from the betterment charges, if any, levied by it under the relevant Act or from the income derived by it from the sale of plots made by it under the relevant Act. The rates of the contribution shall be such as may be specified by the State Government, from time to time, by a general or special order;]

1. (b) all moneys raised by levy of a cess under Chapter VII;
2. (c) any grants made by the State Government to the Tree Authority;
3. (d) any moneys received by the Tree Authority as donations from any individuals, or corporate bodies or institutions; 2[(e) any other money received under the Act : Provided that, if the total receipts of the Tree Authority from all the sources specified above are less than one half per cent. of the total receipts of the urban local authority, then, the urban local authority shall credit the deficit to the Tree Authority Fund at the end of each financial year.]

Every Tree Authority shall, on or before the 31st day of October every year, prepare in such form as the urban local authority may prescribe, an annual budget estimate in respect of the ensuing financial year of the estimated income and expenditure of the Tree Authority and shall, notwithstanding anything contained in the relevant law, submit it to the urban local authority for approval and inclusion in the budget estimate of that authority

The procedure applicable under the relevant law for maintenance and audit of accounts of the urban local authority shall mutatis mutandis apply to the maintenance and audit of the accounts of every Tree Authority.