Balance-sheet

Balance-sheet:

1. (1) Every Municipality shall cause to be prepared annually a balance-sheet of assets and liabilities in the prescribed form within six months of the close of a year.
2. (2) The balance-sheet shall be placed before a meeting of the Board of Councillors.
3. (3) A copy of the balance-sheet shall be given to the Director of Local Bodies of the Government of Mizoram.
4. (4) Notwithstanding anything contained in the foregoing provisions of this section, the State Government may, on the prayer of a Municipality, extend the date of preparation and presentation of the balance-sheet of a Municipality for reasons to be recorded in writing.