Chapter IV FINANCE, ACCOUNT, AUDIT AND REPORT

Grants by the Government-

1. (1) The Commission shall have its own fund in form of grant-in-aid received from the State Government through its Nodal Department i.e Sports & Youth Services Department and all receipts by the Commission shall be credited thereto and all payments by the Commission shall be met therefrom.
2. (2) The Government shall make available to the Commission, by way of grant, from the Consolidated Fund of the State such sum of money as it may think sufficient for carrying out the purpose of this Act.

Accounts and Audit-

1. (1) The Commission shall maintain proper accounts and other relevant records and prepare annual Statement of Accounts in such form as may be prescribed.
2. (2) The accounts of the Commission shall be audited by such authority as may be prescribed.

Annual Report- The Commission shall, as soon as may be, after the end of each financial year, prepare, in such form and at such time, for each financial year, as may be prescribed, its annual report giving a full account of its activities, financial position and programmes undertaken during the previous financial year and submit a copy thereof to the Government.

Annual report and audit report to be laid before State Legislature- The Government shall cause the annual report together with a memorandum of action taken on the advice tendered by the Commission under section 9 and the reasons for non-acceptance, if any, of any such advice, and the audit report to be laid as soon as may be after they are received, before the Legislative Assembly of Mizoram.