Estimates of income and expenditure of Board to be laid annually and considered

Infrastructure197676 sections11 chapters

Chapter VIII Chapter VIII

Statutory text

(1) The Chairman shall, at a special meeting of the Board 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 financial year.
(2) Every such estimate shall make provision for the due fulfilment of all the liabilities 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 Board, may from time to time, specify.
(4) Every such estimate shall be compiled and copy thereof sent, by post or otherwise, to each member and Associate Director at least ten clear days before the date of the meeting at which the estimate is to be laid before the Board.
(5) A revised estimate, if any including all the expenditure not covered in the original budget estimate shall be laid before the Board at a special meeting to be held in the month of December in each year.
(6) The Board shall consider every estimate so laid before it and shall sanction the same, either without modifications or with such modifications as it may think fit.

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