Chapter XII Funds, Accounts and Audit

1. (1) Subject to the provisions of this Act, a Regional Development Authority may create such funds for such purposes as it may determine from time to time, to which, shall be credited all moneys received by it, including, -
   • (a) contribution to be made by the State Government in the first instance of a sum equivalent to rupees five crore towards a revolving fund to be established by every Regional Development Authority under this Act;
   • (b) all moneys received from the Central Government, State Government, or any other person by way of grants, donations, loans, advances or otherwise;
   • (c) all fees and user charges received by the Regional Development Authority under this Act; and
   • (d) all moneys received by the Regional Development Authority towards lease, premium or cost of land and/or building.
2. (2) The fund shall be applied towards meeting the expenses incurred by the Regional Development Authority in performing its functions and for administration of the provisions of this Act.

1. (1) The accounts of the Regional Development Authority shall be prepared and maintained in such form and in such manner as may be prescribed by the rules.
2. (2) The Accounts of every Regional Development Authority shall be subject to audit by the Director Local Fund Audit in accordance with the provisions of the Rajasthan Local Fund Audit Act, 1954 (Act No. 28 of 1954) or in the manner as may be prescribed by the rules.
3. (3) The Regional Development Authorities shall pay from their funds the charges for their respective audit as may be prescribed by the rules.

1. (1) Subject to approval of the State Government, a Regional Development Authority may borrow and raise loans from any source including by issue of bonds, debentures and other instruments for carrying out the purpose of this Act or for servicing any loan obtained by it, upto such limits and on such rates and other conditions as the State Government may specify.
2. (2) The Regional Development Authority shall maintain a sinking fund for the repayment of money borrowed and shall pay every year into the sinking fund such sum as may be sufficient for repayment within the period fixed for all moneys so borrowed.
3. (3) The sinking fund or any part thereof shall be applied in, or towards, the repayment of the loan for which such fund was created and until such loan is wholly repaid, it shall not be applied for any other purpose.

A Regional Development Authority may give loans to or share expenses with any person for any project, including an infrastructure project, subject to such limitations and conditions as the State Government may, from time to time, specify.

1. (1) A Regional Development Authority shall cause to be prepared, every year, in such form and at such time as may be laid down in the regulations, an annual budget estimate in respect of the financial year next ensuing, showing the estimated receipt and expenditure of the Regional Development Authority and shall submit it to the Board for its approval.
2. (2) A Regional Development Authority shall forward to the State Government copies of the budget approved by the Board.

A Regional Development Authority shall, at the end of each financial year, prepare an annual report giving a true and full account of its activities during the previous financial year and submit it to the Board and the State Government.

The State Government shall cause to be laid before the House of the State Legislature as soon as may be after their receipt, -

1. (a) the statement of accounts of every Regional Development Authority; and
2. (b) the annual report of every Regional Development Authority.