Vacancies etc., not to invalidate acts and proceedings of the Board

No Act or proceedings of the Board shall be invalid by reason only of the existence of any vacancy amongst its members or any defect in the constitution thereof. A copy of the agenda with notes if any, shall be circulated to all members of the Board before the date fixed for the meeting except where a special meeting has been called by the President for the transaction of emergent business. 1 The Budget estimates as approved by the Board shall be submitted to the Government ordinarily by the 31st January, but in no case not later than the end of February. 2 For the purpose of sub-section (2) of section 18 of the Act, the budget sent by the Board for of the Government shall be acted upon for the budget year subject to orders of approval of the Government in case of delay in the receipt of orders before the end of March. 3 The Khadi Budget and the Village Industries Budget shall contain particulars of I. RECEIPTS : a) Receipts under, (i) receipts from departmental schemes and interest on investments, and loans and advances. ii) grant from Khadi and Village Industries Commission; iii) grant from State Government: iv) grant from other bodies : v) other Miscellaneous Receipts’ vi) Deduct : Refunds; b) Recoveries under loans and advances account: c) Loans raised by the Board : i) Loans from Khadi and Village Industries Commission; ii) Loans from State Government; iii) Other Loans d) Deposit : (i) Security deposit (ii) Other deposits II. CHARGES : Charges under (a) revenue account (b) capital account (c) loans and advance account (d) re-payments of loans raised by the Board. (e) deposits and advances 4) The receipts and expenditure of the Board shall be classified under such major, minor and subordinate heads of accounts and shall be shown under such further detailed heads of accounts again as the Board may deem necessary for purpose of administration and control. 5) The expenditure on account of “Board’s Secretariat” shall be allocated between the “Khadi Fund” and “Village Industries Fund” referred to in sub-section (1) of section 5 of the Act, in proportion to the toal expenditure incurred from each Fund at the end of the financial year, pending such allocation, the expenditure on ‘Board’s Secretariat’s shall be debited initially to “Khadi Fund” 6) The supplementary budget, if any, under sub-section (4) of section 26 of the Act shall be prepared by the Board in any financial year and forward to the Government before the 31 January of the year. 7) The Board shall be competent to incur expenditure in excess of the third of the limit provided in the budget approved by the Government under any head of expenditure or in connection with any particular schemes so long as, the aggregate amount in either budget approved by the Government is not exceeded. 1. The Board shall maintain proper accounts of its receipts and charges. The Board classification of receipts and charges of the Board shall be maintained as indicated below: Deposits of Local Funds – Other Funds – Other Miscellaneous Funds – Tamil Nadu State Khadi and Village Industries Board Funds (1) Khadi Fund Development of Khadi Industry”. RECEIPTS : (a) Revenue Account (i) Receipts from the Khadi Schemes. (ii) Grant from Khadi and Village Industries Commission (iii) Grant from State Government (iv) Grant from other bodies. (v) Interest and other miscellaneous receipts. (vi) Deduct refunds (b) Loans and Advances Account : (i) Recoveries of loans and advances from Co-operatives, registered, institutions, Local bodies, etc. (ii) Recovery of loans and advances from Board’s Servants: (c) Board’s debt account : (i) Loans and advances from Khadi and Village (ii) Loans and advances from State Government: (iii) Other Loans (d) Deposit Account: General Provident Fund, Security Deposit ; etc. CHARGES : (a) Revenue account (b) Capital account. (c) Loans and Advances by the State Board. (1) The Audit of the accounts of the Board shall be conducted by the Accountant General, Madras. (2) The Accountant General, in connection with the audit of the accounts of the Board, shall have the same rights, privileges and authority in connection with such audit as the controller and auditor General has in connection with the audit of the Government accounts and in particular shall have the right to demand the production of books, accounts vouchers and other documents and inspect any of the officers of the Board and also the accounts of any body or institution which is in receipt of any grant-in-aid from the Board. (3) The auditor shall certify the correctness of statement and accounts prepared in accordance with sub rule (2) of rule 5. (4) The auditor shall prepare an abstract of the audited accounts (receipts, charges and balance sheet) and submit to the Government two copies thereof with the audit report. (5) The auditor shall furnish the Board and the Government with a report whenever he observes any material impropriety or irregularity in the incurring of any expenditure in the recovery of moneys or in the maintenance of accounts including stock accounts. The Board shall forth with the remedy and defect or irregularity that may be pointed out by the Auditor and shall report to the Government the action taken by it there on within a reasonable time of the receipt of the report of the Auditor. Provided that if there is any difference of opinion between the Board and the auditor or if the Board does not remedy any defect irregularity with a reasonable period or render satisfactory explanation in regard to the defect or irregularity, the Government, on a reference specifically made there for by auditor shall pass such orders there on as they may deem fit and the Board shall there after take action in accordance there within such time as may be specified by the Government. (6) The accounts of the Board as certified by the Auditor and the Audit Report there on shall be forwarded by the Board annually to the Government before the 1st October of the following year. Provided the Government may give such further extension of time as they may consider necessary for any reasons. Such certified account and audit report furnished by the Auditor to the Board shall as soon as possible, after they are so furnished, be forwarded to Government for being placed on the table of both the Housed of Legislature. (7) The Board may appoint such staff as required for the conduct of the internal audit of all the transaction of the Board in consultation with the Government.