Insertion of new sections 81A to 81C

Insertion of new sections 81A to 81C.- After section 81 of the principal Act, the following sections shall be inserted, namely;-

"81A. Audit.-

1. (1) The Board shall keep regular accounts of all receipts in and disbursements from the Fund.
2. (2) The accounts of the Board shall be audited annually.
3. (3) The audit shall be conducted by the Director of Local Fund Audit in accordance with the provisions contained in the Kerala Local Fund Audit Act, 1994 (14 of 1994). 81B. Deposit and investment of funds.- Subject to the provisions of this Act, the Board may deposit its funds in any Nationalized Bank, Co-operative Bank or Government Treasury or invest the same in any security of the State Government or the Government of India. 81C. Budget and Administration Report. -
4. (1) The Board shall, in each year prepare a Budget for the next financial year before the expiry of three months of the preceding financial year showing the probable receipts and disbursements of the temples, institutions and endowments under the management of the Board during the financial year.
5. (2) The Board shall within two months after the expiry of each financial year prepare an annual administration report for that year and submit within one month thereafter to the Government such number of copies thereof, as the Government may direct.
6. (3) The Government shall place the Administration Report before the Legislative Assembly within one month from the date of its receipt.".