Submission of budget for approval

(1) The Board shall submit its budget to the State Government for approval within such time as may be prescribed. The State Government may approve such budget as the Board may determine. (2) The State Government may return the budget to the Board for making such modifications as it thinks fit and submit to the State Government for approval as revised budget. (3) The State Government may approve the budget as submitted by the Board. (4) If the budget is approved by the State Government, the Board shall cause in the official gazette to be published and the budget shall be presented in the meeting to be persevered. (5) The Board may at any time, except any housing budget included in the budget, can make expenditure subject to approval of the State Government. (6) In each year, before the budget is approved by the State Government, any expenditure which involves an excess of 15 percent of the budget included in the Act, except with the prior approval of the State Government is involved, no such expenditure shall be made. Provided that the amount of the execution or any housing state budget approval by the State Government budget. (1) The Board shall cause to be maintained proper books of accounts and such other books as the rules may require and shall prepare in accordance with the Act an annual statement of accounts. (2) The accounts of the Board shall be audited annually by an auditor to be appointed by the State Government. (3) The said auditors shall have the right to demand the production of books, accounts, vouchers, documents and other papers, and to inspect any of the officers of the Board. (4) As soon as the accounts of the Board have been audited, the Board shall send a copy thereof to the State Government and shall also send a copy to them the auditor's report thereon. The Board shall cause the accounts to be published in the prescribed manner and copies thereof on sale at a reasonable price. (5) The Board shall comply with such directions as the State Government may, after perusal of the report of the auditor, think fit to issue.