Chapter IX FINANCE, ACCOUNTS AND AUDIT

1. (1) Every planning authority shall havc and maintain its own Fund to which shall be credited -
   • (a) all moneys received by the planning authority from the Government by way of grants, loans, advances or otherwise ;
   • (b) all dcvclop~nent charges or other charges or fees received by the planning authority undcr this Act or rules or regulations thereunder ;
   • (c) all moneys reccivcd by the planning authority from any orher source.
2. (2) The Fund shall be applied rowards meeting -
   • (a) the expenditire incurred in che administration of this Act ;
   • (b) the cos~ of acquisition of land in the planning area for purposcs of development ;
   • (c) the espenditurc For any develop~~lent of land in the pln~lning ar-c;i 111id
   • (d) thc cxpcndirtire lor such ocher purposes as the State Government mily tliiqec t.
3. (3) Every planning autllol-ity may keep in current account of the State Bank of India or any othcr bi~tlk approved by the State Government in this bchnlf such sun1 of tnollcy out of its i'i~nds as may be prescribed by [he rules and any moncy in exccss of the said sun1 shall be invested in such manner as may be approved by the State Governmenl.
4. (4) The State Goveinnmenr may makc such grants, advanccs and loilns ~o ii~y planning ai~tho~-ity as ir may decm ncccssar-y for loans and ndvnl~ccs ~nnrle shall be on such terms ancl conditions as thc statc Govcrnmcnt may determine.

Ellcry plan~~ing authority sl-tidl prepare in such form and a1 such time cvc1.y ycar as may hc prcsct-ihed by [he rules. a budget in respeci or the tinallcia1 ycal- ncxt ensuing, showing rhe es~imated I-eceipts and expendirure of thc planning autliol-ity and shall forward LO [he Sme govern men^ and ttic Board such uumber of copies lhereof as may be prescribed by the rules.

1. (1) Every planning authority shall maintain proper accounts and other relevant records and prepare an annual statement of accounts including the balance sheet in such form as the State Government may by rules prescribe.
2. (2) The accounts of every planning authority shall be subject to audit annually by the Accountant General of the State and any expenditure incurred by him in connection with such audit shall be payable by the planning authority to the Accountant General.
3. (3) The Accountant General or any person appointed by him in connection with the audit of accounts of the planning authority shall have the same right, privilege and authority in connection with such audit as the Accountant General has in connection with the Government accounts and in particular shall have the right to demand the production of books, accounts, connected vouchers and other documents and papers and to inspect the office of the planning authority.
4. (4) The accounts of every planning authority as certified by the Accountant General or any other person appointed by him in this behalf together with the audit report thereon shall be forwarded annually to the State Government and the Board.

1. (1) The Board shall prepare for every year a report on its activities during that year and submit the report to the State Government in such form and on or before such day as may be prescribed by the rules and the Government shall cause a copy of the report to be laid before the State Legislature.
2. (2) Every planning authority shall prepare for every year a report of its activities during that year and submit the report to the State Government and the Board in such form on or before such date as may be prescribed by the rules.

1. (1) Every planning authority shall constitute for the benefit of its whole time paid members and of its officers and other employees, in such manner and subject to such conditions as may be prescribed by the rules, such pension and provident funds as it may deem fit.
2. (2) Where any such pension or provident fund has been constituted, the State Government may declare that the provisions of the Provident Funds Act, 1925, shall apply to such fund as if it were a Government Provident Fund.