Finance, Accounts and Audit

1. (1) Every Regional Development Authority shall have and maintain its own fund to which shall be credited ,-
   • (a) all moneys received by the Regional Development Authority from the Government by way of grants, loans, advances or otherwise;
   • (b) all moneys borrowed by the Regional Development Authority from sources other than the Government by way of loans or debentures;
   • (c) all fees, tolls and charges received by the Regional Development Authority under this Act;
   • (d) all moneys received by the Regional Development Authority from the disposal of lands, buildings and other properties, movable and immovable; and
   • (e) all moneys received by the Regional Development Authority by way of rents and profits or in any other manner or from any other source.
2. (2) The fund shall be applied towards meeting the expenses incurred by the Regional Development Authority in the administration of this Act and for no other purpose.
3. (3) Subject to any directions of the Government, the Regional Development Authority may keep in current account of any Scheduled Bank such sum of money out of its fund as it may think necessary for meeting its expected current requirements and invest any surplus money in such manner as it thinks fit.
4. (4) The Government may, after due appropriation made by Legislature by law in that behalf, make such grants, advances and loans to the Regional Development Authority as the Government may deem necessary for the performance of the functions of the Regional Development Authority under this Act and all grants, loans and advances made shall be on such terms and conditions as the Government may determine.
5. (5) The Regional Development Authority may borrow money by way of loans or debentures from such sources (other than the State Government) and on such terms and conditions as may be approved by the Government.
6. (6) The Regional Development Authority shall maintain a sinking fund for the repayment of moneys borrowed under sub-section (5) and shall pay every year into the sinking fund such sum as may be sufficient for repayment within the period fixed of all moneys so borrowed.
7. (7) The sinking fund or any part thereof shall be applied in, or towards, the discharge of the loan for which such fund was created, and until such loan is wholly discharged it shall not be applied for any other purpose.

The Regional Development Authority shall prepare in such form and at such time every year, as the Government may prescribe, a budget in respect of the financial year next ensuing, showing the estimated receipts, and expenditure of the Regional Development Authority.

1. (1) Every Regional Development 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 Government may prescribe.
2. (2) The accounts of every Regional Development Authority shall be subject to audit annually by the Examiner, Local Fund Accounts : Provided that in place of or in addition to the Examiner, Local Fund Accounts, the Government may entrust the audit to the Accountant General, Uttar Pradesh or Comptroller and Auditor General of India or to any other Auditor on such terms and conditions, in such manner, for such period and at such times as may be agreed upon between him and the Government.
3. (3) The rights, authority and privileges of any person conducting audit under subsection (2) shall,-
   • (a) in the case of Examiner, Local Fund Accounts, be the same as he has in connection with the audit of the accounts of local authority;
   • (b) in the case of the Accountant General, Uttar Pradesh or as the case may be, the Comptroller and Auditor General of India, be the same as he has in connection with the audit of Government accounts, and @(c) in the case of any other auditor, be as prescribed; and, in particular, he shall have the right to demand production of books, accounts, connected vouchers, papers and other documents and to inspect the office of the Regional Development Authority.
4. (4) The accounts of the Regional Development Authority, as certified by the Auditor or any person appointed by him in that behalf, together with audit report thereon shall be forwarded to the Government annually or at such times as may be directed by it. The Government may issue such directions to the Regional Development Authority as it may deem fit and the Regional Development Authority shall be bound to comply with such directions.
5. (5) Any expenditure, incurred by the Auditor in connection with the audit shall be payable by the Regional Development Authority to the auditor.

The Regional Development Authority shall prepare for every year a report of its activities during that year and submit the report to the Government in such form and on or before such date as the Government may prescribe and such report shall be laid before both the Houses of the State Legislature.

1. (1) The Regional Development Authority may 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 the Government may specify, such pension or provident funds as it may deem fit.
2. (2) Where any such person or provident fund has been constituted, the Government may declare that the provisions of the Provident Funds Act, 1925 (Act no. 19 of 1925) shall apply to such fund as if it were Government Provident Fund.

The Authority shall be competent to give grants, advances or loans to, or to share expenses with, any local authority or other authority in the State Capital region, for any of the purposes of section 12, and notwithstanding anything contained in any law of the State of Uttar Pradesh for the time being in force, but subject to the restrictions, if any, contained therein, it shall be lawful for such other authority to accept such grants, advances or loans or share in the expenses, subject to such terms and conditions as the Authority may, from time to time, in consultation with such other authority, specify.

The Government may guarantee repayment of the principal of, and interest on, any loan raised or given by the Authority or transferred to it for the purposes of this Act, subject to such conditions as the Government may think fit to impose.