Financial Assessment

(1) The Chief Executive Officer of the council shall prepare the financial assessment for the financial year as per procedure, which may be prescribed, and shall present the same in the meeting of the council. He shall, after the approval of the council, submit the financial assessment to the State Government for income and expenditure administration. (2) The State Government may approve the financial assessment with such alteration as it may deem fit and no other expenditure except approved in the financial assessment by the State Government, shall be incurred by the council