Amendment status not verified — confirm the current text below against the official source.
Budget.-- (1) The Chief Officer shall each year on or before the 31st day of December prepare and place before the Standing Committee--- > -. . - + . ? , (i) a etatement shawing the income and expenditure of the Cowncil for the previous financial yea$: _ K .-_ - --- s ; .+?a - f> k i d . ~ ~ z j . 2 d: . (ii 1'stateraent showing the indome and expenditure of the Counoil from the 1st day of A ~ r i l to the 31th day sf November of the financial year then current and an estimate of ,the income expenditure for the remaining . portion of the current year; e- , - ? ' s . 3 * < , ~ tiii) an estimate of the income and - expenditure of the Council during the ensuing .Ik . . . financial.year and an estimate of the closing , . . . % * . balance in the municipal fund at the end of . rr , the current year; I < . *... " * . - 4 S T Ivi 1 proposals for -any change in the taxes, fees or other charges to be levied for k r t k , , ,! the ensuing year. 1 P a. q . ( 2 ) ,Such statements and estimates ,shall be prepared under suah heads of accounts and in such form a@ may be prescribed by Government. b,.t 1 ! -- .. ( 3) he Standing ~okaittee shall' consider the estimates and the proposals of the Chief Officer and submit them to the Council with such recommendations as it may deem fit to make, before the,3lst day of January : .n:* C ~ M W Y r Y 51 provided td$: if ;he Standing Committee fails> to make it recommandations before the 31st day of; January, the President shall place the atatemente. and, estimates before the Council without the recommendations of the Standing Committee. ( 4 ) The Council ahall consider the estimates prepared by the Chief Officer ,and the recommendations 'of the Standing Committe, if any, and adopt the budget estimates with or without modifications not, later than the last day of February: Provided that when a Council is indebted to Government, the budget of the Council shall be adopted only with the previous sanction of the Director: Provided further that nothing in the first proviso shall be deemed to prevent the Council during the first quarter of the financial year or till the budget is sanctioned, whichever is earlier, from paying from its municipal fund, cost of the sanctioned establishment and contingencies. ( 5 ) No budget shall be approved by the Council unless provision is made therein --- (a) for the payment as they fall due of all sums and of all instalments of principal and interest for which the Council may be liable under this Regulation or any other law for the time being in force; (b) for the payment of contributions to the special funds constituted under this Regulation such as the Salary Reserve Fund; (ci for the payment of salaries and allowances of the officers and servants of the Council; (d) for a minimum cash balance at the end of the year (exclusive of the balance, if any, in any statutory fund) of such amount as may be prescribed by rules made by the Government. ( 6 ) The budget so sanctioned may be varied or altered .by the Council, from time to time, as circumstances may render desirable: Provided that the Standing Committee or any other Committee appointed under this Regulation may within the budget so sanctioned, sanction reappropriations not exceeding such limits as may in respect of each class of Council be prescribed by rules, from one sub-head to another or from one minor head to another under the same major head and controlled by the same Committee. A statement of such reappropriations shall be submitted to the Council at its next meeting: Provided further that no such reappropritation shall be done from the amounts earmarked towards the repayment of any loan and .interest thereon and towards coritributron to any fund or funds constituted under the provisions of this Act. 1 7 ) (a) Save in an.emergency, no sum shall be expended by or on behalf of any Council unless such sum is included in the budget for the time being in force. (b) If any sum whiah is not so included in the budget, is expended in an emergency, the circumstances in which such sum was expended shall forthwith be reported by the President to the Council and the Director, with an explanation of the way in which. it is proposed to cover auch extra expenditure.