Amendment status not verified — confirm the current text below against the official source.
Budget:- (1) The Authority shall prepare a budget every year in respect of the financial year next ensuring, showing the estimated receipts and expenditures of the Authority and shall forward to the State government such number of copies thereof as may be prescribed by Rules and the State Government may issue any directive as may be considered expenditure for the purpose of this Act. (2) The Authority shall maintain proper account and other relevant records and prepare an annual statement of accounts including a balance sheet. (3) The accounts of the Authority shall be subject to audit annually by the Accountant General, Bihar and any expenditure incurred by him in connection with such audit will by payable the Authority to the Accountant General, Bihar. The Accountant General shall have the privileges and authority in connection with audit of the accounts of the Authority as he is entitled to in connection with audit of the Government accounts. (4) The accounts of the Authority as certified by Accountant General, Bihar, or any other person appointed by him in this behalf together with the audit report shall be forwarded every year to the State Government along with an annual report. CHAPTER IV