Amendment status not verified — confirm the current text below against the official source.
Lltilization of the Fund - The Fund shall be utilised for the - (i) development of State roads, (;i) disbursetnent in respect of such projects of State road development, ac tnay be prescribed (iii) The Governing Body may invest any sum not required fbr immediate use in such manners as prescribed. 9" Accounts and Audit - (i) The concerned governrnent departments / agencies shall cause to maintain such book of accounts and other relevant records and prepare an annual statement of accounts, including the profit and loss account and the balance slreet in respect of allocations of their shares out of the fund. (ii) The accounts of the Fund shall be audited by the Cornptroller zurd Auditor General of India and Accountant General "lharkhand at such intervals as may be specified by him. 11 12 glrcru-s rrse (3{iHlErrqur), Yfft-qr{ 28 q{. 2a11 CHAPTER IV MANAGEMENT ()F STATE ROAD DEVELOPIUENT FUND I0. Powers of the state Governnrent to administer the Fund -- (i) T6e State Government shall have the power to admrnister the Funcl and shall - (a) take such decisions regarding investment on pro.iects of State road Developrnent a-s it considers necessary" (b) take such measures as may be necessary to raise funds for the developrnent of State roads; (c) allocate and disburse suclr funds as it considers necessary to tlre elepirtnrent / agency responsible for the development of State roads. (ii) (a) 'I'he State Governnrent may constitute a Goveruittg Bocly * ,ouy be prescribed for the management oI'the lttlnd. (b)TheGor,erningBodyconstitutedunderclause(a)shall exercise suclr powers and drscharge such functions, as may be prcscribed' I I. F'unctions of the State Government - The State Government slrall be responsible for the - (i) administration and management of the Fund' (ii) " co-6rdinatio1, cornpletion and timely utilization of all surns alk:cated out of the Fund; (iii) sanction of schemes for development of State Roads in such manner, as may be Prescribed; (iv) formulation of criteria on the basis of which the specific pro;."i, of development of State Roads shall be approved and financed out ofthe Fund; and (v) release of funds to department or organrizations for specific proj".ir'oF state roads developmerit and monitorirrg of such projects and the expenditure incurred thereon' sTyGFrc rr$r€ (3r{31Enqtry). YrFrqrq 28 T{. 2011 CIIAPTER V MISCELLANEOUS