Amendment status not verified — confirm the current text below against the official source.
(1) The Authority shall maintain true and proper accounts and other relevant records and prepare an annual statement and a balance sheet containing accounts of income and expenditure in such form and in such manner as may be prescribed. (2) The accounts of the Authority shall be inspected and audited in accordance with the provisions of the Kerala Local Fund Audit Act, 1994 (14 of 1994). (3) The accounts of the Authority as audited and certified together with the audit report thereon shall be forwarded annually to the Government and the Government shall, as early as possible cause the same to be laid before the Legislative Assembly.