Amendment status not verified — confirm the current text below against the official source.
Annual examination of sinking funds.-( I) The Examiner of Local Fund Accounts, Kerala, shall examme the said sinking funds every year and ascertain whether the cash and the current value of the securities at cred1t of such funds are actually equal to the amount wh1ch would have accumulated had mvestments been regularly made and had the rate of interest as originally estimated been obtamed therefrom. (2) The Board shall forthw1th pay into any sinkmg fund any amount which the Examiner of Local Fund Accounts may certify to be the deficiency therein after examination as aforesaid, unless the Govern- ment specially sanction a gradual readjustment. 107 Estimates of income and expendtture to be laid annualry before tM Board.-(!) The Chairman shall, at a special meetmg to be held in the month of February in each year, lay before the Board an estimate of the income and expenditure of the Board for the next ensuing financial year. (2) Every such estimate shall make provis10n for the due fulfilment of all the hab1hties of the Board and for the efficient administration of this Act. (3) Every such estimate shall d1fferentiate cap1tal and revenue funds, and shall be prepared in such form, and shall contain such details, as the Government or the Board may, from time to time, direct . 47 (4) Every such estimate shall be completed and printed and a copy thereof sent, by post or otherwise, to each Truste~ at least ten clear days before the date of the meetmg at which the estimate is to be laid before the Baord.