Amendment status not verified — confirm the current text below against the official source.
Estimates of income and expenditure to be prepared annually by Commissioner.- (1) The Commissioner shall, on or before the 30th day of November, each year, have prepared and lay before the Mayor-in-Council in such form as the Committee shall from time to time approve. (a) an estimate of the expenditure which must or should, in his opinion, be incurred by the Corporation in the next financial year from the Municipal Fund including:- Madhya Pradesh Municipal Corporation Act, 1956 50 | P a g e (i) the repayment of all loans or installments thereof with interest thereon which fall do during the financial year. (ii) the discharge of liabilities imposed on the corporation by sub-section(1) of section 3, (iii) cash balance at the end of the said year of not less than such sum as may be prescribed by the Government. (iv) the amounts, if any, which should in his opinion be credited to or expended from special fund. (b) an estimate of all balance, if any, which will be available for appropriation or expenditure at the commencement of the next financial year. (c) an estimate of the Corporations receipts and income for the next financial year other than from taxation. (d) an estimate of the receipt existing taxation. (e) a statement of proposals as to the taxation which it will, in his opinion be necessary or expedient to impose under the provisions of this act in the next financial year and an estimate of the receipt from such taxation. Explanation.- The balance, if any available in any special fund shall not be deemed to the available for re appropriation or expenditure at the commencement of the next financial year under clause(b) except in relation to expenditure which may be met from such fund under the bye-laws and the Commissioner may determine whether the whole or any part of such balance shall be taken into account as available for such expenditure at the commencement of the next financial year. (2) The Mayor-in-Council shall, on or as soon as may be after the 30th day of November, consider the Budget estimate prepared by the Commissioner and made such modification and additions thereto as it shall think fit and submit the same to the Corporation not later than the 15th day of January.