Amendment status not verified — confirm the current text below against the official source.
Balance Sheet,— (1) The Chief Officer of a Municipality shall, within three months of the close of a year, cause to be prepared a balance sheet of the assets and liabilities of the Municipality for the preceding year. (2) The form of the balance sheet and the manner in which the balance sheet shall be prepared, shall be such, as may be prescribed. 108.Submission of financial statement and balance sheet to the Audit Authority,— The financial statement prepared under section 106 and the balance sheet of the assets and liabilities prepared under section 107 shall be placed by the Chief Officer of the Municipality before the Municipal Council or the Town Council. Who after examination of the same, shall adopt and remit these within one month to the Audit Authority provided in section 109.