Amendment status not verified — confirm the current text below against the official source.
Preparation of Budget Estimate: (1) The Chief Executive Officer! Executive Officer of Municipality shall prepare in each year a budget estimate along with an establishment schedule of the Municipality for ensuing year, which shall be an estimate of the income and expenditure of the Municipality. (2) The Chief Executive Officer! Executive Officer of the Municipality shall place before Municipal Council or Town Council as the case may be, not later than the fifteenth day of January in each year, the Budget Estimate prepared under sub- section(l) along with a copy of the Establishment Schedule of the Municipality. (3) The Budget Estimate and the Establishment Schedule shall be prepared in such form, in such manner and containing such particulars as may be prescribed. (4) The statement referred to in sub-section (2) of section 123 shall be with the budget estimate.