Amendment status not verified — confirm the current text below against the official source.
(1) The Corporation shall, by such date in each financial year as may be prescribed, prepare and submit to the State Government for approval an annual financial statement and the programme of work for the succeeding financial year and the State Government may, approve such financial statement and the programme of work of the Government as Guarantor. Disposal of profits and deficits. Interest charges and other expenses to be added to and receipts taken for reduction of capital cost. Depreciation Fund. Apportionment of, betterment charges levied by State Government. Financial Statement and Programme of work. 24 [Act No.12 of 1997] Corporation as submitted by the Corporation or with such variations as the State Government thinks fit. (2) The annual financial statement shall show the estimated receipts and expenditure during the succeeding financial year in such form and, detail as may be prescribed. (3) The Corporation shall be competent to make variations in the approved programme of work in the course of the financial year provided that all such variations and reappropriations out of the sanctioned budget are brought to the notice of the State Government by a supplementary financial statement. (4) A copy of the annual financial statement and the supplementary financial statement, if any, shall be placed before the State Legislature as soon as may be after their receipt by the State Government.