Amendment status not verified — confirm the current text below against the official source.
(1) The Board shall in respect of each financial year prepare a statement of the estimated receipts and expenditure of the Board for that year, in the form of an annual financial statement, the board may also prepare supplementary financial statements during the course of the financial year as may be necessary. (2) The annual financial statement and supplementary financial statement prepared by the Board under this section shall be submitted to the State Government by such time as may be prescribed by the state Government. (a) The State Government shall sanction the annual budget or supplementary demand wholly or in amended form as it may deem fit; (b) The Board shall use the annual budget or supplementary demand sanctioned by the State Government in the year for which it has been sanctioned. (3) The State Government shall from time to time provide to the Board for purposed of this Act such amounts as may be deemed necessary for each financial year by way of grants –in- aid, loans, etc. (4) The Board may, within the limits of the annual financial statement or the supplementary financial statement sanction re-appropriation from one head of expenditure to another, subject to such general or specific guidelines as may be issued by the State Government and for the payment of salary etc. to the then Government servants of the Tourism Department regular budgetary provision shall continue to be made by the Government in suitable standard heads under non-plan head to enable these Government servants to draw their regular salary through integrated pay disbursement system prevalent in the Government Treasuries. 1