Rule 48 - Budget accounts and audit

(1) At the end of the financial year of every year, the Authority shall prepare a budget, maintain proper accounts and other relevant records and prepare an annual statement of accounts in Form–‘S’

(2) The Authority shall preserve the accounts and other relevant records prepared under sub-rule (1) for a minimum period of fiveyears

(3) The accounts and other relevant records under sub-rule (1) shall be signed by the Chairperson, Members, Secretary and the officer in-charge of Finance and Accounts

(4) The accounts of the Authority and the audit report shall, as soon as possible, be submitted to the appropriate Government for laying before theParliament