(1) Every board shall have prepared, and laid before it, at a meeting to be held in every year before such date as is fixed by rule in this behalf, a complete account of the actual and expected receipts sand expenditure for the year ending on the thirty-first day of March next following such date together with a budget estimate of the income and expenditure of the board for the year commencing on the first day of April next following.
(2) Subject to the provisions of section 102 the board shall at such meeting decide upon the appropriations and the ways and means contained in the budget estimate and by special resolution, sanction a budget, which shall be submitted to the 1[State Government] or to such officers as the 1[State Government] by order directs in this behalf.
(3) Subject to the like revisions the board may vary or alter form time to time as circumstances may render desirable, by special resolution, the budget sanctioned under sub-section (2).
Footnotes in the official text
- 1.Subs. by A. O. 1950 for (Provl. Govt.), which had been Subs. by the A. O. 1937 for (L.G.).