WBBME Act 24Chapter VI · Finance and Audit

Section 24 · Annual report and budget estimate

(1)

The President shall place before the annual meeting of the Board held in the year following the year in which it is constituted and before every annual meeting thereafter a report on the working of the Board during the last preceding financial year.

(2)

The report shall be forwarded to the State Government within one month of the presentation thereof before the annual meeting of the Board together with such comments thereon as the Board may think fit to make.

(3)

(a)

The Board shall hold a special meeting by the 31st October of every financial year and the President shall place before the said meeting a budget estimate showing, in such form as may be prescribed, the anticipated income and expenditure of the Board for the next financial year.

(b)

The budget estimate as aforesaid shall, after confirmation by the Board, be forwarded to the State Government by the 30th November of the financial year in which the special meeting referred to in clause (a) is held.

(4)

(a)

The State Government shall, within two months of the receipt of the budget estimate, either accord its approval to the same or return it to the Board with such comments and suggestions as it deems necessary if, in its opinion, such estimate -

(i)is not reasonably accurate with reference to ascertainable facts or shows a deficit in the closing balance;

(ii)includes new items or recurring expenditure which are likely to impose upon the Board in the future financial liabilities which the Board is not likely to be able to meet from its income; or

(iii)includes provisions for expenditure which are not in accordance with the provisions of this Act.

(b)

If the budget estimate is returned under clause (a), the Board shall consider the comments and suggestions made by the State Government and may, if it thinks fit, revise said estimate. The Board shall, then, resubmit the budget estimate as so revised to the State Government, or the Board shall, if it does not think fit to revise the estimate, resubmit it in its original form to the State Government within one month of receiving it together with its replies on the comments and suggestions made by the State Government.

(c)

If the State Government does not approve of the budget estimate as revised by the Board or if the budget estimate is returned by the Board without revision, the State Government may amend the budget estimate by making -

(i)such modifications as are, in its opinion, necessary to render the estimate reasonably accurate with reference to ascertainable facts or to balance the income and expenditure,

(ii)additions, alterations or modifications in any provision relating to new expenditure of a recurring nature,

(iii)any alteration or modification in any provision for expenditure which, in its opinion, is not in accordance with the provisions of this Act, and shall forward the budget estimate as so amended to the Board.

(5)

If the State Government does not accord its approval to the budget estimate under clause (b) of sub-section (3) within two months of the receipt thereof, or if the State Government does not communicate its approval of the budget estimate to the Board under clause (c) of sub-section (4) within the 31st March of the financial year immediately preceding the financial year to which the budget estimate relates, the budget estimate as forwarded to the State Government by the Board under clause (b) of sub-section (3) or as resubmitted to the State Government by the Board under clause (b) of sub-section (4), as the case may be, shall be deemed to have been approved by the State Government and shall be the budget estimate of the Board for the financial year to which it relates.

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