(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 'O'.

(2)

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

(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 the Parliament.