(1)

The Authority shall maintain proper accounts of its funds and other relevant records. At the end of each financial year, the Authority shall prepare a budget and an annual statement of accounts. The annual statement of accounts shall be prepared in Form-P.

(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 prepared under sub-rule (1) shall be signed by the Chairperson, Members, Secretary and the Officer in-charge of Finance and Accounts.