(1)For every Panchayati Raj Institution, there shall be constituted a fund bearing the name of the concerned Panchayati Raj Institution and there shall be placed to the credit thereof:(a)contributions and grants, if any, made by the Central or the State Government including such part of the land revenue collected in the State as may be determined by the Government;(b)share of taxes or other revenues as approved by the State Finance Commission;(c)contribution and grants, if any, made by any local authority;(d)loan, if any granted by the Central or the State Government or raised by the Panchayati Raj Institution concerned;(e)all receipts on account of tolls, taxes and fees levied by the concerned Panchayati Raj Institution;(f)all receipts in respect of any school, hospitals, dispensaries, buildings institutions or works vested in, constructed by or placed under the control and management of the concerned Panchayati Raj Institution;(g)all sums received as gift or contribution and all income from any trust or endowment made in favour of the concerned Panchayati Raj Institution;(h)all fines or penalties imposed and realised under the provisions of this Act or of the bye-laws, made there under; and(i)all other sums receive by or on behalf of the concerned Panchayati Raj Institution.(2)Every Panchayati Raj Institution shall set apart and apply annually such sums as may be required to meet the cost of its own administration including the payment of salary, allowance, provident fund and gratuity to the officers and employees. The total expenditure on establishment shall not exceed thirty percent of the total expenditure of the concerned Panchayati Raj Institution :Provided that repayment of loans shall be provided of the Panchayati Raj Institution concerned it in Annual Budged estimates.[Provided further that the ceiling of thirty percent expenditure on establishment may be relaxed by the State Government in specific schemes or programmes.][Inserted w.e.f. 26.7.1994 by Section 5 of the Rajasthan Act No. 23 of 1994.](3)A Panchayati Raj Institution shall power to spend such sums as it thinks fit for carrying out the purpose of this Act and may determine the amount of imprest to be kept to defray current expenses.(4)[ The Panchayati Raj Institution Fund shall be vested in the concerned Panchayati Raj Institution and the balance of the credit of the Fund shall be kept in personal deposit account in the nearest Treasury/Sub treasury, Post office or branch of any scheduled Bank.][Substituted by Section 44 of the Rajasthan Panchayati Raj (Amendment) Act, 2000 published in Rajasthan Gazette Extraordinary Part IV-A dated 3.5.2000 with immediate effect.](5)Subject to such general control as the Panchayat Samiti or Zila Parishad may exercise from time to time all order and cheques for payments from the Panchayat Samiti or Zila Parishad Funds, shall be signed by the Vikas Adhikari or Chief Executive Officer respectively and in his absence by an officer authorised by the Panchayat Samiti of Zila ParishadProvided that all such order and cheques of Panchayat or Zila Parishad for an amount exceeding Rs. 20,000. - shall be countersigned by the Pradhan or Pramukh as the case may be and, in the case of a Panchayat all withdrawals will be with joint signatures of Sarpanch and Secretary.
