(1)The Municipal Corporation and the Municipal Council shall, at its first meeting in each year or as soon as may be at any meeting subsequent thereto, constitute a Municipal Accounts Committee.(2)The Municipal Accounts Committee shall consist of -(a)such number of persons, not being less than three and not more than fifteen, as the State Government may determine, by notification for the municipality, to be nominated by the Council among the elected councillors not being the members of the Standing Committee from amongst themselves; and(b)such number of persons, not being the councillors, officers, or other employees of the municipality and not exceeding two in number, having knowledge and experience in financial matters, as may be nominated by the municipality:Provided that the persons nominated under clause (b) shall have no right of voting at the meeting of the Municipal Accounts Committee.(3)The members of the Municipal Accounts Committee shall elect from amongst themselves one member to be its Chairperson.(4)Subject to the other provisions of this Act, the members of the Municipal Accounts Committee shall hold office until a new committee is constituted.(5)The vacancy arising out of the submission of resignation by the Chairperson or any other member in the committee shall be filled according to subsection (2) and (3).(6)Subject to the provisions of this Act and the rules and the regulations made thereunder, it shall be the duty of the Municipal Accounts Committee -(a)to examine the accounts of the municipality showing the appropriation of sums granted by the municipality for its expenditure and the annual financial accounts of the municipality;(b)to examine and scrutinize the report on the accounts of the municipality by the auditors appointed under section 117, and to satisfy itself that the moneys shown in the accounts as having been disbursed were available for, and applicable to, the services or purposes to which they were applied or charged and that the expenditure was incurred in accordance with the authority governing such expenditure;(c)to submit report to the Standing Committee every year and from time to time on such examination and scrutiny;(d)to consider the report of the auditors in cases where the State Government or the municipality requires them to conduct a special audit of any receipt or expenditure of the municipality or to examine the accounts of stores and stocks of the municipality or to check the inventory of the properties of the municipality including its land holdings and buildings; and(e)to discharge such other functions as may be prescribed.(7)The Municipal Accounts Committee may call for any book or document if, in its opinion, such book or document is necessary for its work and may requisition such officers of the municipality, as it may consider necessary for explaining any matter in connection with its work.(8)The manner of transaction of business of the Municipal Accounts Committee shall be such as may be determined by regulation.Chapter - 15 Municipal Property
