(1)The Budget to be prepared by the Standing Committee of each Municipality under section 286 shall be prepared and submitted before the Council in the prescribed form and manner, and got approved with modifications as it deems fit.(2)The working balance shown in the budget should not be less than 5% of the current year's estimated receipts excluding the receipts from endowments Government grants, contributions and debt heads.(3)The estimated receipts should be detailed and real and apparent differences, if any, from the actual receipts of the last year should be accompanied by detailed notes and explanations.(4)It shall include necessary provision for all fixed charges and discharge of debts.(5)The Standing Committee shall, if it is found necessary during the course of a year that the estimates relating to its receipts or the expenditure in respect of the various services undertaken by it as shown in the Budget require modifications, prepare a supplementary or revised Budget and lay it before the Council for approval.(6)While incurring expenditure, no amount other than those included in the current budget estimates shall be expended except under unavoidable emergent circumstances(7)[ No expenditure, out of the amount granted by the Government for the implementation of any Scheme, project or plan entrusted and delegated to the Municipality under this Act shall be incurred for any other purpose including the implementation of any other scheme, project or plan.] [Added by Act 14 of 1999, w.e.f. 24-3-1999.]
