82. Preparation of budget estimate of Municipality.
(1)The Chief Municipal Officer shall prepare in each year a budget estimate alongwith an establishment Schedule of the Municipality for the ensuing year, and such budget estimate shall be an estimate of the income and expenditure of the Municipality.(2)Subject to the provisions of Section 10 and sub-section (2) of Section 73, the budget estimate shall separately state the income and the expenditure of the Municipality to be received and incurred in terms of the various heads of accounts,(3)The budget estimate shall state the rates at which various taxes, surcharges cesses and fees shall be levied by the Municipality in the year next following,(4)The budget estimate shall state the amount of money to be raised as loan during the year next following,(5)The Chief Councillor shall present the budget estimate to the Municipality on the 15th day of February in each year or as soon thereafter as possible,(6)The budget estimate shall be prepared, presented and adopted in such Form and in such manner, and shall provide for such matters, as may be prescribed,(7)The annual statements prepared under sub-section (2) of Section 105 and sub-section (1) of Section 117 together with the reports prepared under sub-section (1) of Section 81 and under sub-section (2) of Section 249 shall be enclosed with the budget estimate.(8)[ The budget estimate shall earmark a minimum of 25% of financial resources towards provision of basic services to urban poor;(9)The budget estimate shall be prepared on cash basis showing no deficit i.e. opening balances plus all receipts less all expenditures must not result in negative cash balances;] [Added by Bihar Act No. 2 of 2014, dated 8.1.2014.][[10] [Added by Bihar Act No. 7 of 2011, dated 27.5.2011.] Budget estimate shall be prepared, presented and adopted in such Form and in such manner, as may be prescribed.]
