161. Submission of financial statement and balance sheet to the Audit Authority.
- The financial statement prepared under section 159 and the balance sheet of the assets and liabilities prepared under section 160 shall be placed by the Chief Officer of the Municipality :(a)in the case of a Municipal Corporation or a Class 'A' or a Class 'B' Municipal Council, before the Standing Committee; and(b)in the case of a Class 'C' Municipal Council or a Nagar Panchayat, before the Municipal Council or the Nagar Panchayat as the case may be;who after examination of the same, shall adopt and remit these within one month to the Audit Authority provided in section 162.
