Section 144 in Maharashtra Housing and Area Development Act, 1976
144. Budget and accounts.
(1)A Panchayat shall submit annually to the Board on or before such date and in such form as may be prescribed a statement of -(a)the opening balance in the Panchayat fund and the estimated receipts by the Panchayat for the following year;(b)the expenditure proposed on establishment and discharge of its duties.(2)The Board shall within two months from the date of receipt of such statement either approve the same or direct that the proposed expenditure on any of the duties be increased or decreased:Provided that, if the Board fails either to approve -such statement or to direct that the expenditure on any of the duties be increased or decreased, within two months from the date of receipt of such statement, the statement shall be deemed to have been duly approved by the Board.(3)The Sarpanch shall keep or cause to be kept the accounts of the Panchayat in such form as may be prescribed. He shall prepare an annual report of the administration of the Panchayat and shall place the accounts and the report for approval before the Panchayat. The annual statement of such accounts together with the annual report as approved shall be sent to the Board on or before such date and in such form as may be prescribed.
