Section 76 in The Gujarat Municipalities Act, 1963
76. Presentation of accounts, budget estimates.
(1)A municipality shall have prepared and laid before it, at its periodical general meetings, complete accounts of the receipts and expenditure of the municipality since the 1st day of April last preceding, and at a general meeting which shall be held on such day between the 10th January and the 15th March as may be fixed in this behalf by the rules of the municipality, a complete account of the actual and expected receipts and expenditure for the financial year ending or the 31st March next following, together with a budget estimate of the income and expenditure of the municipality for the financial year to commence on the 1st April next following.(2)The municipality shall thereupon decide upon the appropriation and the ways and means contained in the budget of the year to commence on the 1st April next following. The budget so sanctioned may be varied or altered from time to time, as circumstances may render desirable, at a special general meeting called for the purpose:Provided that the executive committee or any other committee appointed under the Act may, within the budget so sanctioned, sanction re-appropriations not exceeding Rs. 5000 from one sub-head to another or from one minor head to another minor head under the same major head and controlled by the same committee. A statement of such a re-appropriations shall be submitted to the municipality at every quarterly general meeting.(3)Save as provided in sub-section (2), no sum shall be expended by or on behalf of the municipality unless such sum is included in the budget estimate which has been sanctioned and in force at the time of incurring the expenditure.(4)The municipality shall at the general meeting in April or after audit of the past year's accounts, if such audit has not before that general meeting taken place pass the accounts of the past year.
