44. Form and time in which budget is to be prepared [Section 45].
(1)The Chief Executive Officer shall prepare in Form 'R' before the third week of January every year, a budget in respect of the financial year next ensuing, showing the estimated receipts and expenditure, for each of the auqaf, under the direct management of Board, showing therein the estimated receipts and expenditure, and submit it to the Board for its approval.(2)While submitting the budget under sub-rule (1), the Chief Executive Officer shall also prepare statement giving details of the increase, if any, in the income of each waqf under the direct management of the Board and the steps which have been taken for better management and the results accruing therefrom during the year, as envisaged under sub-section (2) of section 45.(3)Before granting its approval to the budget submitted by the Chief Executive Officer, the Board may seek any necessary information with regard to the estimated receipts and expenditure mentioned in the budget from the Chief Executive Officer and modify the same, accordingly.(4)If during the financial year, the Chief Executive Officer considers it necessary to modify the figures, as shown in the budget regarding receipts or the distribution of the amounts, to be expended on different items, a supplemental or revised budget may be prepared by him, and the same may be got approved from the Board.
