Section 147(2)(b) in The Bihar and Orissa Local Self-Government Act, 1885
(b)such movable property and funds (including any unspent balance of Government grants) belonging to that District Board, as the State (Government may direct, shall be vested in, and be subject to the control and administration of the newly established District Board or, as the case may be, of the District Board of the district to which such local area has been transferred: