Section 19 in Punjab Regional and Town Planning and Development (General) Rules, 1995
19. Preparation and maintenance of accounts of the Authority.
- Subject to the provisions of the Act and the directions issued by the State Government in this behalf the Authority shall maintain and keep at its headquarters proper books of accounts and other relevant records with respect to, -(a)all sums of money received and expended by the Authority and the matters in respect of which the receipt and expenditure takes place ;(b)all sales and purchases of land, sites, buildings, apartments; and(c)the assets and liabilities of the Authority.(2)The Authority shall, in each year hold in addition to any other meetings, a meeting at its annual meeting which shall be held within a period of six months ending with the date of closing of the financial year.(3)At every annual meeting of the Authority held in pursuance of sub-rule(2), the Chief Administrator of the Authority shall lay before the Authority -(a)a balance sheet as at the end of the financial year; and(b)an income and the expenditure account for the financial year.(4)Every balance sheet of the Authority shall give true and fair view of the State affairs of the Authority as at the end of the financial year and shall be in the form set out in Part I of Schedule II or as near thereto as circumstances admit or in such other form as may be approved by the State Government.(5)Every income and expenditure account shall give a true and fair view of the excesses of income over expenditure or the excesses of expenditure over income for the financial year and shall be in the form the set out in part II of Schedule II or as near thereto as circumstances admit or in such other form as may be approved by the State Government.(6)The income and expenditure account including the balance sheet prepared under sub-rule (1) shall be signed on behalf of the Authority by not less than two members of the Authority one of whom shall be the Chief Administrator or the Vice-Chairman.(7)The income and expenditure account including the balance sheet shall be approved by the Authority before they are signed on behalf of the Authority in accordance with the provisions of sub-rule (6) and before they are submitted to the auditors for their report thereon.(8)The Authority shall send a copy of the income and expenditure account including the balance sheet together with the audit report thereon to the State Government and also publish it in the Official Gazette of the Government of Punjab. (Sections 53 and 180(2)(n).)
