(1)In the form of budget estimate and the quarterly and annual accounts to be prepared for publication all sums received by the Council shall be treated as forming one general municipal fund, but in appropriating the funds at its disposal, the Council shall maintain a separate account in Form No. IV showing the receipt charges and balance on account of each of the latrine, water, lighting, drainage and education tax(2)When capital expenditure is met from loan money, the amount of the loan shall be entered in column 3 of the form, the capital expenditure in column 6 and the repayment of the loan plus interest in column 8. But when capital expenditure is met from surplus revenues including earmarked Government grants and private contributions, only equated annual instalments of that expenditure plus interest shall be entered in column 8.(3)The credit balance of each of these accounts shall be carried forward and not appropriated for general purpose, but if there is a debit balance every year for five years continuously, it may be cleared by adding the deficit to the receipts as a contribution from the general fund. The direct receipts and charges shall be transcribed from the monthly accounts (Form Nos. XV and XVI), but the proportionate shares of cost of collection and supervision will be estimated and entered in this account without disturbing the classification in the consolidated accounts of the municipal fund. For example, if a proportionate share of the cost of collection is to be charged against the water tax it will be entered in column 7 of the statement, but the full cost collection must continue to be shown in Form Nos. XVI and XXIII under the head "Collection of taxes, and not proportionately under that head and "water-supply". The same rule applies to the proportionate distribution of the receipts to the credit of the subsidiary funds.(4)An abstract account in Form No. IV showing the estimated opening and closing balances and receipts and expenditure pertaining to each tax as shown in the estimates for the ensuing year, shall be appended to the budget. Similar figures showing the estimated balances and expenditure out of any loan granted by Government shall also be shown in this abstract. When a proportion only of certain receipt, and charges is taken into the account of any particular tax or fund, the necessary information shall be furnished in the 'Remarks' column of the form.
