(1)Every working trustee or manager of a public trust shall maintain the following books of accounts, viz.,-(a)a journal of all receipts and expenditure maintained cither on daily, weekly or fortnightly basis, at the end of which period, the balance of the accounts will be struck;(b)a ledger classifying all receipts and all expenditure under such heads as may be directed by the Registrar;(c)a stock book showing a list of all movable properties owned and purchased for the trust with the value thereof and the date of purchase;(d)a register of immovable property held by the trustee, its location, land revenue or rent and other taxes payable, encumbrances, if any, and references to any documents relating to such property;(e)a register of securities held and actionable claims due to the public trust, giving details of various items and of the amount due thereunder;(f)a register showing claims to receive benefits out of movable or immovable property :Provided that the Registrar may, in the case of Trusts the value of whose property is less than Rs. 3,000 dispense with the maintenance of any of the books mentioned above.(2)Every working trustee or manager of a public trust shall obtain a receipt for every item of expenditure exceeding a sum of Rs. 5 at one transaction. All such receipts shall be preserved, until the annual audit report is accepted by the Registrar. He shall also maintain counterfoils of all receipts in respect of sums received by him on account of income arising out of the immovable or movable property of the trust. They may also be destroyed after the annual audit and acceptance of accounts by the Registrar. No such receipt need be issued in respect of casual income received by the trustee but an entry shall be made in the journal for the total of such income made during the course of the day.(3)The Registrar may direct the working trustee or the manager of a public trust to maintain such additional books of accounts as he may consider necessary or dispense with the maintenance of such books out of the books mentioned in sub-rule (1) as he may think proper in the light of the peculiar nature of each public trust.
