Section 141 in The Punjab Panchayati Raj Act, 1994
141. Minimum balance in Panchayat Samiti Fund.
- Except with the previous sanction of the State Government the actual cash balance of the Panchayat Samiti Fund, excluding investments, the suspend balance of loans and grants of all kinds and receipts from the sale of land and buildings, shall not be permitted at any time to fall below an amount equal to ten per cent of the Panchayat Samiti's income of the previous financial year excluding sales or maturity of investment and the amounts in suspense accounts:Provided that the actual cost price of such Post Office Cash certificate held by the Panchayat Samiti and such sums placed by the Panchayat Samiti in fixed deposit with any bank as are not earmarked for specific purposes, may be reckoned as forming part of the actual cash balance.
