Section 95 in Jammu and Kashmir Panchayati Raj Rules, 1996
95. Custody and Administration of Panchayat Funds.
(1)The administration of Panchayat fund shall be the responsibility of Halqa Panchayat.(2)The expenditure shall be regulated on the basis of the approved action plan for the Panchayat. The re-appropriation shall be authorised by the Panchayat.(3)All money transactions to which any member of the Panchayat or any officer or servant of the Panchayat in his official capacity is party shall without any reservation be brought to account and all the money shall be credited in full to the Panchayat fund.(4)Money due to the Panchayat shall be collected either by payment at the Panchayat Officers or by outdoor collections or by both as the Panchayat may determine. Receipts of all money received shall be issued in Form 20.(5)Accounts of all income and expenditure of the Panchayat funds shall be maintained in Form 12. The account shall be closed and balanced at the end of every month and shall be examined/passed by the Panchayat at the meeting in the next following month.(6)The Halqa Panchayat may hold a sum not exceeding Rs. 500/- as imprest money to meet petty and emergent expenses.
