(1)For every Anchalik Panchayat, there shall be constituted an Anchalik Panchayat fund bearing the name of the Anchalik Panchayat and there shall be placed to the credit thereof -(a)Contribution and grants, if any, made by Central or State Government, including such part of the land revenue collected in the State as may be determined by the Government;(b)Contribution and grant, if any, made by the Zilla Parishad or any other local authority;(c)loans, if any, granted by the Central or the State Government or raised by the Anchalik Panchayat on security of its assets;(d)all receipts on account of tolls, rates and fees levied by it;(e)all receipts in respect of any schools, hospitals, dispensaries, buildings, institutions or works, vested in, constructed by or placed under the control and management of the Anchalik Panchayat;(f)all sums received as gifts or contributions and all income from any trust or endowment made in favour of the Anchalik Panchayat;(g)such fines and penalties imposed and realized under the provisions of this Act, or of the bye-laws made there under, as may be prescribed, and all other sums received by or on behalf of the Anchalik Panchayat.(2)Every Anchalik Panchayat shall set apart and apply annually such sums as may be required to meet the cost of its own administration including the payment of salary, allowances, provident fund and gratuity to the officers and employees. The total expenditure on establishment shall not exceed one-third of the total expenditure of the Anchalik Panchayat without prior approval of the Government.(3)Every Anchalik Panchayat shall have powers to spend such sums as it thinks fit for carrying out the purpose of this Act.(4)The Anchalik Panchayat fund shall be vested in the Anchalik Panchayat.(5)Subject to such general control, as the Anchalik Panchayat may exercise from time to time, all orders and cheques for payment from the Anchalik Panchayat fund shall be signed by the Executive Officer.
