Section 102P in Karnataka Municipal Corporations Act, 1976
102P. Expenditure and accounts.
(1)The Board shall have the same financial powers as are exercisable by the Secretary of a department of the State Government. Matters beyond such financial [xxx] [Omitted by Act 20 of 2012 w.e.f. 14.3.2012.] powers shall be referred by the Board to the State Government for decision.(2)The Board shall keep accounts of all receipts and expenditure and prepare annual account, in a regular manner as per standard accounting norms or in such manner as may be prescribed.
