Section 62 in The Maharashtra Village Panchayats Act, 1959
62. Budgets and Accounts.
(1)a panchayat shall determine annually and shall submit to the [Panchayat Samiti] [These words were substituted for the words 'panchayat Mandal' by Maharashtra 5 of 1962, Section 286, Tenth Schedule.] on or before such date and in such form as may be prescribed, a statement of,-(a)the opening balance in the fund and estimated income for the panchayatfor the following [financial year] [These words were substituted for the word 'year' by Maharashtra 36 of 1965, Section 34(1).];(b)the expenditure proposed on establishment and discharge of its duties under [* * * *] [The words, brackets and figure 'sub-section (1) of' were deleted by Maharashtra 36 of 1965. Section 34(2).] section 45;(c)the amount to be contributed to the District Village Development Fund established under section 133.(1A)[ If a panchayat fails to submit such statement as required by sub-section (1) on or before the date prescribed under that sub-section, the Secretary shall prepare such statement and submit it to the panchayat Samiti in the form prescribed under that sub-section on or before such date as may be prescribed.] [Sub-section (1A) was inserted by Maharashtra 13 of 1975, Section 16](1AA)[ In respect of the panchayat to which the Sarpanch is directly elected under section 30A-1A, the provisions of this section shall apply with the following modifications :-(a)for sub-sections (1) and (1A), the following sub-sections shall be sustituted, namely,-"(1) The Sarpanch shall determine annually on or before 5th January of every year in such form as may be prescribed, a statement of,--(a)the opening balance in the fund and estimated income of the panchayat for the following financial year ;(b)the expenditure proposed on establishment and discharge of its duties under section 45 ;(c)the amount to be contributed to the District Village Development Fund established under section 133 ;(d)the statement made under clause (a), (b) or (c), as the case may be, shall be placed by the Sarpanch, before the panchayat ;(e)the panchayat shall in respect of the said statement, finalise its recommendations on or before the 31st of January ;(f)the statement along with the recommendation of the panchayat under clause (e), shall be placed before the Gram Sabha, which may ratify it on or before 28th of February ;(g)after the decision of the Gram Sabha under clause (f), the said statement shall be submitted to the Panchayat Samiti.(1-A) If, on or before the date specified in sub-section (1),-(a)the Sarpanch fails to submit the statement ; or(b)the panchayat fails to make recommendation in respect of the statement ; or(c)the Gram Sabha fails to take decision in respect of ratification of the recommendations, the Secretary shall prepare the statement, regarding the mandatory and office expenditure to be carried out and submit it to the Panchayat Samiti in the form prescribed under the said subsection.";(b)in sub-section (2), for the portion beginning with words " The Panchayat Samiti " and ending with words " increased or decreased: " the portion " The Panchayat Samiti shall, either approve the statement or direct that the proposed expenditure on any of the duties falling under section 45 shall be increased or decreased on or before 31st March of the every year. Expenditure shall be carried out as per this statement till the date budgetary process outlined in sub-section (1) of this section is completed:" shall be substituted ;(c)in second proviso of sub-section (2), after the words " be increased or decreased" the words and figure " on or before 31st March of every year and in case of revised and supplementary statement " shall be inserted.](2)The [Panchayat Samiti] [These words were substituted for the words 'panchayat Mandal' by Maharashtra 5 of 1962, Section 286, Tenth Schedule.] shall within two months from the date of the receipt of such statement, either approve the same or direct that the proposed expenditure on any of the duties [falling under section 45] [These words were substituted for the words 'specified in section 45' by Maharashtra 36 of 1965, Section 34(3).] shall be increased or decreased:Provided that the [Panchayat Samiti] [These words were substituted for the words 'panchayat Mandal' by Maharashtra 5 of 1962, Section 286, Tenth Schedule.], shall not have power [either to disapprove the statement or] [These words were inserted by Maharashtra 34 of 1970, Section 13(a).] to direct that the total proposed expenditure shall exceed the estimated income of the panchayat for the following [financial year] [These words were substituted for the word 'year' by Maharashtra36 of 1965, Section 34(1).] and the opening balance in the fund:[Provided further that, if a Panchayat Samiti fails either to approve such statement or to direct that the expenditure on any of the duties falling under section 45 be increased or decreased, within two months from the date of receipt of such statement, the statement shall be deemed to have been duly approved by the Panchayat Samiti.] [This proviso was added by Maharashtra 34 of 1970, Section 13(b).](3)A panchayat shall contribute every [financial year] [These words were substituted for the word 'year' by Maharashtra 36 of 1965, Section 34(1).] to the [District Village Development Fund] [These words were substituted by Maharashtra 38 of 1973, Section 5.] constituted under section 133 such percentage of its income from all sources (including contributions from the State Government) [but not including any sums received from the State Government, Zilla Panshad or Panchayat Samiti by way of grant or loans for any specific work] [These words were inserted by Maharashtra 36 of 1965, Section 34(4).] not exceeding 10 per cent thereof as may be prescribed.(4)The Secretary shall keep the accounts of the panchayat in such form as may be prescribed. He shall prepare the annual report of the administration of the panchayat and shall place the accounts and the report for approval before the panchayat. The annual statement of such accounts together with the annual report as approved shall be sent to the [Zilla Parishad] [These words were substituted for the words panchayat Mandal' by Maharashtra 5 of 1962, Section 286, Tenth Schedule.] on or before such date and in such form as may be prescribed.
