Section 13 in The Charitable Endowments (Orissa) Rules, 1956
13. Accounting of interest.
- The Treasurer on receipt of any interest on securities, shall credit it to his Personal Ledger Account kept in the Cuttack Treasury. Withdrawal from the Personal Ledger Account shall be made by cheques only drawn by the Treasurer. The interest will be distributed to the various ledger account, in the register in Form 2, in which the gross amounts shall be shown, any deductions for fees, etc. being shown as a charge, and the payment of the balance to the Administrators being shown as a disbursement. Payment orders for interest in favour of Administrators residing outside Cuttack shall be by means of Bank Drafts and for those residing in Cuttack by cheques issued by the Treasurer. The entries in the ledger of interest received shall be taken out and agreed annually with the total amount of the interest drawn.
