Cement, Energy and Environment

< Budget of State Authority. Investment of funds by State Authonty. Accounts and audit of State Authority. Annual report of State Authon ty. 14 25. (I) Each State Authority shall prepare its budget for the next financial year. showing the estimated receipts and expenditure of the State Authority and fotward the same to the State Government. in such form and at such time, in each financial year, as may be prescribed. (2) Each State Authority shall adopt financial regulation and procedures. in particular 5 the procedure for drawing up and implementing the budget of the State Authority as may be prescribed. 16. State Authority may invest funds available in the State Fund under public accounts of such State in the securities of the Central Government and in scheduled banks in such manner as may be prescribed: Provided that the grants received from the State Government shall not be invested and shall be utilised for the purpose and in the manner prescribed. 17. ( 1) Each State Authority shall maintain proper accounts and other relevant records and prepare an annual statement of accounts in such form as may be prescribed in consultation with the Comptroller andAuditor-General of India. (2) The accounts of each State Authority shall be audited by the Comptroller and Auditor-General at such intervals as may be sp:cified by him and any expenditure incurred in connection with such audit shall be payable by the State Authority to the Comptroller and Auditor-General. 10 l5 (3) The Comptroller and Auditor-General and any other person appointed by him in JJ connection with the audit of the accounts of the State Authority shall have the same right and privileges and authority in connection \vith such audit as the Comptroller andAuditor– General generally has in connection with the audit of the Government accounts and. in particular. shall have the right to demand the production of books, accounts. connected vouchers. other documents and papers and to ~t the office of the State Authority. 25 ( 4) The Accounts of the State Authority as certified by the Comptroller andAuditor– General or any other person appointed by him in this behalf together v.oith the audit report thereon, shall be fOIWarded annu..11ly to the State Government by the State Authority. (5) The Comptroller and Auditor-General shall. \vithin a period ofsix mmlths from the date of commencement of the Act, audit the accounts of all the monies which have been IJ transferred by the ad hoc Authority to the State Compens atory Afforestation Ptmd Management and Planning Authorities constituted in the States in compliance of guidelines dated the 2nd July. 2009 and submit the report to the State GovefJllllellt under this section_ (6) The C.entral Government and the State Government concerned shall have the power to conduct the special audit or performance audit of the State Fund and of tll.e State 35 Authority through the Comptroller and Auditor-General 18. {1) Each State Authority sll.all prepare its annual report. giving a full account of its activities during the previous financial year and forward a copy thereof to the concerned State Governm.ent, in such form and at such time. for each financial year. as may be ~scribed. (2) The anmkll report of a State Authority shall, in;er alia. provide for- (i) the number and locatim1 of each reforestation, afforestation and conservation activity subject to the requirement of this section: (ii) the anmunt and location of lands in hectares. cleared. conserved and planted in cormection with the activity; and (iii) the amount of afforestation money collected and expended. 45 45