(1) The Chairman shall prepare , as soon as may be after the commencement of each financial year:-
(a) The annual report referred to in section 22 of the Act, and
(b) Annual statement of accounts referred to in sub-rule (2) of rule 28.
(2) The annual report referred to in sub rule (1) shall, inter alia include account of the activities of the authority during the previous financial year on the following matters, namely:- 10
(i) A statement of corporate and operational goals and objectives of the Authority;
(ii) Annual targets in physical and financial terms set for various activities in the background of (1) above together with a brief review of the actual performance with reference to those targets:
(iii) An administrative report on the activities of the Authority during the year just pass and the current year and an account of the activities which are likely to be taken up during the next financial year.
(iv) A summary of the actual financial results during the previous year of report, as indicated by way of statements of (a) income and expenditure, (b) source and application of funds and (c) cash flow;
(v) Important changes in policy and specific measure either taken or propose to be taken, which have influenced or are likely to influence the profitability or functioning of the Authority;
(vi) New projects of expansion schemes contemplated together with their advantages, financial implications and programmes for execution;
(vii) Important changes in the organizational set up of the Authority;
(viii) Report on employer – employee relations and welfare activities of the Authority;
and
(ix) Report on such other miscellaneous subjects as deemed fit by the Authority or the Central Government for reporting to the latter.
(3) The annual report referred to in sub-rule (1) shall be placed for adoption in the meeting of the Authority and shall be signed by the Chairman and two other Members and authenticated by affixing the common seal of the Authority and one hundred copies thereof shall be submitted to the Central Government by the end of the October of the following year.
(4) Omitted vide notification dated 22.5.92 of Ministry of Surface Transport, Govt. of India.
(5) The annual accounts signed by the Chairman and two other Members one of whom shall be Member (Finance) and authenticated affixing the common seal of the Authority after adoption by the Authority at its meeting together with the Auditor’s certificate and report thereon shall be submitted to Government by last week of December of the following year to which the accounts relate.
30. Omitted vide notification dated 22.5.92 of Ministry of Surface Transport Govt. of India.
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CHAPTER- VIII Investment of Funds