(1) Every Halqa Panchayat shall prepare and lay for sanction before [the Halqa Majlis] the budget estimates of income and expenditure for the year commencing on 1st day of April, of Halqa Panchayat incorporating therein future development programme and plans for the relevant year.
(2) Copy of the budget estimates of income and expenditure and the annual report of the working of the Halqa Panchayat stating their future development programmes and plans for the next year shall be forwarded to the prescribed authority for record within three days after its sanction under subsection (1).
(3) If any Halqa Panchayat fail to present its budget or annual report in the meeting, the prescribed authority shall prepare the budget and the annual report of such Halqa Panchayat and present the same before an extraordinary general meeting of [the Halqa Majlis] specially called for this purpose and [the Halqa Majlis] shall consider the budget and the annual report so prepared and presented, and draw up development plans for the Halqa Panchayat area.
(4) Approved budget for the Halqa Panchayat shall be duly publicised.
[(5) The records of the Halqa Panchayats pertaining to the funds and developmental activities shall be open for examination of the voters of the Halqa Panchayats concerned.]