(1) The Authority shall prepare and sanction every year, before such date and in such form as may be prescribed, a budget estimate of its income and expenditure for the financial year and shall forward it to the Government for necessary action.
(2) The Department of Science and Technology, Government of Karnataka shall be the nodal Department for the Authority on behalf of 20 Government to exercise supervision, control and to issue directions to the Authority.
(3) Expenditure shall be incurred out of the sanctioned budget by the Authority and as per the approved plan. In case of any emergency for expenditures related to other matters or issues or plans, a special meeting of the Authority shall be convened to decide on the same.
(4) The Authority shall not have power to re-appropriate funds from one unit of expenditure to another unit beyond the permissible limits as stipulated by the Government. However, prior approval of the Government is required for any re-appropriation beyond permissible limits,.