(1) All moneys received by the Board shall be deposited in any of the nationalized scheduled banks in the name and style of 'Karnataka Prisons Development Fund'.
(2) The accounts of the Karnataka Prisons Development Fund' shall be operated by the Commissioner. Accounts officers of the Board shall be responsible for preparing the statement of accounts and for placing the same before the Board.
(3) The Commissioner is authorized to draw and incur an expenditure of up-to Rupees Ten Lakhs at a time on all transactions relating to development and welfare schemes of the Board and in furtherance of the objectives of the Act. The accounts of such expenditure shall be placed before the Board from time to time for its ratification.
(4) In case of urgent matters, where the expenditure exceeds the Rupees Ten Lakhs, the Commissioner shall obtain prior approval of the Chairman or in his absence Vice- Chairman of the Board and seek ratification in the next Board meeting.
(5) To meet the day to day contingent expenditure of the Board, an amount of Rupees Two Lakhs shall be kept as permanent advance with the Commissioner which shall be recouped from time to time.
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(6) The Commissioner is authorized to give an advance amount up to rupees two lakhs to each Central Prisons and up to one lakh to other Prisons, as working capital, for undertaking commercial and other activities to meet the objectives and functions of the Board.
(7) The Prisons Development Fund shall also be utilized towards meeting:
(a) All expenses towards conduct of Board meetings, meetings by the Commissioner and other officers of the Board as well as towards maintenance of the Board office;
(b) All charges payable to the experts and consultants invited to the Board from time to time;
(c) Salaries, allowances, loans and advances payable to the officers and employees appointed by the Board;
(d) Travel expenses and allowances payable to the members, officers and staff of the Board;
(e) Repayment of loans borrowed by the Board;
(f) Expenditure payable towards cost of acquiring movable and immovable properties, machinery, furniture etc;
(g) Expenditure payable towards implementation of programs or schemes or welfare programs for prisoners such as education, vocational or skill training, industry and manufacture activities, agriculture, poultry, dairy, fishery and horticulture and such other occupational and commercial activities carried in the Prisons for the development of the Prisoners;
(h) Expenditure incurred towards renovation, repairs and extension of existing prison buildings both residential and non-residential;
(i) Expenditure payable towards acquisition of assets whether movable or immovable including modernizing the prison administration such as procurement of computers, information technology and 8 telecommunication equipments, purchase and development of software, communication facilities, gadgets, vehicles, security or surveillance equipment, Video conference equipment or any other professional or technical or security gadgets required from time to time;
(j) Expenditure payable towards improvement of skills and competency of the Prison officers and employees as well as the welfare of the officers and staff and their family members;
(k) Charges payable for academic studies and research projects undertaken in the Prisons;
(l) Fees payable towards auditing of the accounts of the Board;
(m) Expenses towards holding of conferences, workshops, seminars, symposiums, training programs and study tours of the Prison officials within the country as well as abroad; and
(n) Any other expenditure incurred as decided by the Board from time to time.