(1) The Development Authority shall prepare its budget for the ensuing financial year and shall submit the same to the State Government, by such date and in such form as may be prescribed.
(2) The Development Authority shall open a Personal Ledger Account (PLA) in the Government Treasury at Solapur, which shall be operated under the name of the Member-Secretary of the Development Authority.
(3) The procedure for incurring expenditure and utilisation of grants for the development works under this Act shall be as per the relevant financial rules of the State Government and it shall be the responsibility of the concerned Government and Semi-Government Agencies to maintain proper record of each of such works, to submit utilisation certificate to the Development Authority periodically, as the State Government may specify for the purpose and to make available records for audit, as and when necessary.
(4) The Accounts of the Development Authority and of the Government and Semi-Government Agencies in respect of the expenditure incurred under the provisions of this Act shall be audited by the auditors of the Local Fund Audit or the Accountant General, as the State Government may, by notification in the Official Gazette, specify.