(1) At the end of the year, an annual account [in form No. 1 A]as per budget heads (minor as well as detailed) shall be prepared duly supported by a certificate signed by the Treasury Officer showing the amount at the credit of the Board in the treasury' at the close of the year and if there is any difference between the amount shown in the certificate and the amount shown as the closing balance in the annual account, details shall be given in the 'Remarks' column on the last page of the income to which the discrepancy is due.
(2) The annual accounts so prepared shall be submitted in the general meeting of the Board.
[(3) A copy of the annual account having been finally passed by the Board shall be transmitted to the State Government or any officer duly authorised in this behalf by 30th June of the next financial year.]