(1) The Authority shall prepare a budget of estimated receipts and expenditure in respect of the next financial year in Form-I and shall forward the same to the Government on or before 15th September of every year.
(2) The statement shall be supplemented by an explanatory note highlighting the activities, programmes and projects proposed to be undertaken in the ensuing year.
(3) Any deviation from the expenditure proposed in the annual statement already approved by the Authority shall have to be specifically sanctioned by the Authority and for this purpose supplemental estimates may also be prepared.
(4) The Authority may also authorize such reappropriation of expenditure from one head of estimate to another within its overall budget.