Section 9: Annual Accounts and Audit

(1) The accounts of the Council shall be maintained in the form of receipts and expenditure accounts.

(2) The annual statement of accounts shall be prepared as receipts and expenditure accounts, for each financial year.

(a) The receipts shall consist of.-

(i) block grants received from the Government;

(ii) grants that may be received from University Grants Commission or All India Council for Technical Education or Government of India or other sources;

(iii) interest earned on investments; and

(iv) other miscellaneous receipts derived.

(b) The expenditure shall include.-

(i) salaries and other allowances to officers and staff;

(ii) expenditure on wages, telephone, electricity, newspapers, office expenses, etc;

(iii) expenditure on meetings of the Council, its committees or commissions sitting fees, conveyance charges, traveling allowance, daily allowance and other incidental expenses;

(iv) expenditure for the conduct of conferences and seminars including traveling allowance, daily allowance or honorarium to the invitees, participants and incidental expenses;

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(v) expenditure on welfare of staff, provident fund contribution, leave salary and pension contribution; and

(vi) any item of capital or revenue expenditure authorized by the Council.

(3) The Director of Local Fund Audit, Chennai shall be appointed as auditor of the Council.