(1) On or before the prescribed date, every local authority for which an education fund has been constituted under section 35 shall submit to the Government through the Director in such form as may be prescribed a budget for the ensuing financial year showing the income and expenditure relating to such fund.
(2) The Government may pass such orders as they think fit in respect of the budget and the local authority concerned shall carry out such orders.
41. The accounts of the education fund of each local authority shall be examined and audited by such officer as may be appointed by the Government and the local authority concerned shall carry out any instructions which the Government may issue on the audit report.
Budget of education fund.
Audit of accounts of education fund.
[Act No.1 of 1982] 49
CHAPTER VIII.
Grant-In-Aid
42. The Government shall, within the limits of its economic capacity, set apart a sum of money annually for being given as grant-in-aid (hereinafter in this Act referred to as grant) to local authority institutions and private institutions in the State, recognised for this purpose in accordance with rules made in this behalf.