(1) The Board shall in respect of every financial year cause to be prepared a statement of the estimated receipts and expenditure of the Board for that year and cause it to be submitted to the State Government for its approval.
(2) The estimates of expenditure embodied in the annual financial statement shall show separately : --
(a) allowances of the [Vice-Chairman] 1 and other non official members;
(b) emoluments and allowances of [the officers and employees] 2 of the Board and other expenditure relating to the office of the Board;
(c) debt charges for which the Board is liable including interest, sinking fund charges and redemption charges, and the expenditure relating to the borrowing of loans and the service and redemption of debt ;
(d) any Bums required to satisfy any judgment, decree or award of any court or tribunal;
(e) any sums required, fit implementation of programmes and schemes of the Board; and
(f) any other expenditure, as may be prescribed for the purposes of this Act.
1. Substituted by section 13(1) of U.P. Act No. 24 of 1966.
2. Substituted by section 13(2) ibid for “the employees”.
18 [The Uttar Pradesh Khadi and Village Industries Board Act, 1960] [Section 22-25A] Supplementary financial statement
22. The Board shall, where the amount authorize by the annual financial statements to be expended for a particular service, programme or scheme for the current financial year, approved the State Government is found to be insufficient for the purposes of that year or when a need has arisen during the current financial year for supplementary expenditure upon some new service, programme or scheme not contemplated in the annual financial statement for the year, cause to be prepared, another statement showing the estimated amount of that expenditure and cause it to be Submitted to the State Government for its approval.
Approval of the State Government on annual and supplementary financial statement