(1) There shall be funds of the Commission to be maintained by the Commission to which shall be credited all its income from fees, fines, grants from State Government and from any other sources and any other income whatsoever approved by the State Government.
(2) The budget of the Commission showing the income and expenditure of the Commission on various heads of account for a financial year shall be submitted to the State Government for approval at least two months from the beginning of every financial year in such form as may be prescribed.
PART III] THE KOLKATA GAZE! Ih, EXTRAORDINARY, NOVEMBER 29, 2012 11 The West Bengal College Service Commission Act, 2012.
Accounts of Commission.
Inspection of Commission.
Members etc. of the Commission are Public Servants.
Report of Commission.
Validation of proceedings of Commission.
Act not to apply in certain Colleges or Universities.
Power to make rules.
(Chapter VI.—Funds,Accounts, Audit and Inspection of the Commission.— Sections 18, 19.—Chapter VIL—Miscellaneous.—Sections 20-24.)
(3) The State Government shall, within fifteen days of commencement of every financial year to which the budget is related, communicate its approval or otherwise of the budget to the Commission.
(4) The State Government shall release grants to the Commission to incur its capital and revenue expenditure.
(5) The rules regarding utilization of funds shall be such as may be prescribed by the State Government.
(6) Other financial transactions of the Commission shall be such as may be provided for by regulations.