State Act
Section 466
Art. 466 – At the end of each quarter, the clerk of the comunidades after calculating the sum of the incomings and outgoings amount, shall prepare the balance on a separate sheet of paper, determining the cash balance and, together with the other key holders, after checking that this balance exists in the safe, shall certify the balance in the safe, signed by the same key holders, forwarding the same to the administration office during the first eight days of the next month. Failing to do this the clerk shall be liable to pay a fine of 60 $. § 1. Similar fine shall be imposed by the administrator on the key-holder who causes delay in sending it, fail to justify to be present at the verification of balance in the safe, without giving a proper justification for his absence, within five days. § 2. The sums which have been forwarded to constitute this balance shall refer to the page of the cash-book, from where they were taken and shall also indicate the serial order of the amount entered and issued. § 3. In addition to the quarterly balance sheet foreseen in the main body of this article, a monthly balance-sheets may be asked to prepare by the higher authorities and in accordance with the instructions issued for this purpose by the Directorate of Civil Administration. §131[4. The final audit of the accounts of Comunidades having an annual income exceeding Rs.15, 000/-, shall be done by a Chartered Accountant, every year.].