State Act

The Maharashtra Village Panchayats Act.

62. Budgets and Accounts.— 8[(1) The Sarpanch shall determine annually on or before the 28th February of every year, in such form as may be prescribed, a statement of,— (a) the opening balance in the fund and estimated income of the panchayat for the following financial year ; (b) the expenditure proposed on establishment and discharge of its duties under section 45 ; (c) the amount to be contributed to the District Village Development Fund established under section 133 ; (d) the statement made under clause (a), (b) or (c), as the case may be, shall be placed by the Sarpanch before the panchayat. (1A) The panchayat shall in respect of the said statement, finalise its recommendations on or before the 7th of March of the same year. (1B) The statement along with the recommendation of the panchayat under sub-section (1A), shall be placed before the Gram Sabha, which may ratify it on or before the 15th of March of the same year and the decision of the Gram Sabha shall be submitted to the Panchayat Samiti. (1C) If, on or before the date specified in,— (a) sub-section (1), the Sarpanch fails to submit the statement ; or (b) sub-section (1A), the panchayat fails to make recommendation in respect of the statement; or (c) sub-section (1B), the Gram Sabha fails to take decision in respect of ratification on the recommendations, the Secretary shall prepare the statement, regarding the mandatory and office expenditure to be carried out, and submit it to the Panchayat Samiti in the form prescribed under the said sub-section.] (2) 1[The Panchayat Samiti shall either approve the statement or direct that the proposed expenditure on any of the duties falling under section 45 shall be increased or decreased on or before the 31st March of the every year. Expenditure shall be carried out as per the statement till the date budgetary process outlined in sub-section (1), (1A) and (1B) is completed :] Provided that the 2[Panchayat Samiti], shall not have power 3[either to disapprove the statement or] to direct that the total proposed expenditure shall exceed the estimated income of the panchayat for the following 4[financial year] and the opening balance in the fund : 5[Provided further that, if a Panchayat Samiti fails either to approve such statement or to direct that the expenditure on any of the duties falling under section 45 be increased or decreased 6[on or before the 31st March of every year and in case of the revised and supplementary statement], within two months from the date of receipt of such statement, the statement shall be deemed to have been duly approved by the Panchayat Samiti.] (3) A panchayat shall contribute every 7[financial year] to the 8[District Village Development Fund] constituted under section 133 such percentage of its income from all sources (including contributions from the State Government) 9[but not including any sums received from the State Government, Zilla Parishad or Panchayat Samiti by way of grant or loans for any specific work] not exceeding 10 per cent. thereof as may be prescribed. (4) The Secretary shall keep the accounts of the panchayat in such form as may be prescribed. He shall prepare the annual report of the administration of the panchayat and shall place the accounts and the report for approval before the panchayat. The annual statement of such accounts together with the annual report as approved shall be sent to the 1[Zilla Parishad] on or before such date and in such form as may be prescribed.