Section 8. Budget, accounts and audit.

(1) The Development Authority shall prepare its budget for the ensuring financial year and shall submit the same to the State Government, by such date and in such form as may be prescribed. (2) The State Government may, by due appropriation, make the requisite grants to the Development Authority for the works sanctioned under the Tuljapur Development Master Plan. (3) The Development Authority shall open a Personal Ledger Account (PLA) in the Government Treasury at Osmanabad, which shall be operated under the joint names of the Chairperson and the Member-Secretary of the Development Authority. (4) The procedure for incurring expenditure and utilisation of grants for the development works under this Act shall be as per the relevant financial rules of the State Government, and it shall be the responsibility of the concerned Government and Semi-Government Agencies to maintain proper record of each of such works, to submit utilisation certificate to the Development Authority periodically, as the State Government may specify for the purpose, and to make available records for audit, as and when necessary. (5) Accounts of the Development Authority and of the Government and Semi-Government Agencies in respect of the expenditure incurred under the provisions of this Act shall be audited by the auditors of the Local Fund Audit or the Accountant General.