Save as otherwise provided in this Act -

The New Delhi Municipal Fund shall be held by the Council in trust for the purposes of this Act subject to the provisions herein contained and a General Account relating to all money received by or on behalf of the Council shall be maintained.

Save as otherwise provided in this Act no payment shall be made by the State Bank of India out of the New Delhi Municipal Fund except on a cheque signed by both-

Payments not covered by sub-section (2) may be made in cash.

repayment of moneys belonging to contractors or other persons and held in deposit and of moneys collected or credited to the New Delhi Municipal Fund by mistake: -

required fro a purpose or work specifically sanctioned by the proper authority and covered by a current budget-grant, or

The money from time to time credited to the New Delhi Municipal Fund shall be applied in payment of all sums, charges and costs necessary for carrying out the provisions of this Act,and of the rules, regulations and bye-laws made thereunder, or of which payment is duly directed, sanctioned or required by or under any of the provisions of this Act.

Such money shall likewise be applied in payment of all sums payable out of the New Delhi Municipal Fund under any other enactment for the time being in force.

On the written requisition of a Secretary to the Central Government, the Chairperson may at any time undertake the execution of any work certified by such Secretary to be urgently required in public interest, and for this purpose may temporarily make payments from the New Delhi Municipal Fund so far as the same can be met without unduly interfering with the regular work of the Council.

The cost of work so executed and of the Establishment engaged in executing the same shall be paid by the Central Government and credited to the New Delhi Municipal Fund.

On the receipt of any requisition under sub-section (1) the Chairperson shall forthwith forward a copy thereof to the Council together with a report of the steps taken by him in pursuance of the same.

Surplus money standing at the credit of General Account of the New Delhi Municipal Fund which cannot immediately be applied for the purposes specified in secting 50 shall be deposited in the State Bank of India or in such scheduled bank or banks as the Council may select or be invested in public securities.

The loss, if any, arising from such deposit or investment shall be debited to the General Account of the New Delhi Municipal Fund.

After the commencement of this Act the Finance Commission referred to in sub-section (1) of section 107 A of the Delhi Municipal Corporation Act, 1957 (66 of 1957), shall review the financial position of the Council and make recommendations to the Administrator as to, -

The Administrator shall cause every recommendation made by the Commission under this section together within an explanatory memorandum as to the action taken thereon to be laid before the Legislative Assembly of the National Capital Territory of Delhi.

The Council shall constitute such special fund or funds as may prescribed by regulations and such other funds necessary for the purposes of this Act as may be so prescribed.

The constitution and disposal of such funds shall be effected in the manner laid down by regulations.

The Council shall, on or before the 31st day of March of every year, adopt for the ensuing year the budget estimate which shall be an estimate of the income and expenditure of the Council to be received and incurred on account of the municipal government of New Delhi.

On or before the 15th day of February of each year the Council shall determine the rates at which various municipal taxes, rates and cesses shall be levied in the next following year and save as otherwise provided in this Act the rates so fixed shall not be subsequently altered for the year for which they have been fixed.

Budget estimates shall be prepared in such form as may be approved by the Council and presented and adopted in such manner and shall provide for all such matters as are prescribed by regulations made in this behalf.

On the recommendation of the Chairperson in respect of the budget estimate, the Council may from time to time, during the year, -

Provided that due regard shall be had to all the requirements of this Act and in making any increase or any additional budget-grant, and estimated cash balance at the close of the year shall not be reduced below the sum of one lakh rupees or such higher sum as the Council may determine in respect of the budget estimate.

The Chairperson may from time to time during the year sanction the transfer of any amount not exceeding ten thousand rupees within a minor head if such transfer does not involve a recurring liability:

Provided that every such transfer if it exceeds ten thousand rupees shall be reported forth with by the Chairperson to the Council and the Chairperson shall give effect to any order that may be passed by the Council in relation thereto.

If at any time during the year it appears to the Council that, notwithstanding any reduction of budget-grant that has been made under section 56 the income of the New Delhi Municipal Fund during the same year will not suffice to meet the expenditure sanctioned in the budget estimates of that year and to leave at the close of the year the cash balance specified in or determined under the proviso to sub-section (1) of section 56, than, it shall be incumbent on the Council to sanction forthwith any measures which it may consider necessary for adjusting the year's income to the expenditure.

For the purposes of sub-section (1), the Council may either diminish the sanctioned expenditure of the year so far as it may be possible so to do with regard to all the requirements of this Act, or have recourse to supplementary taxation under section 97 or to an increase of the rates of cessess, fees, fares, and other charges leviable under this Act, or to adopt all or any of these methods.

If the whole or any part of any budget-grant included in the budget estimates for a year remains unexpended at the close of that year, and the amount thereof has not been taken into account in the opening balance entered in the budget estimates of any of the next two account in the opening balance entered in the budget estimates of any of the next two following years, the Chairperson may sanction the expenditure of such budget-grant or the unexpended portion thereof during the next two following years for the completion of the purpose or object for which the budget-grant was originally made and not for any other purpose or object.

The Chief Auditor shall conduct a monthly examination and audit of the accounts of the Council and shall report thereon to the Chairperson, who shall publish monthly an abstract of the receipts and expenditure of the month last proceeding signed by him and by the Chief Auditor.

The Chairperson may also, from time to time and for such period, as he may think fit, conduct independently any examination and audit of the accounts of the Council.

For the purpose of examination and audit of the accounts of the Council, the Chief Auditor shall have access to all the accounts of he Council and to all records and correspondence relating thereto.

The Chief Auditor shall audit the accounts of the Council with the assistance of the officers and other employees subordinate to him.

In the discharge of his functions under this section the Chief Auditor shall, -

The Chief Auditor shall examine and audit the statement of accounts relating to the commercial services conducted in any department of the Council including the trading, manufacturing and profit and loss accounts, and the balance-sheets where such accounts are maintained under the orders of the Council and shall certify and report upon these accounts.

The Chief Auditor shall in consultation with the Chairperson and subject to any directions given by the Council determine the form and manner in which his reports on the accounts of the Council shall be prepared and shall have authority to call upon any officer of the Council to provide any information necessary for the preparation of these reports.

The Chief Auditor may make such queries and observations in relation to any of the accounts of the Council which he is required to audit and call for such vouchers, statements, returns and explanation in relation to such accounts as he may think fit.

Every such query or observation as aforesaid shall be promptly taken into consideration by the officer or authority to whom it may be addressed and returned without delay with necessary vouchers, documents or explanations to the Chief Auditor.

The power of the Chief Auditor with regard to the disapproval of, and procedure with regard to the settlement of objections to expenditure from the revenues of the Council shall be such as may be prescribed by the Chairperson in consultation with Chief Auditor, and with the approval of the Council.

If the Chief Auditor considers it desirable that the whole or any part of the audit applied to any accounts which he is required to audit shall be conducted in the offices in which those accounts originate he may require that those accounts, together with all books and documents having relation thereto, shall at all convenient times be made available in the said offices for inspection.

The Chief Auditor shall have the power to require that any books or other documents relating to the accounts he is required to audit shall be sent for inspection by him:

Provided that if the documents are confidential, he shall be responsible for preventing disclosure of their contents.

The Chief Auditor shall have authority to frame standing orders and to give directions on all matters relating to audit, and particularly, in respect of the method and the extent of audit to be applied and the raising and pursuing the objections.

Expenditure sanctioned by the Chief Auditor shall be audited by an officer to be nominated by the Council.

The Chief Auditor shall report to the Chairperson any material impropriety or irregularity which he may at any time observe in the expenditure or in the recovery of money due to the Council or in the accounts of the Council.

The Chairperson shall cause to be laid before the Council every report made by the Chief Auditor to the Chairperson and every statement of the views of the Chief Auditor on any matter affecting the exercise and performance of the powers and duties assigned to him under this Act and the council may take such action in regard to any of the matters as aforesaid as the Council may deem necessary.

As soon as may be after the commencement of each year, the Chief Auditor shall deliver to the Council a report of the entire accounts of the Council for the previous year.

The Chairperson shall cause the said report to be printed and shall forward as soon as may be printed copy thereof to each member of the Council.

The Chairperson shall also forward without delay to the Government so many copies of the said report, as may be required by the Government with a brief statement of the action taken or proposed to be taken if any:

Provided that the Government may at any time appoint auditor for the purpose of making a special audit of the General Account of the New Delhi Municipal Fund and reporting thereon to the Government and the costs of such audit, as determined by the Government, shall be chargeable to the New Delhi Municipal Fund. The auditor so appointed may exercise any power which the Chief Auditor may exercise.