Annual Budget:

  Every LA shall each year prepare and submit a budget for the next succeeding year and containing which estimate of the available income and details of the proposed expenditure for the year. The council finally considers and adopts the budget before the commencement of the year.

Supplementary Budget:

  The Mayor/Chairman may at any time prepare a supplementary budget and lay it before the council.

  The council may pass, modify or reject any of the items in any budget or supplementary budget or add any item thereto

Council Fund:

  Every LA shall, for its general financial purposes establish a fund- It includes

  1. The fines and penalties in respect of breach committed with in the area.

  2. All stamp duties and fees paid by or recovered from the inhabitants of the area.

  3. All stamp duties and fees paid by the inhabitants in the area in respect of license.

  4. All rates, taxes, duties, fees and other charges levied under the authority of the main ordinances and acts.

  5. General or special grants allocated to the council.

  6. All sums borrowed by the council in the excises of its powers under the ordinances and acts.