Application of Panchayat Fund & Property sec.goa.gov.in : Goa State Election Commission

Organisation : Goa State Election Commission
Facility : Application of Panchayat Fund & Property

Application of Panchayat Fund & Property : https://www.electionin.in/uploads/944-Goa%20Panchayat%20Raj%20Acts%20and%20Rules.pdf
Home Page : http://www.sec.goa.gov.in/index.php

Related: SEC Goa Sarpanch & Deputy Sarpanch Election Procedure : www.electionin.in/937.html

Panchayat Fund :

(1) There shall be for each Panchayat, a fund called Panchayat Fund.

The amounts at the credit of the Panchayat Fund shall be kept in any Scheduled Bank or a Co-operative Bank

(2) The following shall form part of, or be paid into the Panchayat Fund, namely:
(a) the amount which may be granted or passed on to the Panchayat by the Government or the Zilla Panchayat under the provisions of this Act or any other Act, or on any other account;

(b) the proceeds of any tax, rate and fee imposed by the Panchayat; Inserted by the Amendment Act 43 of 2001.

(c) all sums received by the Panchayat by way of loans or contributions from the Government or any other authority or person or by way of gift;

(d) the rent or other income from, or sale proceeds of any immovable or movable property owned by or vesting in the Panchayat; and

(e) all other sums received from any source whatsoever.

Application of Panchayat Fund & property :

(1) Subject to the provisions of this Act and rules made there under and such general or special orders of the Government, all property owned by, or vested in the Panchayat under this Act and all funds received by it and all sums accruing to it under the provisions of this Act or any other law for the time being in force, shall be applied for the purposes for which by or under this Act, or any other law for the time being in force, powers are conferred or duties are imposed upon the Panchayat

Provided that no expenditure shall be incurred out of the Panchayat fund unless provisions therefore has been made in the budget of the Panchayat or funds are obtained by reappropriation duly approved except in such cases as may be prescribed.

(2) The Panchayat Fund shall also be utilized for the following purposes:—
(i) payment of salaries and allowances to the Sarpanch, Deputy Sarpanch, elected and co-opted members of the Panchayat, or members of any committee thereof and the staff of the Panchayat, subject to such rules as may be prescribed].

(ii) any amount falling due on any loan raised by the Panchayat;

(iii) with the previous sanction of the Chief Executive Officer, for any other purpose for which the application of such property or fund is necessary in public interest

Provided that any amount granted to the Panchayat by the Government or any person or local authority for any specific work or purpose shall be applied exclusively for such work or purpose and in accordance with such instructions as the Government may specify, either generally or specially in this behalf.

Panchayat may raise loans and form a sinking fund :
A Panchayat may, with the previous sanction of the Government and subject to the conditions imposed by it from time to time and subject to the execution of any work or for the purpose of carrying out any of the provisions of this Act and form a sinking fund in the prescribed manner for the repayment of such loans.

Zilla Panchayat may acquire, hold and dispose of property, etc. :
The power of every Zilla Panchayat to acquire, hold and dispose of property both movable and immovable whether within or without the limits of the area over which it has authority, to lease, sell or otherwise transfer any movable or immovable property which may have become vested in or been acquired by it, and to contract and to do all other things necessary for the purposes of this Act, which shall be subject to the rules made by the Government in this behalf

Provided that no lease of immovable property for a term exceeding five years and no sale or other transfer of any such property shall be valid unless such lease, sale or other transfer shall have been made with the previous sanction of the Government.