Section 7 of CoI : Section 7: District and Regional Funds

Explanation using Example

Example 1:

Scenario: The Autonomous District of Karbi Anglong in Assam

Explanation:

1. District Fund Creation: The Karbi Anglong Autonomous District Council (KAADC) receives various funds from the state and central government for the administration of the district. According to Section 7, all these funds are credited to a special account called the "District Fund."
2. Governor's Rules: The Governor of Assam issues specific rules on how the KAADC should manage this District Fund. These rules cover how money should be deposited, how it can be withdrawn, and how it should be kept safe.
3. Account Keeping: The KAADC must maintain its financial records in a format prescribed by the Comptroller and Auditor-General (CAG) of India, with the President's approval.
4. Audit: The CAG audits the accounts of the KAADC and prepares a report. This report is then submitted to the Governor of Assam, who presents it to the KAADC for review and action.

Example 2:

Scenario: The Autonomous Region of Chakma in Mizoram

Explanation:

1. Regional Fund Creation: The Chakma Autonomous Regional Council (CARC) receives funds for the administration of the Chakma region. These funds are credited to a "Regional Fund" as per Section 7.
2. Governor's Rules: The Governor of Mizoram sets rules for managing the Regional Fund. These rules dictate how money should be paid into the fund, how it can be withdrawn, and how it should be stored.
3. Account Keeping: The CARC must keep its financi...

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