Section 77 in The Waqf Act, 1995

Title: Waqf Fund

Description: 77. 1[Waqf] Fund.--(1) All moneys received or realised by the Board under this Act and all other moneys received as donations, benefactions or grants by the Board shall form a fund to be called the 1[Waqf] Fund. (2) All moneys received by the Board, as donations, benefactions and grants shall be deposited and accounted for under a separate sub-head. (3) Subject to any rules that may be made by the State Government in this behalf, the 1[Waqf] Fund shall be under the control of the Board, so, however, that the 1[Waqf] Fund under the control of common 1[Waqf] Board shall be subject to rules, if any, made in this behalf by the Central Government. (4) The 1[Waqf] Fund shall be applied to— (a) repayment of any loan incurred under section 75 and payment of interest thereon; (b) payment of the cost of audit of the 1[Waqf] Fund and the accounts of 2[auqaf]; (c) payment of the salary and allowances to the officers and staff of the Board; (d) payment of traveling allowances to the Chairperson, members, of the Board; (e) payment of all expenses incurred by the Board in the performance of the duties imposed, and the exercise of the powers conferred, by or under this Act; (f) payment of all expenses incurred by the Board for the discharge of any obligation imposed on it by or under any law for the time being in force. 3[(g) payment of maintenance to Muslim women as ordered by a court of competent jurisdiction under the provisions of the Muslim Women (Protection of Rights on Divorce) Act, 1986 (25 of 1986).] (5) If any balance remains after meeting the expenditure referred to in sub-section (4), the Board may use any portion of such balance for the preservation and protection of 4[waqf] properties or for such other purposes as it may deem fit. 1. Subs. by Act 27 of 2013, s. 4, for "wakf" (w.e.f. 1-11-2013). 2. Subs. by s. 4, ibid., for "wakfs" (w.e.f. 1-11-2013). 3. Ins. by Act 27 of 2013, s. 42 (w.e.f. 1-11-2013). 4. Subs. by s. 4, ibid., for "wakf" (w.e.f. 1-11-2013).

Title: Budget of Board

Description: (1) The Board shall in every year prepare, in such form and at such time as may be prescribed, a budget for the next financial year showing the estimated receipts and expenditure during that financial year and forward a copy of the same to the State Government. (2) On receipt of the budget forwarded to it under sub-section (1), the State Government shall examine the same and suggest such alterations, corrections or modifications to be made therein as it may think fit and forward such suggestions to the Board for its consideration. (3) On receipt of the suggestions from the State Government the Board may make written representations to that Government with regard to the alterations, corrections or modifications suggested by that Government and the State Government shall, after considering such representations, communicate, within a period of three weeks from the date of receipt thereof, to the Board its final decision in relation to the matter and the decision of the State Government shall be final. (4) On receipt of the decision of the State Government under sub-section (3), the Board shall incorporate in its budget all the alterations, corrections, modifications finally suggested by the State Government and the budget as so altered, corrected or modified, shall be the budget which shall be passed by the Board.

Title: Accounts of Board.

Description: The Board shall cause to be maintained such books of account and other books in relation to its accounts in such form and in such manner as may be provided by regulations.

Title: Audit of accounts of Board.

Description: (1) The accounts of the Board shall be audited and examined annually by such auditor as may be appointed by the State Government. (2) The auditor shall submit his report to the State Government and the report of the auditor shall, among other things, specify whether the accounts of every 1[waqf] under the direct management of the Board have been kept separately and whether such accounts have been audited annually by the State Examiner of Local Funds and shall also specify all cases of irregular, illegal or improper expenditure or of failure to recover money or other property caused by neglect or misconduct and any other matter which the auditor considers it necessary to report; and the report shall also contain the name of any person who, in the opinion of the auditor is responsible for such expenditure or failure and the auditor shall in every such case certify the amount of such expenditure or loss as due from such person. (3) The cost of the audit shall be paid from the 1[Waqf] Fund. 1. Subs. by s. 4, ibid., for "wakf" (w.e.f. 1-11-2013).

Title: State Government to pass orders on auditor's report

Description: The State Government shall examine the auditor's report and may call for the explanation of any person in regard to any matter mentioned therein, and shall pass such orders on the report as it thinks fit 1[and a copy of the said auditor's report, along with orders shall be forwarded by the State Government to the Council within a period of thirty days of laying of such report before each House of the State Legislature where it consists of two Houses or where such Legislatures consist of one House, before that House]. 1 Subs. by s. 43, ibid., for "as it thinks fit" (w.e.f. 1-11-2013).