law: 45. Preparation of budget of 1[auqaf] under direct management of the Board.-
  (1) The Chief Executive Officer shall prepare, in such form and at such time as may be prescribed, a budget in respect of the financial year next ensuing showing the estimated receipts and expenditure for each of the 1[auqaf] under the direct management of the Board, showing therein the estimated receipts and expenditure and submit it to the Board for its approval.
  (2) While submitting the budget under sub-section (1), the Chief Executive Officer shall also prepare statement giving details of the increase, if any, in the income of each 2[waqf] under the direct management of the Board and the steps which have been taken for its better management and the results accruing therefrom during the year.
  (3) The Chief Executive Officer shall keep regular accounts and be responsible for the proper management of every 2[waqf] under the direct management of the Board.
  (4) Every budget submitted by the Chief Executive Officer under sub-section (1) shall comply with the requirements of section 46 and, for this purpose, references therein to the mutawalli of the 3[waqf] shall be construed as references to the Chief Executive Officer.
  (5) The audit of accounts of every 2[waqf] under the direct management of the Board shall be undertaken by the State Examiner of Local funds or any other officer appointed by the State Government for this purpose, irrespective of the income of the 2[waqf].
  (6) The provisions of sub-sections (2) and (3) of section 47 and the provisions of sections 48 and 49 shall, in so far as they are not inconsistent with the provisions of this section, apply to the audit of accounts referred to in this section.
  (7) Where any 2[waqf] is under the direct management of the Board, such administrative charges as may be specified by the Chief Executive Officer shall be payable by the 2[waqf] to the Board: Provided that the Chief Executive Officer shall not collect more than ten per cent. of the gross annual income of the 2[waqf] under the direct management of the Board as administrative charges.