—(1) A Town Council shall establish and maintain separate funds for the management and maintenance of the common property of --
market and food centres;
other commercial property; and
such other categories of property as may be determined by the Town Council.
(2) All such funds shall together constitute the Town Council Fund.
—(1) A Town Council shall establish and maintain, as part of the Town Council Fund, separate sinking funds for the management and maintenance of residential property, market and food centres, and of other commercial property.
(2) A Town Council shall stipulate the amount, which shall not be less than the amount prescribed under section 33(5) of the Act, of the conservancy and service charges paid, and of any grants-in-aid made, to the Town Council under sections 38 and 41 of the Act, to be paid into the respective sinking funds.
(3) A Town Council shall establish and maintain, as part of the Town Council Fund, separate revolving loan funds, from the surplus of revenue over expenditure or grants-in-aid made to the Town Council under section 41 of the Act, for the purpose of meeting expenditure under the loan schemes approved by the Town Council under rule 42.
—(1) For the purposes of section 33A(1) of the Act, the surpluses in —
any fund (other than a sinking fund) established for the management and maintenance of residential property, market and food centres and other commercial property within the Town shall be transferred to the sinking fund established for that residential property, market and food centres and other commercial property, respectively; and
any fund for the maintenance of parking places within the Town shall be transferred to the sinking fund established for the management and maintenance of residential property in the Town.
(2) Where a writ of election is issued in respect of any constituency --
the area of which forms wholly or partly the area of a Town; or
part of which forms the area of a Town,
the Town Council for the Town shall, within 90 days after the issue of the writ, prepare and cause to be audited a full and particular Statement of Transferable Surpluses showing the excess of revenue over expenditure in any fund (other than a sinking fund) of the Town Council relating to that area less --
the fixed assets owned by the Town Council on the day immediately before the writ is issued; and
the amounts necessary to meet any capital commitments made or entered into by the Town Council on or before that same day in relation to that area.
(3) In paragraph (2), "capital commitment", in relation to any area of a Town, means any one or more contracts made or entered into by the Town Council for that Town for the purpose of carrying out any improvement works within that area of the Town, whether or not those works have been completed and fully-paid for at the material time.
5. Each Head of Department shall furnish draft annual estimates to the secretary in accordance with the Budget Calendar as issued by the secretary from time to time in respect of the following:
the proposed establishment list for the following year which shall be examined by the Town Council; and
the expected and proposed income and expenditure under the heads enumerated hereunder by individual activity:
expenditure to be met from sinking fund; and
expenditure to be met from revolving loan fund.
6. The annual estimates shall be accompanied by explanations in respect of —
each new sub-head proposed;
the appreciable differences under each sub-head of income or expenditure between the estimate or revised estimate of the preceding year as well as actual expenditure of previous financial years and the proposed provision; and
the sinking fund to be expended, that is, the date on which any cyclical work is expected to commence and be completed, estimated total cost and amount to be expended during the next financial year.
7. No provision is to be made for “unforeseen expenditure”, “contingencies” or “sundries”; and small items not of a distinctive character should be grouped under a sub-head “miscellaneous expenses”.
8. In the case of non-routine or special works not annually recurrent which will extend over more than one year, there shall be shown not only the estimated charge for the following year, but also the original estimated expenditure and revised estimate (if any) for the whole works, the total amount actually expended and committed so far as known, and the total amount likely to be expended on the works up to the end of the current financial year.
—(1) The annual estimates approved by a Town Council shall include the following:
the establishment list showing the posts approved;
the approved income and expenditure under the heads enumerated by individual activity; and
the approved list of works proposed to be undertaken to be charged to sinking funds.
(2) The annual estimates for a financial year approved by a Town Council shall be published in the Gazette not later than 3 months after the commencement of the financial year.
—(1) Where provision is required as an addition to existing sub-heads, the appropriate application for supplementary funds shall be submitted early by the secretary, wherever possible, before the additional expenditure is committed, so as to give the Town Council sufficient time for consideration and approval.
(2) Supplementary estimates approved by a Town Council shall be published in the Gazette.
(3) An application may be made for provision of one or more of the following:
transfer from a sub-head to another sub-head within the same head;
transfer from a sub-head of one head to a sub-head of another head;
creation of a new head or sub-head either by transfer or new supplemental provisions; and
supplemental provision to an existing head or sub-head.
(4) The following and other relevant information, where applicable, shall be furnished to enable a Town Council to reach a decision without further reference to the department concerned:
the existing head or sub-head to which it is desired to transfer or supplement the sum originally budgeted and any supplement added since the first creation of the head or sub-head;
the actual expenditure and outstanding liabilities against the head or sub-head on the date when the application is made;
the reasons why the approved provision is insufficient and why the additional expenditure cannot be deferred until the following financial year;
the reasons why a new head or sub-head is necessary and why the need for it was not foreseen when the estimates were drafted and why the service cannot be postponed and included in the following year’s estimates;
the basis on which the required amount is calculated;
whether savings are available under another head or sub-head and, if so, to state the head or sub-head and the amount to be transferred and the reasons for availability of the savings; and
the reasons why a supplemental provision is necessary.
—(1) When an application for provision of funds is submitted, the total cost of the scheme, proposal or project should be indicated by such breakdown as is appropriate.
(2) Where the full cost of any scheme, proposal or project includes works, materials and services provided partly by any outside contractor, or partly or wholly from a Town Council’s own resources, the full cost of the scheme shall be broken down to show the cost of each part.
(3) The part referring to the cost of a Town Council’s own contribution to the works shall state the source or the contributing department.