Section 139. (1) A municipal committee shall, at the close of each year or of such other period as may, from time

139. (1) A municipal committee shall, at the close of each year or of such other period as may, from time to time, be fixed by the Local Government in this behalf, submit to the Local Government a statement of its receipts and disbursements, in such form as the Local Government may prescribe, and a general report of its proceedings during that period: Provided that separate accounts shall be submitted of— (a) all receipts of the water-tax, lighting-tax and scavenging-tax, and of all expenditure on the purposes for which those taxes are levied, respectively; and (b) all income under the heads mentioned in section 62, and all expenditure on educational purposes. (2) Accounts submitted under this section shall be examined or audited in such manner as the Local Government prescribes.