The records under Section 70 include:

Under Section 70 of the Punjab Environmental Protection and Enforcement Authority (PERA) Act, the Authority is required to maintain a complete record of its financial affairs. These records must cover both income and expenditure, as well as assets and liabilities. This provision ensures that every aspect of the Authority’s financial operations is transparent, traceable, and subject to oversight.

Income refers to all funds received by the Authority, such as government grants, fees, penalties, fines, rents, or any other lawful sources. Expenditure includes all outflows of funds used for enforcement activities, administrative operations, salaries, maintenance, and other lawful expenses. By documenting both, the Authority can demonstrate how public resources are being managed and spent responsibly.

Similarly, the inclusion of assets and liabilities in these records adds another layer of financial integrity. Assets may include property, vehicles, equipment, or funds held by the Authority, while liabilities refer to obligations, debts, or pending payments. Tracking both ensures that the Authority’s financial position is clear and that all resources and responsibilities are properly accounted for.

Maintaining such records also supports auditing and inspection by government or external auditors. Accurate and up-to-date financial records enable effective auditing, help prevent corruption or misappropriation of funds, and build public trust in the Authority’s operations.

Additionally, these financial records serve as a vital tool for planning and budgeting. Historical data on income, expenditures, assets, and liabilities allows the Authority to forecast future financial needs, plan enforcement actions effectively, and ensure the sustainability of operations.

In short, Section 70 promotes financial discipline, accountability, and transparency within the PERA Authority by requiring comprehensive record-keeping of income, expenditure, assets, and liabilities — forming the cornerstone of good governance and responsible fund management.