(1) Each rural municipality and municipality under the local level shall have a local accumulated fund. In such a fund, all types of revenue received by the rural municipality or municipality, grants received from the Government of Nepal and the provincial government, loan amount taken by the rural municipality or municipality and the amount received from other sources will be collected.
(2) Provisions related to expenses that can be made from the local accumulated fund as per sub-section (1) shall be in accordance with the local law.