During the financial transactions of the village development committee, the chairman should regularly supervise and monitor the following and keep information:-
(a) Whether the approved amount is within the approved limits for the specified services and works or not,
(b) Whether the financial transaction is in accordance with this regulation or not and whether the evidence of the transaction has been received or not,
(c) Whether or not accounts are kept in accordance with the prescribed format,
(d) whether the valuation of the property has been corrected and updated and protected or not,
(e) Whether or not the available resources, tools and assets are properly used and whether there is an arrangement for maintenance and protection in such a way that there is no loss or damage,
(f) Whether or not the program is conducted within the limits of the sanctioned cost expenditure. (G) whether the arrangement of keeping figures of target progress and cost expenditure is sufficient and reliable or not,
(h) Whether the periodic financial statement is prepared on time or not and whether it is submitted on time or not and whether the audit is done on time or not.