(1) Each Village Body and Municipality under the
Local Level shall have one Local Consolidate Fund. All revenues received by the
Village Body or Municipality, any amounts of grants received from the
Government of Nepal and the State Government, all loans raised by the Village
Body and Municipality, and amounts received from other sources shall be credited
to such a Fund.
(2) Matters relating to expenditures from the Local Consolidated Fund
under clause (1) shall be as provided for in the Local law.