Application of revenues

(1) Fifteen percent of the monthly revenues of a Board shall be paid monthly by the Board into an account established by the District Association of Water Boards for the District wherein the Board is situate. (2) The remaining eighty-five per cent of the revenues of a Board for any financial year shall be applied in defraying the following charges, (a) payment of the allowances of members of the (b) payment of the salary and allowances of staff (c) maintenance of the necessary infrastructure in respect of the Board’s area of water supply; (d) purchasing equipment and necessary to ensure a continuous supply of (e) the expansion of the Board’s water supply system and other projects related thereto; (f) any other expenditure authorized by the Board and chargeable to revenue account. (3) Any funds of a Board not immediately required to be expended in the meeting of any obligations, the discharge of any duties or the performance of any functions of the Board may be invested from time to time in such projects as the Board, with the approval of the Minister, may determine.