(1) A District Council shall, on or before a prescribed day in each year submit to the Administrator an estimate of the income and expenditure of the Council for the next financial year in such form as may be prescribed.
     (2) The Administrator may, on or before a prescribed day, return the estimate of the Council with or without modifications.
     (3) When a budget is returned with modifications under sub-section (2), the Council shall consider the proposed modifications, take a decision thereon and report the same to the Administrator.
     (4) The budget estimate finally adopted by the Council shall be the budget of the District Council.
     (5) Any subsequent alteration in the budget or reappropriation or transfer of provision within the estimate shall be made with the approval of the Administrator.