This is an initial attempt at combining the financial analysis using partly the NHA (National Health Accounts) framework and the concepts of decentralization as viewed from the perspective of the local body. The study presents a scope for both empirical as well as theoretical discussion. Empirical by way of quantifying the shares of various categories and elucidating the reasons for the same. Simultaneously connecting this pattern with the degree of autonomy, as perceived by the decision makers, providing for the view of decentralization from the side of the local body. Theoretical by way of changes made in the NHA framework for combining the concepts of financing and decentralization. The fluidity in terms of the definitions can be further probed and challenged.