Consider the following statements regarding the Members of Parliament Local Area Development Scheme (MPLADS):

1. Funds released under the scheme must be used to create durable community assets.

2. A specified proportion of the funds must be utilised for the benefit of Scheduled Caste and Scheduled Tribe populations.

3. Any MPLADS funds left unspent within a financial year lapse and cannot be carried forward to the next year.

4. The district authority is required to inspect at least ten percent of the works undertaken under the scheme every year.

Which of the statements given above are correct?