South Australian Current Acts

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LOCAL GOVERNMENT FINANCE AUTHORITY ACT 1983 - SECT 22

22—Financial management

        (1)         The Authority must, in the exercise and performance of its powers and functions, act in accordance with proper principles of financial management and with a view to avoiding a loss.

        (2)         Any surplus of funds remaining after deduction or allowance for the costs of the Authority, and for any liability under section 31A, may—

            (a)         be retained and invested by the Authority; or

            (b)         be distributed amongst the councils and prescribed local government bodies with which the Authority has entered into financial arrangements; or

            (c)         be applied for the benefit of any council or prescribed local government body or for any other local government purpose,

as the Authority thinks fit.



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