South Australian Numbered Acts South Australian Numbered Acts11—Substitution of Part 2 Division 3 and Part 3
Part 2 Division 3 and Part 3—delete Part 2 Division 3 and Part 3 and substitute:
Division 3—Financial matters and annual reports
23—Annual budget
(1) The Trust must, from time to time, prepare and submit to the Minister a budget for the next financial year or for some other period determined by the Minister.
(2) The budget must set out estimates of the Trust's receipts and expenditures for the period to which the budget relates.
(3) The budget must conform with any requirements of the Minister as to its form and the matters to be addressed by the budget.
(4) The Minister may approve a budget submitted under this section with or without modification.
(5) Subject to subsection (6), the Trust must not, without the consent of the Minister, make an expenditure that is not provided for by a budget that has been approved by the Minister under this section.
(6) The Trust is not required to have the approval of the Minister with respect to the expenditure of money received by the Trust by way of a testamentary or other gift.
24—Accounts and audit
(1) The Trust must cause proper accounting records to be kept in relation to the financial affairs of the Trust, and must have annual statements of account prepared in respect of each financial year.
(2) The accounting records and the statements of account must comply with—
(a) any instructions of the Treasurer under section 41 of the Public Finance and Audit Act 1987 ; and
(b) any further requirements imposed by the Auditor-General.
(3) The Auditor-General may at any time audit the accounts of the Trust and must audit the annual statements of account.
25—Annual report
(1) The Trust must, on or before 30 September in every year, forward to the Minister a report on the work and operations of the Trust for the preceding financial year.
(2) The report must contain the audited statements of account of the Trust for the preceding financial year.
(3) The Minister must, within 12 sitting days after receiving a report under this section, have copies of the report laid before both Houses of Parliament.