Cap. 638 Art. 26Financing and control of the College finances.

(1) The Board of Governors, through the Administrative

Council, shall during each financial year ensure the preparation and adoption of a budget of the revenue and expenditure of the College for the following year.

(2) The Board of Governors, through the Administrative Council, shall ensure that a three-year financial plan (reflecting the three-year strategic plan) is prepared, updated regularly and executed.

(3) The Board of Governors, through the Administrative Council, shall ensure the proper keeping of accounts and other records concerning its operations and transactions, and shall ensure that a relative statement of accounts is prepared for each financial year.

(4) The College accounts shall be audited by warranted qualified auditor or auditors appointed by the Board of Governors from time to time, while the financial administration of the College shall be subject to auditing by the Auditor General.

(5) The Board of Governors shall, by not later than six (6) months from the closing of each financial year, ensure that a copy of the audited statement of accounts, together with a report of the activities during that year of the College, is sent to the Minister together with a copy of the report made by the auditor or auditors about that statement, and the Minister shall without undue delay cause such statements and reports to be laid on the Table of the House.