11. Annual Estimates

The Principal shall lay before the Board an estimate of revenue and expenditure of the Politeknik including capital expenditure for the ensuing financial year in such detail or form as the Board may require.

A copy of such estimate shall be sent to each member of the Board not less than fourteen days prior to the meeting before which the estimate is to be laid.

The Board shall consider the estimate so submitted and shall sanction the same either unaltered or subject to such alterations as it thinks fit.

Such estimate as sanctioned by the Board shall be submitted to the Minister, who may at any time, within one month after receipt of the same disallow such estimate, or any portion thereof, and return the same for amendment.

The Board shall, if the estimate is so returned by the Minister, forthwith proceed to amend the same, and shall re-submit the estimate so amended to the Minister.

The Board may, at any time during the year for which such estimate has been sanctioned, cause a supplementary estimate to be prepared and submitted to it.

Every such supplementary estimate shall be considered and sanctioned by the Board, and submitted to the Minister, and, if necessary, amended and resubmitted as if it were an original estimate.

The Board shall not incur expenditure otherwise than in accordance with estimates or supplementary estimates approved by the Minister.