Section 3A
Preparation of annual estimates
of Statutory Bodies (Financial and Accounting Procedure) Ordinance, 1995
—
A statutory body shall, not later than the fifteenth day of October of each year, prepare detailed estimates of the revenue and expenditure (both capital, operating and development, where applicable) of the statutory body for the next financial year, with the accompanying pro-forma balance sheet, profit and loss account and cash flow statement showing sources and disbursements of fund among others.
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(2)
Such estimates and accompanying documents shall be prepared in such form and manner as may be prescribed by the State
Financial Authority and the draft of such estimates and accompanying documents shall be tabled and adopted by the Board or members of the statutory body.
(3)
Once adopted in accordance with subsection (2), the draft estimates and accompanying documents shall be forwarded to the
Majlis Mesyuarat Kerajaan Negeri, not later than the thirtieth day of
November of each year for consideration and approval.
(4)
The Majlis Mesyuarat Kerajaan Negeri may approve, vary or reject any item of expenditure appearing in the draft estimates of a statutory body.
(5)
A statutory body shall be bound by the estimates approved by the Majlis Mesyuarat Kerajaan Negeri.