sec.13Budget

### sec.13 Budget A trust must propose and adopt a budget for each financial year. In proposing the budget the trust must estimate for the financial year concerned— the amount of revenue; and the expenditure from revenue, including, specifically, expenditure for the undertaking or maintenance of works; and the expenditure from loan funds for the undertaking or maintenance of works; and the amount payable for interest on, or redemption of, loans; and the amounts to be transferred from the general fund to any reserve account established under section 12 (4) . Also, in proposing the budget— all expenditure not approved by the Treasurer to be met from loans must be allocated to revenue; and the estimate of revenue must be sufficient in amount to balance with the expenditure allocated under paragraph (a) . A trust must give a copy of its adopted annual budget to the chief executive on or before the day prescribed by regulation. A trust must follow its budget in its expenditure from revenue and loan funds and, as far as possible, balance the expenditure with the budget. s 13 amd 1959 8 Eliz 2 No. 27 s 4; 1968 No. 29 s 4 ; 1977 No. 5 s 9 ; 1985 No. 111 s 9 ; 1992 No. 15 s 13 sch ; 1997 No. 78 s 104 sub 2014 No. 64 s 40 (sec.13-ssec.1) A trust must propose and adopt a budget for each financial year. (sec.13-ssec.2) In proposing the budget the trust must estimate for the financial year concerned— the amount of revenue; and the expenditure from revenue, including, specifically, expenditure for the undertaking or maintenance of works; and the expenditure from loan funds for the undertaking or maintenance of works; and the amount payable for interest on, or redemption of, loans; and the amounts to be transferred from the general fund to any reserve account established under section 12 (4) . (sec.13-ssec.3) Also, in proposing the budget— all expenditure not approved by the Treasurer to be met from loans must be allocated to revenue; and the estimate of revenue must be sufficient in amount to balance with the expenditure allocated under paragraph (a) . (sec.13-ssec.4) A trust must give a copy of its adopted annual budget to the chief executive on or before the day prescribed by regulation. (sec.13-ssec.5) A trust must follow its budget in its expenditure from revenue and loan funds and, as far as possible, balance the expenditure with the budget. - (a) the amount of revenue; and - (b) the expenditure from revenue, including, specifically, expenditure for the undertaking or maintenance of works; and - (c) the expenditure from loan funds for the undertaking or maintenance of works; and - (d) the amount payable for interest on, or redemption of, loans; and - (e) the amounts to be transferred from the general fund to any reserve account established under section 12 (4) . - (a) all expenditure not approved by the Treasurer to be met from loans must be allocated to revenue; and - (b) the estimate of revenue must be sufficient in amount to balance with the expenditure allocated under paragraph (a) .