sec.64Budget

### sec.64 Budget The authority must prepare a draft budget for each financial year showing— estimates of receipts and expenditure for the year; and the purposes of estimated expenditure. The authority must submit the draft budget to the State Minister and the Commonwealth Minister for approval within the time, and in the form, required by the Ministers. The State Minister and the Commonwealth Minister must approve the draft budget (with or without modifications) within 60 days after the draft budget is submitted under subsection (2) . If the State Minister or the Commonwealth Minister does not approve the authority’s draft budget for a financial year under subsection (3) , the draft budget submitted by the authority is taken to be approved by the State Minister and the Commonwealth Minister. Subject to any financial agreement between the State and the Commonwealth, the authority must observe the budget approved under subsection (3) or (4) . s 64 amd 2022 No. 21 s 61 (sec.64-ssec.1) The authority must prepare a draft budget for each financial year showing— estimates of receipts and expenditure for the year; and the purposes of estimated expenditure. (sec.64-ssec.2) The authority must submit the draft budget to the State Minister and the Commonwealth Minister for approval within the time, and in the form, required by the Ministers. (sec.64-ssec.3) The State Minister and the Commonwealth Minister must approve the draft budget (with or without modifications) within 60 days after the draft budget is submitted under subsection (2) . (sec.64-ssec.4) If the State Minister or the Commonwealth Minister does not approve the authority’s draft budget for a financial year under subsection (3) , the draft budget submitted by the authority is taken to be approved by the State Minister and the Commonwealth Minister. (sec.64-ssec.5) Subject to any financial agreement between the State and the Commonwealth, the authority must observe the budget approved under subsection (3) or (4) . - (a) estimates of receipts and expenditure for the year; and - (b) the purposes of estimated expenditure.