Funding recipient must give Minister audited financial statements
21 Funding recipient must give Minister audited financial statements
For each financial year in which the funding recipient spends or retains any of the funding payment, the funding recipient must give to the Minister as soon as practicable, and in any event within 6 months, after the end of that year:
a written statement as to:
the amount spent by the funding recipient during that year out of the funding payment; and
the amount retained by the funding recipient out of the funding payment as at the end of that year; and
a report in writing and signed by the appropriate auditor stating whether, in the auditor’s opinion:
the statement is based on proper accounts and records; and
the statement is in agreement with the accounts and records; and
the expenditure referred to in subparagraph (a)(i) has been on the funded project.
This Act’s bill:Explanatory memorandumSecond reading speech
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