55
CurrentFinancial review
Part 5Property and finance
Division 3Finance
55 Financial review
(1)
The council must, in each year, adopt a budget for the university for the next year.
(2)
In framing the budget the council need not take account of amounts mentioned in subsection (4).
(3)
The council must control its spending as nearly as possible within the limits of the approved budget.
(4)
The council must undertake an annual review of—
(a)
amounts available, or expected to be available, to the university by way of bequest, donation or special grant; and
(b)
the spending of the amounts.
This Act’s bill:Explanatory memorandum
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