Trinity College Act 1979

The Council shall cause to be kept proper accounts and records of the transactions and affairs of the College and shall do all things necessary to ensure that all payments of moneys are correctly made and properly authorized and that adequate control is maintained over the assets of the College and over the incurring of liabilities by the College.

The Council shall cause the accounts of the College to be audited once in each year by a registered company auditor.

The annual accounts of the College shall be open for inspection at such times and places and subject to such conditions as the Council thinks fit by members of the College and by such other persons as the Council from time to time determines.

The Bursar shall as soon as practicable after the end of each financial year present to a meeting of the Council such audited income and expenditure accounts, balance-sheets and reports as properly record the affairs of the College during that financial year.

As soon as practicable after the accounts, balance-sheets and reports presented under sub-section (4) of this section to a meeting of the Council are approved by the Council, the Council shall send a copy of the accounts, balance-sheets and reports to the Archbishop in Council of the Diocese of Melbourne.