CHAPTER TWENTY EIGHT
FINANCIAL PROVISIONS
ARTICLE 132
Budget
1.
There shall be a budget for the organs and institutions of the Community,
save for the self accounting institutions.
2.
Subject to this Treaty, a budget for the Community for each financial year
shall be prepared by the Secretary General for consideration by the Council and
approval by the Assembly.
3.
All expenditures of the Community in respect of each financial year shall
be considered and approved by the Council and shall be met from the budget.
4.
The budget of the Community shall be funded by equal contributions by
the Partner States and receipts from regional and international donations and
any other sources as may be determined by the Council.
5.
The resources of the Community shall be utilised to finance activities of
the Community as shall be determined by the Assembly on the recommendation
of the Council.
6.
The budget and accounts of the Community shall be kept and maintained
in United States dollars.
7.
The financial year of the Community shall run from 1st July to 30th June.
ARTICLE 133
Other Resources
Other resources of the Community shall include such extra budgetary
resources as:
(a)
grants, donations, funds for projects and programmes and technical
assistance; and
(b)
income earned from activities undertaken by the Community.
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