National Forests Act, 1998 (Act No. 84 of 1998)Chapter 5 : InstitutionsPart 2 : National Forest Recreation and Access Trust43. Administration of Trust funds |
| (1) | The Minister must appoint— |
| (a) | an official of the Department; or |
| (2) | The accounting officer must account for money received by and paid from the Trust and generally perform the work of the Trust connected with its records, accounts and balance sheets. |
| (3) | The accounting officer must before 31 October of every year submit a budget of the Trust's income and expenditure for the next financial year to the Minister for his or her approval. |
| (4) | The accounting officer may revise the budget during the course of a financial year. |
| (5) | The accounting officer may, with the consent of the Minister, invest Trust funds which are not needed for immediate use. |
| (6) | Any credit balance in the Trust funds at the end of a financial year must be carried forward to the next financial year in the budget of the Trust. |
| (7) | The financial year ends on 31 March. |
| (8) | The accounting officer must keep a record of— |
| (a) | the assets and liabilities of the Trust; and |
| (b) | the financial transactions of the Trust. |
| (9) | The accounting officer must, as soon as possible after the end of each financial year, draw up financial statements which must reflect the Trust's assets and liabilities at the beginning and end of the year and its income and expenditure for the year. |
| (10) | The records, accounts and balance sheets of the Trust must be audited every year by the Auditor-General at an agreed fee, or, in the absence of an agreement, at a fee determined by the Minister of Finance. |