| 44. (1) The sources of revenue for the Assembly
to finance its operations
shall be those stated in the Third Schedule.
| (2) The Minister may, in
consultation with the Minister responsible for
finance, amend the Third Schedule.
(3) The Minister may, subject
to such terms and conditions as may be
(4) The distribution of Government
grants to the Assembly shall be done
| Secretariate of
|45. The Local Government Finance Committee shall have a
Secretariat which shall be headed by a Fund Administrator.
46. (]) The Assembly shall establish and maintain a general fund
| (2) The Assembly shall have power
to create such special funds as
it may deem necessary.
(3) The Assembly may, from time
to time, issue instructions with
|47. The Assembly shall open and maintain a bank account for all revenues
and other monies raised or received by it under this Act or any other
|48. The Assembly may, subject to the Finance and Audit Act, obtain
advance from a bank by overdraft:
| Provided that the prior approval of
the Assembly shall be obtained
in any case where -
(a) the amount of the overdraft required will exceed one sixth of the
previous years' recurrent revenue of the Assembly; and
(b) the overdraft is required for longer than
| Power to borrow
| 49. The Assembly may, subject to the Finance and Audit Act, raise
within Malawl of such amounts, from such sources, in such manner,
for such purposes and upon such conditions as the Minister, in
consultation -with the Minister responsible for finaince, may approve.
| 50. The Assembly may invest any portion of its monies may be
Government Treasury Bills or in other investments as approved by the
|51 (1) T'he Assembly shall, not later than ninety days before
commencement of the financial year next ensuing, prepare detailed
estimates of its revenue and expenditure for such financial year, and
shall submit such estimates to the Local Government Finance
Committee which may either approve the estimates as submitted or
disallow such estimates in whole or in part or refer such estimates
back to the Assembly for further consideration.
| (2) The Assembly may in any year prepare
and approve supplementary
estimates of revenue and expenditure and such estimates shall be
submitted for approval to the Local Government Finance
Committee which may approve or disallow the estimates either
wholly or in part.
|52. The Assembly shall not, except with the approval of the Local
Government Finance Committee, incur any expenditure which has
not been included in the approved estimates of the Assembly, but
may, with the approval of the Local Government Finance Committee,
make reallocations of any sum contained in such approved estimates.
|Accounts||53. (1) The Assembly shall keep proper books of accounts and
in relation thereto and shall balance its accounts for that year and
produce statements of final accounts within six months from the end
of each financial year.
| (2) The Assembly shall submit
the final accounts to the Local
Government Finance Committee which shall forward a copy to
the Auditor General
| 54. (1) The accounts of the Assembly shall be audited bv
General or an auditor appointed by him.
| (2) The Auditor General
may carry out surprise audit, investigations or
any other audit considered necessary.
(3) The Auditor General shall
give his report of the audited accounts to-
(c) the Assembly.
| 55. (1) After considering the report of the Auditor
General, the Local
Government Finance Committee shall have power to disallow any
item of expenditure which is contrary to this Act and to surchage-
a) the amount of any expenditure disallowed on the person
responsible for incurring or authorizing that expenditure;
(b) any sum which has not been duly brought intoaccount by the
(c) the amount of any -loss or deficiency upon any person by
(2) Any person aggrieved
by a disallowance or surcharge. made
Minister to give
|56. The Minister may, after consultation with the Minister responsible
finance, issue written instructions, not inconsistent with the provisions
of this Act, for the better control and efficient management of the
finances of the Assembly.
57. All external assistance Zo the Assembly shall, except assistance
|58. Any assistance to the Assembly from a Non-Governmental Organization
shall be approved by the Minister in consultation with the Assembly.
|Financial year||59. The financial year of the Assembly shall be the period beginning
1st day of July and ending on the 30th day of June in the following year.
| 60. (1) The Assembly may establish a superannuation fund
for the benefit
of officers on their retirement frorn service of the Assembly and
the dependents of deceased officers.
| (2) The Assembly may establish
a provident fund for the, payment
of gratuities to officers on their retirement from the service of the
Assembly and to the dependents of deceased officers.
(3) No pension, provident fund payment, gratuity or other allowance or
benefit payable under this section shall be assignableor transferable
or liable to be attached or levied upQn, for or in respect of any debt
or claim except a debt due to or a claim made by the Assembly.