MALAWI:   NON-GOVERNMENTAL ORGANISATIONS BILL, 2000                                                     MALAWI SDNP
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Funding of  
the Board 
27. (1) The funds of the Board shall consist of - 

a) any fees, fines and charges payable under this Act; and 

b) such other moneys and assets as may accrue to or vest in the Board by way of donation, loan or otherwise received by the Board 

28. The Board shall have power to borrow either temporarily, by way of overdraft or otherwise, such sums as it may require, for meeting its obligations 
or discharging its functions under this Act. 

Provided that any such borrowing shall be approved by the General Assembly

Investment of Surplus Money 
29. The Board may invest any money in such a manner as the Board 
may deem expedient. 
Financial Year  


30. The financial year of the Board shall be period of twelve months as 
the Board shall determine: 

Provided that the first financial year of the Board may be such shorter or longer period that twelve months as the Board shall determine but being not less than six months nor more than eighteen months. 

Accounts and  
31. (1) The Board shall keep proper accounts and other accounting records in accordance with the general accepted account principles and practice. 

(2) The accounts of the Board shall be audited annually by independent auditors appointed by the Board and approved by the General Assembly. 

32. (1) As soon as practicable, but not later that six months after expiry of each financial year, the Board shall submit to all members of the General Assembly and the Ministry responsible a report concerning its activities during that financial year. 

(2) The Report referred to in subsection (1) shall include information on the financial affairs of the Board, and there shall be appended to the report - 

a) an audited balance sheet 
b) an audited statement of income and expenditure; 
c) such other information as the Board may consider appropriate. 

B. No. 19
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