Section 8: Annual estimates, accounts and audit.

(1) The Council shall cause to be prepared, not later than 31 October in each year, an estimate of the expenditure and income of the Council during the next succeeding financial year and when so prepared, it shall be submitted to the Minister for approval.
(2) The Council shall keep proper accounts and proper records in relation thereto and the accounts shall be audited, as soon as may be, after the end of each financial year by auditors appointed from the list and in accordance with the guidelines supplied by the Auditor-General for the Federation and the fees of the auditors and the expenses of the audit generally, shall be paid from the funds of the Council.