Section 8: Financial provisions

(1) The Board shall cause to be prepared not later than 30th September in each year an estimate of the expenditure and income of the Board during the next succeeding year and when prepared they shall be submitted to the Minister.
(2) The Board shall cause to be kept proper accounts of the Square and proper records in relation thereto and when certified by the Board such accounts shall be audited as provided in subsection (3) of this section.
(3) The Board shall cause the accounts of the Square to be audited within six months after the end of the financial year to which the accounts relate by a firm of auditors appointed from the list and in accordance with the guidelines supplied by the Auditor-General for the Federation.
(4) The Board shall not later than 30 June in each year submit a report on the activities of the Square and its administration during the immediately preceding year and shall include in such report the audited accounts of the Board to the Secretary to the Government of the Federation who shall submit the report to the President.