Victorian Consolidated Legislation

Transport Act 1983 - SECT 60

Corporations to prepare budgets

60. Corporations to prepare budgets



(1) Before such date as may be fixed by the Minister the Corporation shall
submit to the Minister an operating budget and a capital works budget for the
relevant financial year.



(2) The budget shall be in such form and contain such matter as is required by
the Minister after consultation with the Minister administering Part 7 of the
Financial Management Act 1994.



(3) The Minister shall consider the budgets submitted by the Corporation and
shall as soon as practicable advise the Corporation as to whether he approves
the budgets or approves the budgets as amended by him.



(4) The Corporation shall operate within the budgets as approved by the
Minister for the Corporation for the relevant financial year.





(5) Where, during the course of a financial year, a change has occurred in the
budgetary situation of the Corporation which, in the view of the Corporation
or of the Minister is judged to be a significant change, or where the Minister
deems it necessary, the Corporation shall submit to the Minister on its own
initiative or at the Minister's direction, a revised budget for the remainder
of the year and the Minister shall consider that revised budget and shall, as
soon as practicable, advise the Corporation as to whether he approves the
revised budget or approves a revised budget as amended by him.

(6) The Corporation shall operate within the revised budget, if any, from the
date that the revised budget is approved by the Minister for the remainder of
the financial year.



(7) The Corporation shall provide to the Minister in such form and containing
such matter and within such time or times as the Minister directs such
information as the Minister may request from time to time relating to the
budgetary position, finances, cash position, manpower position or other
factors relevant to the Corporation's operations or capital works programme
for the year or for any ensuing year or years.