(1) The revenues of the Council shall consist of-

     (a)     fees that the Council may charge for services it may render;

     (b)     grants and donations that the Council may receive; and

     (c)     income that the Council may receive from rentals or sale of land, building or published materials.

            (2) The Council shall use the funds acquired under subsection (1) to meet the costs incurred in its operations and shall use any surplus accrued for such purpose as it may determine.

43.     Financial year

            The financial year of the Council shall be a period of 12 months ending on the 31st of December of every year.

44.     Accounts and audit

            (1) The Council shall keep and maintain proper books of accounts and records of accounts in respect of every financial year relating to the assets, liabilities, income and expenditure of the Council, and shall prepare, in each financial year, a statement of such accounts.

            (2) The accounts of the Council in respect of each financial year shall, within three months of the end thereof, be audited by an auditor appointed by the Council.

            (3) An auditor appointed under subsection (1) shall report in respect of the accounts for each financial year, in addition to any other matter on which the auditor considers it necessary to comment on, whether or not-

     (a)     the auditor has received all information and explanations which, to the best of the auditor's knowledge and belief, were necessary for the performance of the auditor's duties;

     (b)     the accounts and related records of the Council have been properly kept;

     (c)     the Council has complied with all the financial provisions of this Act with which it is the duty of the Council to comply; and

     (d)     the statement of accounts prepared by the Council was prepared on a basis consistent with that of the preceding year and represents a true and fair view of the transactions and financial affairs of the Council.

            (4) The report of the auditor and a copy of the audited accounts shall, within 14 days of the completion thereof, be forwarded to the Council by the auditor.

45.     Annual report

            The Council shall, within a period of six months of the end of the financial year, submit, to the Minister, a comprehensive report on the operations of the Council during that year, together with the auditor's report and the accounts audited under section 44.