1. The Authority shall have a special independent budget, subject to the approval of the Board, which shall be submitted to the Ministry of Finance. The detailed revenues and expenditures of the Authority shall be set forth in a schedule annexed to the General Budget Appropriation Law. 2. The Authority shall prepare its final accounts and submit them to the Ministry of Finance for inclusion in the draft law approving the unified final account. 3. The fiscal year of the Authority shall consist of (12) twelve Gregorian months, commencing on 1 January and ending on 31 December of each year. 4. The Authority shall adopt accounting systems in accordance with the accounting principles applicable in the State and approved by the Board, provided that such systems are approved by the Cabinet. 5. The Board shall approve the financial policy governing budgetary transfers within the Authority’s budget, excluding assets, in accordance with the accounting principles applicable in the State, provided that such policy is ratified by the Cabinet. 6. Any surplus resulting from the execution of the annual budget shall be remitted in accordance with the provisions of the applicable Public Finance Law. 7. In the event that the Authority fails to meet its financial obligations, it shall submit the matter to the Cabinet, which shall decide on the matter as it deems appropriate.
Interpretation and application must be checked against the official text and current version.