Reserves Act 1977

Financial provisions

80: Expenditure of funds

You could also call this:

"Using reserve money for the right things"

Illustration for Reserves Act 1977

When you are in charge of a reserve, you get funds from the Reserves Act 1977. You must use these funds for the reserve, like buying or leasing it, managing it, and making it better. You can only use the funds for the reserve and not for anything else, unless the Act says you can. You might be in charge of more than one reserve, and if that happens, you can use money from one reserve to improve another. If you are looking after more than one reserve, you do not have to keep separate accounts for each one, but you must show how much money came from and was spent on each reserve, as stated in section 88.

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"Money management for people in charge of reserves"


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81: Unauthorised expenditure, or

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Part 4Financial provisions

80Expenditure of funds

  1. The funds of an administering body received under this Act shall, save as otherwise authorised or required by this Act or any other Act, be applied in purchasing, taking on lease, managing, administering, maintaining, protecting, improving, and developing the reserves under its control, and for no other purpose.

  2. Where pursuant to section 37 or section 38 an administering body is appointed to control and manage more than 1 reserve or a reserve and other land, then—

  3. money received from the separate areas may be used for the improvement and benefit of all those areas or any of them:
    1. the administering body shall not be required to keep separate books of account in respect of the separate areas under its control, but it may keep combined accounts and a statement regarding those combined accounts, but showing receipts and payments for each area, shall be sufficient for the purposes of section 88.
      Compare
      • 1953 No 69 ss 72, 73
      Notes
      • Section 80(1): amended, on , by section 3 of the Reserves Amendment Act 1985 (1985 No 188).