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Valuers Bill

Miscellaneous - Financial provisions

96: Board’s financial statements

You could also call this:

"The Board must report how it spends and manages its money each year."

Illustration for Valuers Bill

The proposed law says you will have a new rule about the Board's money. The Board must finish its financial statements each year by 31 December. The financial statements will include the Board's financial position, income and expenditure, and a cash summary. You will see the Board's financial position as at 31 December each year. The Board's income and expenditure for the year will also be included. The cash summary will show all the money that came in and went out during the year. The Board must make sure all this information is ready for each financial year. This means the Board will have to keep track of its money carefully. The financial statements will help show how the Board is managing its money.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS641233.


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"The Board can invest spare money in a bank or other safe place."

Part 4Miscellaneous
Financial provisions

96Board’s financial statements

  1. The Board must ensure that financial statements of the Board are completed in relation to each financial year ending on 31 December.

  2. The financial statements must comprise—

  3. a statement of financial position of the Board as at 31 December in the financial year; and
    1. a statement of income and expenditure for the financial year; and
      1. an itemised cash summary for the financial year.