Promotion of Access to Information Act, 2000
R 385
South African National Water Resources Infrastructure Agency SOC Limited Act, 2024 (Act No. 34 of 2024)Chapter 5 : Financial Matters, Reporting and Accountability32. Annual budget, long-term financial plan and corporate plan |
| (1) | The annual budget, long-term financial plan and corporate plan of the Agency must be submitted to the Minister, as the shareholder representative and executive authority, for approval. |
| (2) | The financial year of the Agency is for the period 1 April to 31 March in the following year, except that the first financial year of the Agency begins on the incorporation date and ends on 31 March. |
| (3) | The corporate plan must, in addition to the matters specified in the Public Finance Management Act, contain— |
| (a) | financial and performance indicators and targets considered by the Board to be appropriate, based on indicators and targets contained in the shareholder’s compact; |
| (b) | any other information that the Board considers necessary; and |
| (c) | such information as may be directed by the Minister. |
| (4) | In preparing or revising a financial and performance indicators and targets referred to in subsection (3), the Board must have regard to— |
| (a) | the shareholder’s compact entered into with the Minister; |
| (b) | the need to maintain the Agency’s financial viability; |
| (c) | the need to maintain reserves, at a level determined by the Minister from time to time, especially to provide for— |
| (i) | the development of national water resources infrastructure as instructed by the Minister; |
| (ii) | any estimated future demand for the services of the Agency; and |
| (iii) | any need to improve the accessibility of, and performance standards for, the services provided by the Agency; |
| (d) | the need to meet the developmental objectives of government and in accordance with sections 27(1)(b) and 27(2) of the Constitution; and |
| (e) | any other matter determined by the Minister. |
