Sri Lanka Consolidated Acts

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Colombo Bible College (Incorporation) Act (No. 32 of 1971) - Sect 23

Balance sheet

12. The College shall cause proper books of accounts to be kept in respect of all sums of money received or expended by the College and the particulars of the sums of money received or expended by the College and all financial transactions of the College.
Balance sheet.
14.
(1) The Council of Management shall submit at the Ordinary General Meeting of the College a balance sheet and statement of accounts prepared up to the 31st of March immediately preceding or such other date as may be determined by the Council of Management and also a report of the state of the College up to that date. The balance sheet, statement of accounts and the report stall be signed by at least two members of the Council of Management and the Secretary and the Treasurer or in such other manner as the Council of Management may direct. A copy of such balance sheet, statement of accounts and the report shall be sent to each member of the College at least seven days before the Ordinary General Meeting.
(2) Every balance sheet and statement of accounts when audited and approved at an Ordinary General Meeting, shall be conclusive except for errors discovered after the approval. Such shall be corrected within two months after the approval.

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