SADC Financial Regulations Effective 1 April 2013 Regulation  29  -­‐  Annual  Budget  Statement     1. The Accounting Officer shall issue an Annual Budget Statement assessing the extent to which it is consistent with the approved Medium Term Strategic Plan, RISDP and SIPO priorities. 2. The Annual Budget Statement shall also: a) assess SADC’s absorptive capacity relative to the resources in the proposed Budget; b) assess the current year’s actual expenditure and projected outturn for the period against the current year’s approved Budget; c) assess sustainability of funding to the programmes; d) assess the underlying challenges and measures to overcome them; e) assess the emerging opportunities and efforts to position SADC to take full advantage of them, and f) recommend the annual budget for approval by Council. Page 44 of 100