SADC Financial Regulations Effective 1 April 2013 Regulation  35  –  Adjustments  Budget   1. The Accounting Officer may recommend revisions to an approved annual budget through an “adjustments budget” to be approved by Council. 2. An adjustments budget: a) shall consider and either ratify or reject unforeseen and unavoidable expenditure; b) shall adjust the estimates of revenue and expenditure downwards if there is material under collection of revenue during the current year; c) may appropriate additional revenues and expenditures that have become available over and above those anticipated in the annual budget, but only to revise or accelerate spending programmes already budgeted for; d) may appropriate additional revenues and expenditures associated with signed finance agreements with Development Partners and where the receipt of funds will realistically occur during the current financial year; e) may authorise the utilisation of projected savings in one Vote towards spending under another Vote (shifting of funds); f) shall incorporate approved virements to date. 3. An adjustments budget shall be in the form set out in the financial procedures. 4. The Accounting Officer shall table an adjustments budget to the Council and an adjustments budget shall only be tabled within any prescribed limitations as to timing or frequency. 5. When an adjustments budget is tabled, it shall be accompanied by: a) an explanation on how the adjustments budget affects the annual budget and the objectives in the annual budget including a motivation for any material changes to the annual budget and or objectives in the budget; and b) an explanation of the impact of the adjustment budget on the annual budgets for the next two financial years and objectives of those budgets. Page 51 of 100