SADC Financial Regulations Effective 1 April 2013 (h) outcomes and provisions are consistent with those specified in the approved Budget; (i) relevant SADC Regulations, Policies and Procedures are being complied with; “Internal Auditor” means the Head of Internal Audit with responsibility to supervise internal audit operations of SADC; “In-year Reporting” means ad-hoc; and monthly; and quarterly performance reports concerned with both financial and non-financial targets. In-year reports exclude Annual Financial Statements and the Annual Report; “Key Result Area (KRA)” means a division of the budget within a Vote that describes expected outputs for each operational objective. A Key Result Area may consist of one or more main activities to be carried out to achieve the KRA; “Loan Guarantee” means the SADC loan Guarantee; “Management” means the management structure comprising of the Executive Secretary, Deputy Executive Secretaries, and Directors; “Member States” means a member country of SADC in accordance with Article 9A of the Treaty; ‘‘Overspending’’ including “Overcommitting” (a) in relation to the budget of SADC, means causing the operational or capital expenditure incurred by SADC during a financial year to exceed the total amount appropriated in that year’s budget for its operational or capital expenditure, as the case may be; (b) in relation to a vote, means causing expenditure under the vote to exceed the amount appropriated for that vote; or (c) in relation to temporary budgets means causing expenditure to exceed the limits allowed under such temporary budgets; “Project Management Unit” means the project management unit set up for the purpose of executing SADC approved projects; “Records” means information established, recorded and kept by any means, includes all books, accounts, rolls, files, vouchers, receipts, cheques, records, registers, papers, documents, photographic plates, microfilms, photo static negative prints, tapes, disks, computer reels, diskettes and hard disk, perforated rolls, and any other type of written, printed, copied, magnetic tape, electronic data record or other information whatsoever, and all papers and other records relating to SADC accounting operations and practice; Page 11 of 100