Clause 35

A Town Council shall, within 3 months after the close of each financial year, prepare and submit financial statements in such form as the Auditor-General may direct in respect of that year to the auditor.

The financial year of a Town Council shall begin on 1st April of each year and end on 31st March of the succeeding year, except that the first financial year of a Town Council shall begin on the date of its establishment and shall end on 31st March of the succeeding year.