Page:The Bonn Constitution (Basic Law FRG 1949).pdf/49

 :(c) to continue building projects, procurements and other services or to grant further subsidies for these purposes insofar as funds have already been approved by the budget of a previous year.

(2) Insofar as revenues from taxes, imports and other sources based on special legislation, or working capital reserves, do not cover the expenditures under paragraph (1), the Federal Government may realise by way of credits the funds necessary to conduct current operations up to one-fourth of the final sum contained in the previous budget.

Expenditure exceeding the budget and any extraordinary expenditures shall require the approval of the Federal Minister of Finance. They may only be given in case of an unforeseen and irrefutable necessity.

Decisions of the Bundestag and Bundesrat which increase the budget expenditure proposed by the Federal Government or include,or imply for the future, new expenditure, shall require the approval of the Federal Government.

The Federal Minister of Finance must present to the Bundestag and the Bundesrat an annual statement of all revenues and expenditures as well as of assets and liabilities. The audit thereof shall be carried out by an Audit Office (Rechnungshof) the members of which shall possess judicial independence. In order to secure a discharge for the Federal Government, the general statement of account and a survey of the assets and liabilities shall be submitted to the Bundestag and the Bundesrat in the course of the next fiscal year, together with the observationsof the Audit Office. The auditing of accounts shall be regulated by a federal law.