Before the 1st day of October in every year, the Board shall cause its accounts for the year that ended with the preceding 31st day of March to be balanced, and a full and true statement of accounts to be prepared of the amount of all rates made and levied, and all money received and expended, during that year, and of all debts owing by and to the Board at the end of that year.

Every statement so prepared shall forthwith be signed by the Chairman and Treasurer of the Board, and submitted by the Chairman to the Audit Office for audit.

Not later than 2 months after any audited statement has been received from the Audit Office, the Board shall hold either an ordinary meeting or a special meeting to consider the statement and the Audit Office report on it.

The Chairman shall endorse upon the statement, and the report on it, the fact that it has been considered by the Board and the date of the meeting at which it was so considered.

As soon as possible after the expiration of 2 months after any audited statement has been received by the Board, copies thereof and of the report of the Audit Office shall be made available for inspection at the office of the Board by any ratepayer, or any person holding any security charged upon the property of the Board, during office hours; and the Treasurer shall forthwith give public notice in one or more newspapers circulating in the district that the statement and report are available as aforesaid.”