Budget, accounting

(1) BaFin shows the income expected to accrue and the expenditure to be made in its administrative area in a budget, including a staffing plan. The financial year is the calendar year. The provisions of the Federal Budget Code applicable to legal persons directly subordinate to the Federation apply to payments, bookkeeping and accounting.
(1a) In drawing up the budget, BaFin observes, in particular with regard to the staffing plan, to a particular degree the principles of economy and thrift. The necessity of the established posts and other posts in the budget must be reviewed where there is cause to do so, and otherwise regularly. In doing so, the nature and extent of task performance must in particular be reviewed.
(2) The budget is drawn up by the President. The President must submit the draft budget to the Administrative Council without delay. The budget is adopted by the Administrative Council.
(3) After the end of the financial year, the President must draw up an account of BaFin's income and expenditure. Discharge of the President is granted by the Administrative Council with the Ministry's consent.
(4) Where the account shows a surplus, it may, with the Administrative Council's consent, be carried forward to the following financial year. Instead of carrying it forward, a reserve for future investment projects may be formed in the amount of the surplus. Forming the reserve requires the Administrative Council's consent to be effective.
(5) The examination of the account and of budget and economic management is to be carried out, without prejudice to an examination by the Federal Court of Auditors under section 111 of the Federal Budget Code, by the body determined in the articles. The results of the examination are to be forwarded to the President, the Administrative Council and the Ministry, and to the Federal Court of Auditors.