The following terms and phrases - wherever mentioned in this regulation - mean the meanings shown in front of each, unless the context requires otherwise: 
Authority: Any of the regional and city development authorities, included under the provision of Article (2) of the Statute of Regional and City Development Authorities.
Council: Council of the Authority.
Committee: Executive Committee of the Authority.
Regulation: Financial Regulation of the Authority.
Chief Executive Officer: Chief Executive Officer of the Authority.
Guide of Authorities: Guide of Financial and Administrative Authorities.

The fiscal year of the Authority is the fiscal year of the State.

The Authority shall have an independent budget issued within the general budget of the state, and the Authority shall prepare the draft annual budget based on the estimation of expected revenues and expenses.

The competent administration in the authority is responsible for preparing the instructions for the preparation of the budget project according to the periods specified in the instructions received from the Ministry of Finance, based on the estimation of the authority's revenues and expenditures. These instructions are provided to all sectors and administrations, and their observations are noted - if any - and discussed, and their inquiries are responded to, in order to include the projects and programs in the annual budget project for approval by the CEO and presentation to the committee, in preparation for submission to the council for approval.

The Authority provides the Ministry of Finance with the budget project at the specified time for that.

If the new fiscal year begins and the budget has not been approved, the previous budget shall continue to be in effect by a decision of the Chief Executive Officer, according to the followed instructions.

The budget items are allocated after their approval and receipt from the Ministry of Finance.

It is permissible to amend the total budget allocations by increase or decrease according to the specified regulations for that, including the budget implementation instructions.