6.1 By 31st October in each year the Joint Committee shall agree a draft Annual Budget (which shall exclude the costs of the Joint Committee defined in Clause 5 above) for the following financial year which, in its opinion and based on the preceding year's actual spend, it reasonably requires to achieve its objectives.
6.2 The first such draft Annual Budget for the Joint Committee shall be prepared by 31st October [200 ].
6.3 The draft Annual Budget shall be sent for comment by the Executives of the Authorities who shall respond to the Joint Committee by 30th November in each year.
6.4 The Joint Committee shall receive and consider the comments of each of the Authorities and shall finalise and agree the Annual Budget by 31st December of each year or such other date as shall be agreed by Authorities and shall notify the Authorities.
6.5 Should an Annual Budget not be agreed by the Joint Committee by 31st December in any year, the previous year's Annual Budget, uplifted by RPI plus 2%, shall be deemed to have been agreed and shall be the Annual Budget for the following financial year until agreed otherwise by the Joint Committee.
6.6 The Annual Budget (including any contingency sum) shall not be exceeded without the prior approval of the Authorities.
6.7 Each of the Authorities shall irrevocably make available to the Joint Committee their share of the Joint Committee Annual Budget in accordance with Clause 9.1.
6.8 The [•] Authority shall be the Accountable Body for the Joint Committee Budget and shall prepare and keep accounts and shall make all accounts records and other documents available for inspection by any Authority on request.
6.9 Whenever any sum of money is recoverable from or payable by an Authority it may be deducted from any sum then due to that Authority under this Agreement and vice versa.