ARTICLE XII

Finance

     Section 1.

          (a)  Public money raised or received by the national government shall be deposited in a General Fund or special funds within the National Treasury.  Money may not be withdrawn from the General Fund or special funds except by law.

          (b)  Foreign financial assistance received by the national government shall be deposited in a Foreign Assistance Fund.  Except where a particular distribution is required by the terms or special nature of the assistance, each state shall receive a share equal to the share of the national government and to the share of every other state.

     Section 2.

          (a)  The President shall submit an annual budget to Congress at a time prescribed by statute.  The budget shall contain a complete plan of proposed expenditures, anticipated revenues, and other money available to the national government for the next fiscal year, together with additional information that Congress may require.  The Congress may alter the budget in any respect.

          (b)     No appropriation bills, except those recommended by the President for immediate passage, or to cover the operating expenses of Congress, may be passed on final reading until the bill appropriating money for the budget has been enacted.

          (c)  The President may item veto an appropriation in any bill passed by Congress, and the procedure in such case shall be the same as for disapproval of an entire bill by the President.

     Section 3.

          (a)  The Public Auditor is appointed by the President with the advice and consent of Congress.  He serves for a term of 4 years and until a successor is confirmed.

          (b)  The Public Auditor shall inspect and audit accounts in every branch, department, agency or statutory authority of the national government and in other public legal entities or nonprofit organizations receiving public funds from the national government.  Additional duties may be prescribed by statute.

          (c)  The Public Auditor shall be independent of administrative control except that he shall report at least once a year to Congress.  His salary may not be reduced during his term of office.

          (d)  The Congress may remove the Public Auditor from office for cause by 2/3 vote.  In that event the Chief Justice shall appoint an acting Public Auditor until a successor is confirmed.