The Corporation shall develop, administer, and install procedures relating to accounting practices, control of expenditures, budgets, audits, and purchase of supplies. The fiscal year of the Corporation shall be July 1 to June 30, and its fiscal biennium shall be the period of two successive fiscal years beginning July 1 of each odd-numbered year. (Added 1961, No. 247, § 1, eff. July 28, 1961.)