The NBC was established in line with the mibian Broadcasting Act, Act 9 of 1991. In terms of this act the NBC is a juristic ... See more person. Its main source of funding is an annual state subsidy. Other sources of income are the sale of air time and programs, the issuing of yearly television licenses and the renting out of transmitters. Being a recipient of state subsidies, the NBC is accountable in the first instance, to its line Ministry, the Ministry of Information and Communication Technology, and in the second instance to the mibian Parliament, which in turn represents the mibian people. The Ministry of Information and Communication Technology tables and accounts for the NBC's budget in Parliament. In accordance with the Broadcasting Act, the NBC has to submit its fincial statements and accounts for auditing by the office of the Auditor-General on a yearly basis. In addition, each year before the tabling of the budget in the tiol Assembly the NBC Board has to furnish its line ministry with a report on its work during the previous fincial year, together with a balance sheet and a complete statement of its revenue and expenditure for the preceding fincial year.