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a. Reports to the Chair on any and all SBWMA financial matters. <br />b. Serves as the SBWMA's treasurer and controller. <br />c. Receives and accounts for any and all SBWMA revenues. <br />d. Makes any and all SBWMA investments using sound and prudent investment <br />practices. <br />e. Disburses and accounts for any and all SBWMA funds. <br />f. issues or causes to be issued all revenue Bond payments, according to the <br />payment schedule as part of the Revenue Bonds. <br />g. Maintains any and all reserves, as may be required by the Revenue Bonds or <br />any other instruments. <br />h. Prepares, within one hundred twenty (120) days after the close of each Fiscal <br />Year, an annual financial report reflecting SBWMA financial activity, <br />including activity associated with the operations of the Facilities, whether such <br />operation is performed by the SBWMA directly or is contracted. <br />i. Prepares other financial statements and reports for the SBWMA, as needed. <br />j. Causes the annual financial report to be audited by an independent Certified <br />Public Accountant (CPA) currently licensed to practice in the State of <br />California. <br />k. Presents the audit report, including the associated management letter, to the <br />Board at the first scheduled Board meeting subsequent to the release of the <br />audit report. <br />8.8 Other Officers. The Board may create or eliminate other officers not specifically <br />mentioned in Sections 8.5-8.7 of this Agreement from time to time, as the Board deems <br />necessary, upon majority vote. Such officers shall serve without compensation. <br />8.9 Employee Status. None of the officers, agents, or employees employed or hired <br />by the SBWMA shall by reason thereof become officers, agents, or employees of any Member. <br />The SBWMA may contract with any Member for any services, upon a vote in accordance with <br />Section 10.8 of this Agreement, however, none of the Persons whose services are supplied by a <br />Member shall by reason thereof became an employee of the SBWMA. <br />8.10 Executive Director. The position of Executive Director is created. The <br />Executive Director is appointed by the Board and serves at the will of the Board. The duties of <br />the Executive director include, but are not limited to the following: <br />a. Administers any and all meeting agendas, including compliance with noticing <br />requirements and meeting locations, as provided under California Government <br />Code §54950-54962 (Brown Act). <br />b. Causes accurate minutes and records to be taken of all meetings in accordance <br />with California law, including, but not limited to California Government Code <br />§54957.2 et seq. <br />c. Has authority to appoint, remove, promote, demote, supervise, and determine <br />compensation of any and all SBWMA employees in accordance with Board <br />approved salary ranges. <br />d. Manages any and all SBWMA contracts or agreements, including but not <br />limited to, the Facilities operating agreement. <br />e. Approves any and all SBWMA payments in conformance with Board <br />approved appropriations. <br />Page 7 of 23 <br />