Agmt97 Joint Powers agreement - Laserfiche WebLink

Browse Search

X. Funds and Budget A. Fiscal Year. The fiscal year for the Group shall January 1 through December 31. B. Annual Budget and Long Range Forecast. Not later than 30 days before the end of each fiscal year, the Board shall adopt by resolution a budget for the following fiscal year setting forth all anticipated administrative, operational, and capital expenses and sources of funds for the Group. In conjunction with its annual budget, the Board may adopt by separate resolution a long-range budget forecast estimating all anticipated administrative, operations and capital expenses and sources of funds for the Group for the next five years. C. Business Plan. The Board shall adopt a Business Plan to implement the purposes and powers enumerated in this Agreement. The Business Plan may require an initial contribution of funds from the Parties and an apportionment of expenses among the Parties. D. Revenue Allocation Plan. The Board shall adopt, and as may be required from time to time thereafter shall amend, a plan for the equitable allocation of revenues received by the Group. XI. Audit and Accounting Services A. Depository. The Board shall designate the Treasurer of one the Parties to be depository with custody of all Group funds from whatever source and to perform all functions to fulfill the requirements of Government Code section 6505.5. The Board shall set the amount of the bond required for the Treasurer. B. Auditor: The Board shall designate the Auditor of one of the Parties to perform the functions of Auditor for the Group. There shall be strict accountability of all funds. The Auditor shall either make or contract for an audit of the accounts and records of the Group at least annually as prescribed by section 6505 of the Government Code. The minimum requirements of the audit shall be those prescribed by the State Controller for special districts by Government Code section 26909. C. Secretary/Record-Keeping: The Board shall designate the Clerk of one of the Parties to perform the functions of Secretary and Custodian of Records for the Group. The Secretary/Record-Keeper shall take and maintain minutes of the meetings of the Board and the Executive Committee, post required public notices of meetings as well as performing other duties as assigned. XII. Disposition of Property and Funds Upon Termination of the Group A. Complete Transfer to Successor Entity. In the event of termination of the Group where there is a successor public entity which will carry on the activities of