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purposes identified in Section 1(e) of this act. The Authority may accept contributions from <br />any source to be used for the purposes stated in Section (1)(e) of this act. <br />On or before April 1 of each year after the levy of the tax authorized in this act, the <br />Authority shall prepare an annual budget based upon anticipated revenues and shall submit the <br />budget to the Cabarrus County Manager for processing and approval through the regular budget <br />procedure of the County. The Authority shall make quarterly reports to the board detailing its <br />revenues, expenditures, and activities. The County may audit the Authority's financial records <br />upon reasonable notice to the Authority. At the end of eaeh fiseai yeaf, any funds of the <br />Gaba.-r County for its use <br />SECTION 5. This act is effective when it becomes law. <br />In the General Assembly read three times and ratified this the 9 day of July, 2010. <br />s/ Walter H. Dalton <br />President of the Senate <br />s/ Joe Hackney <br />Speaker of the House of Representatives <br />A number 2 <br />Page 2 Session l�{agv 2010 -79 SL2 A" number <br />