BC 1981 01 19 - Laserfiche WebLink

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478 Be D. Reports The Commission shall make full and complete reports to the Participating Units within 60 days of the end of each fiscal year and at such other times as may be requested by any governing board of a Participating Unit and at such other times as to the Commission may seem desirable. Financing The Commission will be financed from funds appropriated to it by the Participating Units and from such other funds as are herein prgvided for. Each Participating Unit shall annually appropriate to the Commission funds sufficient in the aggregate to enable the Commission to fulfill its responsibilities under this Agreement. Ail funds shall be d~sbursed by the Treasurer of the Commission upon vouchers issued by the Commission and within the budget appropriations made. Ail vouchers will be signed by the Commission Chairperson and the Treasurer. Funds received by the Commission from sources ,other than appropriations from the Participating Units (fees, charges, rentals, concession profits, admissions,gifts, etc.) shall be deposited to the credit of and for the use of or by the Commission in its discretion and dis- bursed pursuant to the same procedures as appropriated funds are disbursed, except that funds received by gift, bequest or other- wise shall be disbursed in accordance with the terms of such gift or bequest, if any. The Participating Unit whose finance officer is ex officio Treasurer of the Commission and shall provide financial and accounting services as the Commission may require. The Commission shall, by February 1 of each year, prepare and submit a budget to the respective Recreation Commissions of the Participating Units. Those Recreation Commissions shall review the budget requests and forward the budget to the respective budget officers of the Participating Units for approval by the governing boar~ of the Participating Units. If any Recreation Commission fails to approve the budget as proposed by the Commission, the Commission and that Recreation Commission shall meet jointly to negotiate and approve a budget to be forwarded to the budget officers of the Participating Units. A Recreation Commission shall be deemed to have approved the budget as submitted if it shall not have notified the Commission in writing by May 1 that it declines to approve the budget as submitted. If any budget officer of a Participating Unit shall alter the recommended budget submitted by the Recreation Commission of his Participating Unit, then that Participating Unit's budget officer, Recreation Director and Chairman of its Recreation Commission shall meet with the Commission's Chairman and Park Director to negotiate and approve a budget recommendation to the Participating Unit's governing board. If any governing board of a Participating Unit shall not approve that Participating Unit's budget officer's recommended budget for the Commission, then the Commission, its Park Director and that governing board and its budget officer shall meet jointly to negotiate a final budget for the fiscal year in question. A governing board of a Participating Unit shall notify the Commission on or before July 1 in the event that it shall not approve the recommended budget for the Commission submitted by that Participating Unit's budget officer. Should the Commission decide that committed funds to continue operations are not available or are so uncertain to be forthcoming so as to drastically curtail or terminate the Commission's essential operations, the Commission shall recommend to each Participating Unit that this agreement be terminated and the Commission's affairs wound up. Each Participating Unit shall contribute and appropriate to the Commission its proportionate share of the Commission's annual budget, exclusive of all revenues derived from sources other than appropriations of the Participating Units, in a ratio