INFORMATION #2 EDSR 08-11-2008 - Laserfiche WebLink

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a. A budget shall be prepared by the Treasurer in accordance with the Statute. The Treasurer shall present the budget to the Board Members of the Authority for consideration each year at such time as established by the Authority. b. The budget shall include estimated revenues, the sources of all revenues, an estimate of the amount of money needed from the County, the costs of projects for the ensuing year, the estimated costs for staff personnel, the purposes to which money on hand is fo be applied, as well as the. general administrative and overhead costs estimated for the ensuing year, and any proposed levy. c. After full consideration of the budget, the Board Members shat) approve it, and the President of the Authority shall submit the budget to the Sherburne County Board of Commissioners. 4.3 Financial Statements -Financial statements of the Authority must be prepared, presented, .approved, and filed in accordance with all relevant statutes as amended or revised. By June l of each year, the Treasurer shall file a detailed financial statement with the Secretary of the Authority covering the financial operations of the Authority during the twelve (l2) month period ending on December 31 of the previous calendar_year. 4.4 Auditor -The Authority may use the Sherburne County Auditor /Treasurer's Office for auditing all financial statements, .and for providing staff assistance to the Treasurer for accounting and reporting. 4.5 Contracts and Procurement - a. All construction work and work of demolition and clearing, contracts for services or for repairs, maintenance and replacements, and every purchase of equipment, supplies or materials and contracts therefore shall be in accordance with the Statute and procurement policies, if any, established by resolution of the Authority. b. Approval of Contract by Attorney -Except for the purchase of expendable office supplies, no contract shall be made by the Authority through any Officer or employee except in writing approved as to form by the attorney for the Authority. c. Execution of Contracts -Unless otherwise directed by the Authority or required by the State or Federal agencies furnishing funds to the Authority, all contracts shall be executed on behalf of the Authority by any two (2) of the Officers of the Authority, including the Board Chair. 4.6 Disbursements - a. Federal Funds -All funds received from the Government of the United States or any of its agencies shall be disbursed and accounted for in accordance with the 06/118 Sherburne ('ounq- E.D.A. Bylnws Pnge 6 of 8