07. Red River Regional Dispatch Center Joint Powers Agreement review

27 Version Oct 13, 2022 ARTICLE VIII. FINANCE/BUDGET Section 8.01 RRRDC AUTHORITY BOARD TO CONTROL FINANCES. The RRRDC Authority Board is responsible for the financial affairs of the Red River Regional Dispatch Center Authority. The RRRDC Authority Board must provide for the collection of revenues, the safekeeping of assets, the auditing and settlement of accounts, and the safekeeping and disbursements of public monies. Section 8.02 FISCAL YEAR. The fiscal year of the Red River Regional Dispatch Center Authority is the calendar year. Section 8.03 PREPARATION OF AND SUBMISSION OF THE BUDGET. An annual budget must be prepared and submitted to the RRRDC Authority Board by or before August 1 of each and every year of this Agreement in accordance with the following schedule: (a) The Director, with the assistance of the Executive Committee, shall prepare and submit an annual budget to the Budget & Finance Committee for review no later than May 15th; and, (b) Upon receipt and review thereof, the Budget & Finance Committee shall recommend and submit an annual budget to the RRRDC Authority Board for its consideration at its first regular meeting in June and the RRRDC Authority Board shall, upon receipt and consideration thereof, shall approve a preliminary annual budget and submit it to the Member Entities by June 30th; and, (c) Action on the annual budget by the RRRDC Authority Board shall be taken as set forth in this Article including, as provided in Section 8.04, adoption of an Approved Budget by resolution. The budget must provide a complete financial plan for Red River Regional Dispatch Center Authority funds and activities for the ensuing fiscal year. The budget is in a form recommended by the Director or specified by the RRRDC Authority Board with necessary modifications required by law. The budget must show estimated income and proposed expenditures, including debt service and comparative figures for the current fiscal year, actual and estimated, and for the preceding fiscal year. The budget must show proposed expenditures for current operations. The budget must show proposed capital expenditures for the ensuing year and the proposed method of financing those capital expenditures. The annual budget will include expenditures for debt service payments; however, expenditures for debt service payments, are not subject to annual appropriations of the Red River Regional Dispatch Center Authority. Section 8.04 RRRDC AUTHORITY BOARD ACTION ON THE ANNUAL BUDGET. The budget must be considered by the RRRDC Authority Board no later than the first regular meeting of the RRRDC Authority Board in June. The RRRDC Authority Board must consider the budget at subsequent meetings until an Approved Budget is adopted by an affirmative vote of the RRRDC Authority Board. The failure of the RRRDC Authority Board to approve an annual budget shall not impair, excuse, revoke, negate, or terminate the obligation of a Member Entity to provide for and make a debt service payment on a Debt Obligation. The sums appropriated by