A. Advisory Board: The Board of Trustees shall furnish to the Advisory Board that portion of any proposed budget, report or audit filed or received by the Board of Trustees pursuant to either chapter 6, article 6, New Mexico Statutes Annotated or the Audit Act that relates to expenditure of occupancy tax funds within ten (10) days of the filing or receipt of such proposed budget, report or audit by the Board of Trustees.
B. State Division: The Board of Trustees shall report to the Local Government Division of the State Department of Finance and Administration on a quarterly basis any expenditure of occupancy tax funds pursuant to sections 3-38-15 and 3-38-21, New Mexico Statutes Annotated and shall furnish a copy of this report to the Advisory Board when it is filed with the Division. (Ord. 274, 7-9-1996)