(A) The Authority shall prepare budgetary information, expense reports and financial data as required in Public Act 57 of 2018, being MCL 125.4201 et seq.
(B) The Authority shall annually prepare a budget and shall submit it to the Village Council on the same date that the proposed budget for the village is submitted to the Village Council. The Authority shall not finally adopt a budget for any fiscal year until the budget has been approved by the Village Council. The Authority may, however, temporarily adopt a budget in connection with its operation and any improvements where required to do so by the ordinance authorizing the development and finance plan.
(C) The Authority shall submit financial reports to the Village Council at the same time and on the same basis as other departments of the village are required to submit reports. The Authority shall be audited annually, and copies of the audit report shall be filed with the Village Council.
(Prior Code, § 33.08) (Ord. passed 2-6-1990)