All revenue from the foreign fire insurance tax shall be received by the Board and shall be deposited in the fund. The fund shall be managed, maintained, and overseen by the Board and shall be held and expended according to the following procedures:
(A) By December 1 of each year the officers of the Board shall approve a preliminary budget for the expenditure of the funds received pursuant to the foreign fire insurance tax. The officers of the Board shall, no later than February 1, adopt a final budget for the collection and expenditure of the foreign fire insurance tax; the budget shall be subject to the approval of the Village of Maryville Board of Trustees. The final budget may be amended at any time by a majority vote of the officers of the Board; any amendment shall be subject to approval of the Village of Maryville Board of Trustees. Expenditures shall be made only for items specifically described in the final budget as originally adopted or subsequently amended by the Board and approved by the Village of Maryville Board of Trustees.
(B) The Board shall have the power to approve the expenditure of money from the fund for items specifically described in the approved budget.
(C) Any expenditure made from the fund shall be made in accordance with village rules, regulations, practices and ordinances, as may be amended from time to time, which govern the procurement of goods and services.
(D) Prior to placing any item(s) and/or service which would be placed within any fire station(s) in the proposed budget, the Board shall submit a written statement to the Fire Chief stating the descriptions of the items and/or services and the proposed locations within any fire station(s). The Fire Chief has the absolute right to prohibit any such item(s) and/or service(s) to be placed or located into any fire station(s). If the Fire Chief decides to allow any such item(s) and/or service into any fire station, the Fire Chief shall also have the absolute right to prohibit the Board’s proposed physical location of any such item(s) or rendering of service in any fire station. The Fire Chief must respond in writing to any written statement of the Board within 30 days from his or her receipt of the statement and the Fire Chief must explain the basis for his or her decision(s). Upon the purchase of any approved items, title shall be placed in the name of the Village of Maryville.
(E) The Board may appeal, in writing, any decision of the Fire Chief rendered pursuant to division (D) above to the Mayor who shall issue his or her decision in writing within 21 days of his or her receipt of the Board’s written appeal. The decision of the Mayor shall be final.
(F) The treasurer of the Board shall:
(1) Have charge and custody of and be responsible for all funds collected by the Village of Maryville from the foreign fire insurance tax;
(2) Deposit all such monies in the name of the Foreign Fire Insurance Board for the Village of Maryville Fire Department in such banks, savings and loan associations, or other depositories as shall be authorized by the Village of Maryville Board of Trustees;
(3) Invest such funds as are not immediately required in such securities as the Village of Maryville Board of Trustees shall specify or generally designate from time to time;
(4) Maintain the financial books and records of the fund;
(5) Provide the Village Treasurer a monthly accounting of receipts and expenditures of the fund;
(6) Furnish a bond to the Village of Maryville in an amount equal to three times the amount of foreign fire insurance tax revenue to ensure the faithful performance of the Board treasurer of his or her duties imposed by law and by Board rules and regulations. Fees for the bond shall be paid from the funds collected from the foreign fire insurance tax;
(7) Pay the service charge levied by the Illinois Municipal League for the collection of the foreign fire insurance tax from the proceeds of the foreign fire insurance tax, provided such fee is chargeable by state law; and provided that the service charge has not already been retained by the Illinois Municipal League prior to disbursement of the tax funds.
(G) The officers of the Board shall provide to the Village of Maryville Board of Trustees an annual audit of the finances of the Board. The audit shall be performed at the end of each fiscal year in accordance with generally accepted auditing principles by a certified public accountant. In addition, the audit shall verify that expenditures by the Board are for the maintenance, use and benefit of the Fire Department. The annual report shall be delivered to the Mayor. The cost of said audit shall be paid from the funds collected from the foreign fire insurance tax.
(Ord. 2010-20, passed 9-1-10; Am. Ord. 2023-61, passed 11-1-23)