(a) Budget preparation, review, and action.
(1) Each urban district corporation must annually prepare and submit a budget to the Office of Management and Budget for review in accordance with the procedures and schedule established by the Office of Management and Budget.
(2) The Office of Management and Budget should meet with the board of directors to attempt to resolve any area of disagreement.
(3) The County Council considers and acts on the County Executive's recommended budget for the urban district corporation in accordance with the budget adoption procedures of the County Charter. The Council may consider any non-County funding available to the corporation in deciding the amount of County funding to approve. Unencumbered County funds estimated to remain in the corporation at the end of the fiscal year must be applied to the next annual corporation budget approved by the Council.
(b) Distribution; use of urban district funds.
(1) After the County Council has approved the urban district's budget, the Director of Finance must transfer those monies appropriated for use by an urban district corporation to the corporation in accordance with Section 11B-42(d)*. The transfer of funds to, and expenditure of funds by, the corporation is subject each year to the execution of an agreement between the County and the urban district corporation. This Chapter and any agreement executed under this subsection do not create or imply any continuing right of a corporation to public funding. The County in its discretion may terminate or refuse to renew any such agreement at the end of any fiscal year.
* Editor’s note—Chapter 11B was amended. See Sec. 11B-14(a)(4).
(2) An urban district corporation must use funds transferred under this Section only:
a. for the urban district from which they are obtained;
b. for the purposes of the urban district as set forth in this Chapter; and
c. in accordance with its articles of incorporation and bylaws and the agreement between the corporation and the County.
(3) The agreement between the County and the urban district corporation may provide for the County to provide goods or services to the corporation.
(c) Start-up funding. Any start-up funding that cannot be accommodated in the normal County budget cycle may be funded by a supplemental or emergency appropriation in accordance with law.
(d) Annual report and audit. An urban district corporation must maintain its books, accounts, and records and file with the Director of Finance an annual report. The books, accounts, and records must be open to inspection by the County during reasonable working hours. The corporation must also provide the County an annual independent audit by a certified public accountant, including a copy of any accompanying management letter. The time for submission of the annual report and audit must be stated in the agreement between the urban district corporation and the County.
(e) Evaluation. At least one year before an urban district corporation is scheduled to terminate under Section 68A-12, the Office of Legislative Oversight must evaluate the performance of the corporation. This evaluation should include a survey of property owners, businesses, and residents located in and around the urban district served by the corporation. (1987 L.M.C., ch. 2, § 2; 1993 L.M.C., ch. 16, § 1; 1993 L.M.C., ch. 24, § 1.)