(A) Maintenance of records.
(1) The Trustees shall maintain or cause to be maintained suitable records, data and information relating to its responsibilities hereunder. The Trust's books and records relating thereto shall be open to inspection and audit at reasonable times, subject to applicable law.
(2) The City Clerk or his or her designee shall serve as the secretary to the Trust.
(B) Independent audit. An independent audit of the Trust Fund shall be performed annually as part of the city's audit. The results shall be reported to the Trustees, the Program Administrator and the City Commission.
(C) Annual report. Each year, the financial statements of the Trust shall be included in the Comprehensive Annual Financial Report (CAFR) of the city.
(Ord. 1598, passed 12-3-07)