(A) As soon as reasonably possible after its organization, the Commission may prepare and present to each governing body an estimate of its monetary requirements until the end of the current fiscal year, showing in detail the various purposes for which the money will be needed. The governing bodies, after making modifications as they see fit, may approve a final budget for the Commission until the end of the current fiscal year and may appropriate funds sufficient to meet the budget. Thereafter the Commission shall annually (on or before March 1) file with the City Manager and the County Auditor an estimate of its requirements for the ensuing fiscal year, an annual financial report for the past year, and such other information as the officials may need in connection with their presentation to the governing bodies of the budget estimate required by law.
(B) Vance County will provide 50% of the funds of the jointly approved budget and the City of Henderson will provide 50% of the funds of the jointly approved budget.
(Ord. 20, passed 3-7-1983)