Laserfiche WebLink
operating budget proposal to be approved by resolution <br /> of the city council . If, during the year, major <br /> budget revisions become necessary, the council must <br /> approve such revisions by resolution. The operating <br /> budget should reflect those anticipated actual costs <br /> for loan account management and accounting procedures <br /> (including budget preparation and AIDC reporting) . <br /> The projected audit costs would be reflected in the <br /> budget. <br /> F. An annual audit shall be performed beginning one year <br /> after establishment of the revolving loan fund <br /> account. The city will select a private auditor in <br /> accordance with Attachment 0 of OMB Circular A-102. A <br /> reasonable contract shall be negotiated with the <br /> auditor on an annual basis. <br /> G. The administrative entity shall submit to the city <br /> council an annual loan activity report which includes <br /> a status of projects and how funds were used for the <br /> interval that the annual audit is submitted. Council <br /> minutes shall reflect acceptance (or requested <br /> correction) of such reports, and after council <br /> approval , the reports and audit shall be submitted to <br /> AIDC. <br /> H. Any changes or amendments to this plan will require a <br /> minimum of one advertised public meeting, a resolution <br /> adopted by the city council , and written approval from <br /> AIDC. <br /> -6- <br />