Section 14-30.5-5-8 - Watershed development commission annual budget; board approval; submitted to local governmental entities; nonreverting cumulative fund(a) The board of a watershed development commission shall do the following:(1) Prepare and adopt by majority vote an annual budget for the commission.(2) Submit the budget to each county, municipality, or agency appropriating money for the use of the commission.(b) After the board of a watershed development commission approves an annual budget, the commission may expend money only as budgeted unless a majority vote of the board of the commission authorizes the expenditure other than according to the budget.(c) Any appropriated amounts remaining unexpended or unencumbered at the end of a year become part of a nonreverting cumulative fund to be held in the name of the watershed development commission. The board of a commission may authorize unbudgeted expenditures from this fund by a majority vote of the board.(d) A watershed development commission is responsible for the safekeeping and deposit of money it receives under this chapter. The state board of accounts shall: (1) prescribe the methods and forms for keeping; and(2) periodically audit; the accounts, records, and books of each watershed development commission.
(e) The secretary-treasurer of the board of a watershed development commission may receive, disburse, and handle money belonging to the commission, subject to the following: (2) Procedures established by the board of the commission.Added by P.L. 251-2023,SEC. 13, eff. 7/1/2023.