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 Orlando
 Code of Ordinances
 Title I. CHARTER
 Chapter 18. DOWNTOWN DEVELOPMENT BOARD ACT

  § 10. Board Records and Fiscal Management.  

Latest version.

  • The fiscal year of the Board shall coincide with that of the City.

    (1)

    All funds of the Board shall be received, held, and secured like other public funds by the appropriate fiscal officers of the City. The funds of the Board shall be maintained under a separate account, shall be used only for purposes herein authorized, and shall be disbursed only by direction of or with the approval of the Board pursuant to requisitions signed by the director or other designated chief fiscal officer of the Board and countersigned by at least one (1) other person who shall be a member of the Board. The Board shall pay the City as an operating expense the reasonable value of the services rendered by the City to the Board, as may be determined by the City Council.

    (2)

    The Board bylaws shall provide for maintenance of minutes and other official records of its proceedings and actions, for preparation and adoption of an annual budget for each ensuing fiscal year, for internal supervision and control of its accounts, which function the appropriate City fiscal officers may perform for its request, and for an external audit at least annually by an independent certified public accountant who has no personal interest, direct or indirect, in its fiscal affairs. A copy of the external audit shall be filed with the City Clerk within ninety (90) days after the end of each fiscal year. The bylaws shall specify the means by which each of these functions is to be performed, and, as to those functions assigned to Board personnel, the manner and schedule of performance.

    (3)

    No member or employee of the Board shall participate by vote or otherwise on behalf of the Board in any matter in which he has a direct financial interest or an indirect financial interest other than of the benefits to be derived generally from the development of the development area. Participation with knowledge of such interest shall constitute malfeasance and shall result, as regards a member, in automatic forfeiture of office, or as regards an employee, in prompt dismissal.

(Laws of Fla. ch. 71-810, § 10)