Common use of EXECUTIVE DEVELOPMENT FUND Clause in Contracts

EXECUTIVE DEVELOPMENT FUND. The Department will issue a check to the Association in each fiscal year of this MOU in the amount of $200,000 starting in July of 2019 to be used exclusively for management training for employees of this Unit. The funds are to be used for programs specifically related to management, leadership, or executive development. Expenditures of these funds must be approved by both the Board of Directors of the Association and the Fire Chief prior to their use. The Association will be responsible for maintaining a record of expenditures which shall be subject to management audit.

EXECUTIVE DEVELOPMENT FUND. The Department will issue a check to the Association in each fiscal year of this MOU in the amount of $200,000 starting in July of 2019 to be used exclusively for management training for employees of this UnitUnit as follows: $50,000 upon approval of the 2016-2019 MOU; $100,000 in July 2017; and $150,000 in July 2018. The funds are to be used for programs specifically related to management, leadership, or executive development. Expenditures of these funds must be approved by both the Board of Directors of the Association and the Fire Chief prior to their use. The Association will be responsible for maintaining a record of expenditures which shall be subject to management audit.