Fiscal Affairs. a. Fiscal Agent The Board shall have the power to contract with a Fiscal Agent, or a Member District to act as the Fiscal Agent on behalf of the Organization. The Fiscal Agent must meet all the legal requirements of the Member Districts. If the Board contracts with a Fiscal Agent, the Fiscal Agent shall handle all fiscal affairs of the Organization within the construct of the approved budget and shall make reports as requested by the Board. b. Financing The Board, or the Fiscal Agent, with the Board's approval, shall be empowered to finance the special education program implemented pursuant to this Agreement as follows i. By applying for, receiving, and administering Federal and State aid and reimbursements for programs carried out by the Organization. ii. By quarterly payments by Member Districts based on each individual Member District's student population and/or on the amount of time needed by individual Member Districts. iii. By receiving grants and gifts. c. Benefits Nothing contained herein shall prevent any Member District from applying separately for any benefit to which it may be entitled to itself. d. Records The Organization shall maintain records, disburse funds, and accept receipts in accordance with the budget. e. Reimbursable Expenses Reasonable expenses of the Organization shall be reimbursed at actual cost, and must be itemized with receipts, as appropriate. Mileage expense reimbursable at the prevailing IRS rate for business mileage.
Appears in 1 contract
Samples: Joint Powers Agreement
