Sec. 14.3. Reservation and construction.
The Town reserves all the powers and authority granted to municipalities by the Special District Act. The provisions of this Article shall be construed and applied to supplement the applicable provisions of the Special District Act.
a. Required annual report. Not later than September 1 of each calendar year, each District shall file an annual report (the "annual report") with the Town Clerk. The annual report shall reflect activity and financial events of the District through the preceding December 31 (the "report year"). The annual report shall include the following:
1. A narrative summary of the progress of the District in implementing its service plan for the report year;
2. Except when exemption from audit has been granted for the report year under the Local Government Audit Law, the audited financial statements of the District for the report year including a statement of financial condition (i.e., balance sheet) as of December 31 of the report year and the statement of operations (i.e., revenues and expenditures) for the report year. If exempt from audit, the District shall provide a copy of the Request for Exemption and the approval for the exemption;
3. Unless disclosed within a separate schedule to the financial statements, a summary of the capital expenditures incurred by the District in development of public facilities in the report year, as well as any capital improvements or projects proposed to be undertaken in the five (5) years following the report year;
4. Unless disclosed within a separate schedule to the financial statements, a summary of the financial obligations of the District at the end of the report year, including the amount of outstanding indebtedness, the amount and terms of any new District indebtedness or long-term obligations issued in the report year, the amount of payment or retirement of existing indebtedness of the District in the report year, the total assessed valuation of all taxable properties within the District as of January 1 of the report year and the current mill levy of the District pledged to debt retirement in the report year;
5. The District’s budget for the calendar year in which the annual report is submitted;
6. A summary of residential and commercial development in the District for the report year;
7. A summary of all fees, charges, taxes and assessments imposed by the District as of January 1 of the report year;
8. Certification of the Board that no action, event or condition enumerated in Section 14.4 (Material Modification below) has occurred in the report year; and
9. The name, business address and telephone number of each member of the Board and its chief administrative officer and general counsel, together with the date, place and time of the regular meetings of the Board.
b. Review of annual report. Annually, on a date established by resolution of the Town Board, the Town Board at a regular public meeting may review the annual reports received from each District. In the event the annual report is not timely received by the Town Clerk, notice of such default shall be given by certified mail by the Town Clerk to the Board of such District, at its last known address. The failure of the District to file the annual report within forty-five (45) days of the mailing of such default notice by the Town Clerk shall empower the Town Board to impose the sanctions authorized in Section 14.20 (Sanctions, below). The remedies provided for noncompliance with the filing of the annual report shall be supplementary to any remedy authorized by the Special District Act. (Ord. 791, 2005; Ord. 846, 2006)