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The Board may appoint such officers and employees and may contract with <br />such persons or firms as it considers necessary to carry out the purposes of this <br />Agreement. <br />Any Member Entity which provides or performs assigned duties pursuant to <br />this ARTICLE may be reimbursed by the Authority for services rendered on the <br />Authority's behalf. <br />ARTICLE XII <br />FISCAL YEAR <br />The first fiscal year of the Authority is the period from the date of this <br />Agreement through June 30, 1987. Each subsequent fiscal year of the Authority shall end <br />on June 30. <br />ARTICLE XIII <br />BUDGET <br />The Board shall adopt an annual budget not later than sixty (60) days before <br />the beginning of each fiscal year. <br />ARTICLE XIV <br />ANNUAL AUDITS AND AUDIT REPORTS <br />The Treasurer shall cause an annual financial audit to be made by an <br />independent Certified Public Accountant with respect to all Authority receipts, <br />disbursements, other transactions and entries into the books. A report of the financial <br />audit shall be filed as a public record with each Member Entity. The audit shall be filed <br />no later than required by State law. The Authority shall pay the cost of the financial <br />audit and charge the cost against the Member Entities in the same manner as other <br />administrative costs. <br />ARTICLE XV <br />ESTABLISHMENT AND ADMINISTRATION OF FUNDS <br />The Authority is responsible for the strict accountability of all funds and <br />reports of all receipts and disbursements. It shall comply with every provision of law <br />relating to the subject, particularly Section 6505 of the California Government Code. <br />The funds received from each Program shall be accounted for separately on a <br />full accrual basis. <br />-8- BCJPIA Joint Powers Agreement <br />