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E <br /> i <br /> OUTSIDE AGENCY FUNDING POLICY <br /> 4 . Certain documentation is required from each agency in addition to the application packet <br /> as shown below. <br /> a . The agency's latest tax return ( Form 990) <br /> b . Copy of the Letter of Determination of the agency's nonprofit status (section 501 (c) (3 )) <br /> from the Internal Revenue Service , including Federal Identification Number. <br /> c. A statement of agency revenues and expenses for the most recent fiscal year. <br /> d . A balance sheet showing the assets , liabilities , and fund balances of the agency. <br /> e . Copy of the letter from the Florida Department of Agriculture & Consumer Services <br /> verifying that the agency has complied with the registration requirements of Chapter <br /> 496 , Florida Statutes , the Solicitations of Contributions Act. <br /> f. If the organization has an annual review, compilation , or audit completed by an <br /> independent certified public accountant, submit a copywith the application . <br /> g . In accordance with this policy, if an agency received $25 , 000 or more from the County <br /> for the prior year, then the agency must have an audit completed by an independent <br /> certified public accountant at the end of the agency's fiscal year. A copy of this audit <br /> must be submitted to the Indian River County Office of Management and Budgetwithin <br /> 120 days after the end of the agency's fiscal year. If an audit required by this policy for <br /> a previous year is past due and has not been submitted by May 1St , then any <br /> application for funding for the next year will be declined . <br /> 5 . Indian River County will accept applications for funding from nonprofit agencies during this <br /> time period only. If an agency submits an application for funding after May 1st, it will not be <br /> approved during the current funding cycle . This application maybe considered for the next <br /> fiscal year if requested by the agency. If any agency requests funding during the middle of <br /> a fiscal year, this request may only be funded in the following year through the normal <br /> application process . <br /> 6 . In September each year, the Board of Commissioners holds a Preliminary Budget Hearing <br /> and a Final Budget Hearing in order to legally adopt the Operating Budget for the next <br /> fiscal year. Each of these is a public hearing , and is advertised to the public prior to the <br /> meeting . Once the budget is legally adopted , the Budget Office will notify each agency of <br /> its allocation . <br /> C . Amount and Term of Funding for Individual Nonprofit Agencies <br /> 1 . The County intends for nonprofit funding to enable agencies to become established . <br /> These funds could be considered "startup assistance" . In time , each agency should <br /> develop its own revenue stream , separate from public funds . <br /> a . In order to implement this policy, the County will provide funding to an agency for a <br /> period of no more than four (4 ) years . <br /> Approved 2/ 19/02 <br /> Page 2 <br /> I <br />