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• <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 Letterof Determination of the agency's nonprofit status(section 501(c)(3)) <br /> from the Internal Re%enue 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$25,000 or more from the County <br /> for the prior year,then the agency must have an audit completed by an independent <br /> certified public accountant at the end of the agencys fiscal year. A copy of this audit <br /> must be submitted to the Indian River County Office of Management and Budget within <br /> 120 days after the end of the agency's fiscal year. If an audit required by this policy for <br /> a previous year is past due and has not been submitted by May 1"', then any <br /> application for funding for the next year will be declined. <br /> 5. Indian River County will accept applications for funding from nonprofit agencies during this <br /> time period only. If an agency submits an application for funding after May 1$t'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 Page 2 <br /> 5me Soft Reprint Date:Wednesday,September 28,2016-13:29:35-Ofrtiaftcuments:3327,Attachment Id 1,Page 2 <br />