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OUTSIDE AGENCY FUNDING POLICY <br />may be on the same basis as provided for nonprofit agencies or on another basis. <br />V. Tourist Development Agencies <br />In 1987, Indian River County began levying the Tourist Development Tax in accordance with Section <br />125.0104, Florida Statutes. Out of the four (4) cents of tourist tax levied within the County, 1-1/2 cents is <br />awarded to agencies that promote and advertise tourism in Indian River County nationally and <br />internationally. This policy provides guidelines for funding agencies with Tourist Development Tax. <br />Florida Statutes provide certain requirements for the use of these taxes. This document outlines other <br />policies not addressed in the Statutes (Section 125.0104). In the event of a conflict between the Florida <br />Statutes and this policy, the Florida Statutes will govem. <br />A. Tourist Development Agency Application for Funding <br />1. In early March of each year, the Budget Office sends out application packets for the <br />upcoming budget year. These packets are sent out to all tourist development agencies <br />that received funding In the current year, requested funding forthe current year, orInquired <br />about funding any time during the last twelve months. <br />2. Completed application packets and all additional documentation must be submitted to the <br />Budget Office by May 1" in order to be considered for funding In the upcoming budget. <br />3. The application packets can be seen in Attachments A and C to this document. The <br />application includes a description of the countywide purpose for the funds requested, a <br />listing of the organization's board of directors, salary information, and various financial <br />forms. <br />4. Certain documentation is required from each agency in addition to the application packet <br />as shown below. <br />a. <br />The agency's latest tax return (Form 990) <br />b. <br />Copy of the Letter of Determination of the agency's nonprofit status (section <br />501(c)(3) including Federal Identification Number. <br />C. <br />A statement of agency revenues and expenses for the most recent fiscal year. <br />d. <br />A balance sheet showing the assets, liabilities, and fund balances of the agency. <br />e. <br />Copy of the letter from the State of Florida verifying that the agency has complied <br />with the registration requirements of Chapter496, Florida Statutes, the Solicitations <br />of Contributions Act. <br />f. <br />If the organization has an annual review, compilation, or audit completed by an <br />Independent certified public accountant, a copy must be submitted with the <br />application. <br />g. <br />In accordance with this policy, if an agency received $100,000 or more from the <br />Approved 2/19/02 <br />Coding; Words/letters underscored are additions to text; words/letters in stiiket#reuformat are deletions to text. <br />Revision #1 Approved 11/3/2009 <br />Page 8 <br />P142 <br />