Laserfiche WebLink
3. is mere a quorum requirement Tor rsoara memoers aaenaance at your agency board m <br />Quorum: A simple majority of the Board constitutes a quorum for transacting business at the regular or <br />officially called meetings of the Chamber Board and the EDC Advisory Board. <br />Attendance Requirement: An elected Chamber Director shall be automatically disqualified and his <br />unexpired term shall be filled if he has three (3) consecutive unexcused absences <br />4. urease expiain me rotating volunteer structure or your doara members and officers. <br />Directors: The Chamber Board is composed of eighteen elected members. Six Directors are elected <br />annually to serve for three years, or until their successors have been elected and have qualified. The <br />incoming Chairman of the Board may appoint up to three members to the Board to serve one-year terms. <br />Subject to Board approval, the incoming Chairman of the Board may also appoint up to two former <br />Chamber Board Chairmen to serve one-year terms. The Immediate Past Chairman of the Board will serve <br />as a voting member of the Board. The Provost of the Indian River State College, Mueller Center Campus <br />will serve as a voting member of the Board. The President will serve as a. non-voting member of _the <br />Board. <br />Officers: elected annually; may be re-elected. <br />The county's Economic Development Council is comprised of twenty-two voting members who are <br />appointed by the Board of County Commission and serve a two-year term. The members represent key <br />local industries and local governmental entities. The EDC elects a chairman and a vice chairman annually <br />from among its voting members. A County Commissioner. serves as a non-voting liaison. Each chair and <br />vice chair serves a one-year term and may be re-elected but is limited to two successive annual terms, at <br />which point they would be ineligible to chair the committee for at least one year. <br />D. Finances <br />1. Does your Board approve the annual budget and review regular financial reports of the operating <br />budget and capital funds? How often is this review conducted? <br />The Chamber's Budget Committee establishes the Chamber's proposed annual budget and presents this <br />proposed budget to the Chamber Board of Directors for review and adoption. Financial reports for the <br />Chamber are made monthly at Chamber Board meetings. In addition, the Chamber President receives <br />and reviews budget information on a regular. basis. <br />The economic development budget is reviewed by the Economic Development Council as proposed, then <br />presented to the Board of County Commission for consideration. <br />NOTE: Monies received from the County for Economic Development programs are kept separate and <br />apart from normal Chamber revenues. There is a separate bank account at a different bank with three <br />completely separate audits conducted annually for economic development_ funds, Chamber funds, and <br />tourism funds. <br />It should also be noted that economic development (and tourism) funds received from the County do not <br />pay for the total expenses incurred by the economic development efforts of the Chamber. In reality, <br />Chamber revenues — private dollars received through Chamber member dues and special events - offset <br />and subsidize the services performed by the Chamber for economic development (and tourism). <br />135 <br />