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OUTSIDE AGENCY FUNDING POLICY recommendations will be incorporated into the County Administrator's recommended budget for the next fiscal year. 7. In September each year, the Board of Commissioners holds a Preliminary Budget Hearing and a Final Budget Hearing in order to legally adopt the Operating Budget for the next fiscal year. Each of these is a public hearing, and is advertised to the public prior to the meeting. Once the budget is legally adopted, the Budget Office will then notify each agency of its allocation. B. Tourist Development Agency Funding Levels The aggregate amount of funding available for Tourist Development agencies is determined directly by the amount of Tourist Tax for a given fiscal year. 1-2/3 cents out of the total 4 cents of Tourist Development Tax levied in Indian River County is allocated to these agencies each year. 2. The Office of Management & Budget will develop revenue projections for the Tourist Development Fund for next fiscal year, prior to the TDC meeting in May. This revenue estimate will set the maximum allocation for all agencies. 3. Allocations for individual agencies will be recommended by the TDC to the Board of Commissioners. Decisions to fund new agencies, to discontinue funding to current agencies, and to change allocations to current agencies will be at the discretion of the TDC and finally, the Board of Commissioners. 4. In order to receive funding, an agency must promote, enhance, or attract tourism in Indian River County. 5. The TDC will not accept or fund grant applications from other governmental agencies or municipalities. 6. Indian River County currently has an agreement with the Indian River County/ Vero Beach Chamber of Commerce designating the Chamber as the County's tourist development agency. This agreement will be followed in all aspects of the policy for funding tourist development agencies. 7. The Tourist Development Council has adopted a policy of rating more highly, funding applications for agencies that more directly promote tourism. Also, the TDC will discourage the use of tourist tax monies on salaries. This is in an attempt to direct tourist tax dollars to agencies that "put heads on beds". C. Tourist Development Agency Responsibilities After Award of Funding Indian River County provides funding to tourist development agencies on a reimbursement basis. All reimbursable expenses must be documented by an invoice and/or a copy of canceled Initially Approved 2/19/02 Revision #1 Approved 11/3/2009 Revision #2 Approved 5/16/2017 Revision #3 Approved 3/15/2022 Revision #4 Approved 8/16/2022 13&e 9