SECTIONS 240100-240103 - California Statutes

PUBLIC UTILITIES CODE

SECTION 240100-240103

240100. The commission shall expend only that amount of the funds
generated pursuant to this division for staff support, audit,
administrative expenses, and contract services that are necessary and
reasonable to carry out its responsibilities pursuant to this
division. The commission shall not expend more than 1 percent of the
funds received from the transactions and use tax levied pursuant to
Chapter 4 (commencing with Section 240300) for the salaries and
benefits for the commission's staff.

240101. The commission shall do all of the following with respect
to the revenues derived from the transactions and use tax levied
pursuant to Chapter 4 (commencing with Section 240300):
(a) Adopt an annual budget.
(b) Cause a postaudit of the financial transactions and records of
the commission and of all revenues expended pursuant to this
division to be made at least annually by a certified public
accountant.
(c) Do any and all things necessary to carry out the purposes of
this division.

240102. (a) The commission shall publish, pursuant to Section 6061
of the Government Code, notice of the time and place of the public
hearing for the adoption of the annual budget not later than 15 days
prior to the date of the hearing.
(b) The proposed annual budget shall be available for public
inspection at least 15 days prior to the hearing.

240103. The commission may approve a transaction and use tax
ordinance and ballot proposition and call an election in accordance
with Chapter 4 (commencing with Section 240300).