§ 77-96. Funding. - North Carolina Statutes

§ 77‑96.  Funding.

(a)        The Commissionshall annually adopt a budget that shall include the Commission's estimatedexpenses. Funding for the Commission shall be shared and apportioned betweenthe State of North Carolina and the Commonwealth of Virginia. The appropriationof public funds to the Commission shall be provided through each state'sregular process for appropriating public funds. The North Carolina councils ofgovernments and commissions named in G.S. 77‑103(b)(5) shall bear aproportion of North Carolina's share of the expenses, which may be in the formof in‑kind contributions.

(b)        The Commissionshall designate a fiscal agent.

(c)        The accounts andrecords of the Commission showing the receipt and disbursement of funds fromwhatever source derived shall be in the form that the North Carolina Auditorand the Virginia Auditor of Public Accounts prescribe, provided that theaccounts shall correspond as nearly as possible to the accounts and records forsuch matters maintained by similar enterprises. The accounts and records of theCommission shall be subject to an annual audit by the North Carolina Auditorand the Virginia Auditor of Public Accounts or their legal representatives, andthe costs of the audit services shall be borne by the Commission. The resultsof the audits shall be delivered to the Joint Legislative Commission onGovernmental Operations of the General Assembly of North Carolina and asprovided by the Commonwealth of Virginia. (2002‑177, s. 1.)