Common use of Financial Structure Clause in Contracts

Financial Structure. A. All monies from both state and local governmental units will be paid into the Fontana Regional Library as a public authority which will comply with the provisions of the N.C.G.S §159, the Local Government Budget and Fiscal Control Act. B. Each county will provide facilities necessary for the Fontana Regional Library to carry out its mission. Provision of these facilities will include utilities, building and grounds maintenance, improvements or rent for those facilities. C. Each county will pay the Fontana Regional Library an adequate amount of money necessary for the Fontana Regional Library to carry out its mission of providing the public of Jackson, Macon, and Swain counties with excellent service and convenient access to resources for their educational, informational, and recreational needs.. These funds will allow the Fontana Regional Library to pay for library materials and for operating expenses for libraries within that county. Funds from each county will also be used to contribute to joint operations. D. All state funds will be used for salaries and benefits of employees serving the whole Fontana Regional Library region, for library materials; for telecommunications or telephone services and any other region-wide service. E. The Finance Officer will account for all expenditures by source of funds.