HAR §15-110-24. Financial management

The authority shall implement and administer or cause the manager to implement and administer a financial management program for the sound fiscal administration of the convention center which shall provide for: (1) The establishment of bank accounts, the collection and deposit of revenues, the payment of creditors, the payment of debt service, and the establishment and implementation of appropriate accounting policies and procedures, financial record keeping, reporting requirements and audit controls; (2) The preparation and presentation to appropriate agencies or the legislature of the State, of an annual operating and capital budget, in order to obtain such State appropriations as the authority deems necessary or desirable with respect to the convention center, including, without !imitation, appropriations for capital improvements, replacement of furniture, fixtures and equipment, maintenance and repairs, projected operating deficits, and for contingencies and reserves deemed necessary or desirable by the authority. (3) The collection and deposit of all rentals, fees, charges, payments and all other income of the convention center that is not expressly required to be collected by the manager pursuant to the provisions of the management agreement. (4) The authority shall have the right, at all reasonable times, to have access to examine the books, papers, and records of the manager, which examination may be made by the authority, or its duly authorized representative; and the authority shall have the right to require the manager to provide periodic financial reports regarding the operation of the convention center in such form as the authority may prescribe. [Eff 2/26/96 ] (Auth: HRS §206X-4) (Imp: HRS §206X-4)