(a) The Board shall have the following general duties:
(1) Adopt and publish internal operating rules for the conduct of Board meetings;
(2) Develop policies for the management, maintenance, and operation of the new convention center and District sports and entertainment facilities, including concessions, vehicle parking facilities, or other related facilities;
(3) Adopt rules and regulations consistent with Chapter 5 of Title 2 , governing the operation and use of the new convention center and District sports and entertainment facilities;
(4) Develop and establish a personnel system with rules and regulations setting forth minimum standards for all employees including pay, contract terms, vacations, leave, retirement, residency requirements, health and life insurance, employee disability and death benefits. The personnel system shall be in place no later than 6 months after September 28, 1994. The personnel rules and regulations shall require that no employee shall engage in outside employment or private business activity or have any direct or indirect financial interest that conflicts, or would appear to conflict, with the fair, impartial, and objective performance of the employee’s assigned duties and responsibilities;
(5) Select, employ, and fix the compensation for the President and Chief Executive Officer, and for the staff of the Board, as it deems necessary. All staff shall serve at the pleasure of the Board; and
(6) Delegate to the President and Chief Executive Officer by a majority vote of the Board, any authority granted to the Board under this subsection.
(b) The Board shall prepare and submit to the Mayor an operating budget for fiscal year 1995 and all subsequent fiscal years.
(1) For the purposes of this subsection, the term “operating budget” shall include only funds for personnel, show operations, travel, development, marketing service contracts entered into pursuant to § 10-1202.08a , and Board expenses.
(2) For the purposes of this subsection, the term “operating budget” shall not include funds or payments relating to debt service, repairs, maintenance, or capital improvements.
(c) The Board shall submit the fiscal year 1995 operating budget as soon as practicable. The Board shall submit the fiscal year 1996 operating budget and all subsequent operating budgets for the Authority to the Mayor on the date that other District departments and agencies are required to submit their budgets to the Mayor.
(d) The Board shall include with its operating budget submission the following information:
(1) A list of any memoranda, agreements, and contracts in excess of $25,000 which relate directly to personnel, show operations, travel, development, or Board expenses; and
(2) A financing plan for at least the next 5 years showing the following:
(A) Projected income by source;
(B) Projected operating expenditures by object class and program;
(C) Capital expenditures and financing;
(D) Balances and changes in reserves; and
(E) Debt service coverage.
(e) The Board shall submit, within 120 days after the end of each District government fiscal year, to the Mayor, the Council, and the Auditor of the District of Columbia, a detailed annual report setting forth a description of the Authority’s operations and accomplishments during the year, including an objective evaluation of the degree of success attained, including:
(1) An analysis of event attendance;
(2) Income and expenditures of the Authority during the year in accordance with sources and object classes established by the financial management system, budgeted, and audited actual;
(3) Audited actual capital expenditures and financing;
(4) Audited asset, liability, and fund equity balances at the end of the fiscal year;
(5) An analysis of work force;
(6) Recommendations as to the future management and operation of Authority; and
(7) Other information as shall be deemed pertinent by the Mayor, the Council, and the Auditor of the District of Columbia.
(f) The Board shall contract with the independent certified public accountant who annually audits the books and accounts of the District of Columbia to audit the books and accounts of the Authority and transmit the audit to the Mayor, the Council, and the Auditor of the District of Columbia within 120 days of the end of the District government fiscal year.
(g) The Board shall annually develop and adopt a multiyear financial plan no less than 90 days prior to the beginning of each fiscal year. The Board shall transmit the multiyear financial plan to the Mayor and Council within 10 days of its adoption. Each multiyear financial plan shall contain the following:
(1) A description of the Authority’s revenues, expenditures, reserves, debt service, and cash resources and uses for at least the next 5 years;
(1A) A multiyear capital improvements plan ("CIP") that shall include:
(A) The name, status, estimated period of usefulness, and total cost of each capital project on a full funding basis for which the Authority plans to expend funds in the forthcoming fiscal year and at least 4 fiscal years thereafter, including an explanation of any change in total cost in excess of 5% for a capital project included in the CIP the Authority submitted in the previous fiscal year;
(B) An analysis that includes:
(i) A description of each capital project;
(ii) An explanation of why the Authority plans to expend funds for each capital project;
(iii) An explanation of whether each capital project includes plans to design or construct a facility that the Authority will lease to another entity and the name of the entity with which the Authority plans to enter into a lease;
(iv) The name of any entity that will contribute funds for each capital project; and
(v) A description of the expected sources and amount of revenue the Authority expects to collect from each capital project and the fiscal year during which the Authority expects to collect the revenue;
(C) Identification of the years and amounts in which bonds would have to be issued, loans made, and costs actually incurred on each capital project; and
(D) Appropriate maps or other graphics.
(2) If the budget of the Authority for the upcoming fiscal year is not balanced, a statement of the means by which it will be brought into balance; and
(3) Any other matters that the Authority, the Mayor, or the Council deems relevant.
(h) The Board shall submit final financial requirements and a feasibility analysis for the construction of the new convention center to the Mayor and Council within 24 months of September 28, 1994.
(1) If the guaranteed maximum price required by § 10-1202.04 requires an adjustment in the final financial requirements and feasibility analysis required by subsection (h) of this section, the Board shall submit revised financial requirements for the construction of the New Convention Center to the Council and the Mayor.
(2) This subsection shall apply as of February 27, 1997.
(i) The Board shall carry comprehensive liability insurance sufficient to protect the Authority, the Board, the members, officers, and employees of the Board, and the lessees or occupants, and the District government against risks associated with the exercise by the Authority or the Board of any authority conferred by this chapter, provided, however, that no Board member shall be personally liable for any act or omission of the Authority except with regard to fraudulent or criminally prosecutable acts by any Board member in connection with an act or omission of the Authority.