§ 3314 — Financing of the interstate commission

§ 3314. Financing of the interstate commission. 1. The interstate\ncommission shall pay, or provide for the payment of the reasonable\nexpenses of its establishment, organization and ongoing activities.\n 2. The interstate commission may levy on and collect an annual\nassessment from each member state to cover the cost of the operations\nand activities of the interstate commission and its staff which must be\nin a total amount sufficient to cover the interstate commission's annual\nbudget as approved each year. The aggregate annual assessment amount\nshall be allocated based upon a formula to be determined by the\ninterstate commission, which shall promulgate a rule binding upon all\nmember states.\n 3. The interstate commission shall not incur obligations of any kind\nprior to securing the funds adequate to meet the same; nor shall the\ninterstate commission pledge the credit of any of the member states,\nexcept by and with the authority of the member state.\n 4. The interstate commission shall keep accurate accounts of all\nreceipts and disbursements. The receipts and disbursements of the\ninterstate commission shall be subject to the audit and accounting\nprocedures established under its bylaws. However, all receipts and\ndisbursements of funds handled by the interstate commission shall be\naudited yearly by a certified or licensed public accountant and the\nreport of the audit shall be included in and become part of the annual\nreport of the interstate commission.\n