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~'~'in mentioned and may invest funds of the Commission not currently <br />needed for its operations, in the manner and subject to the laws of <br />Minnesota applicable to statutory cities. <br /> <br /> Subdivision 17. It may collect monies, subject to the provisions <br />of this agreement, from its members, Anoka County and from any other source <br />approved by a majority of its board. <br /> <br /> Subdivision 18. It may accept gifts, apply for and use grants or <br />loans of money or other property from the United States, the State of <br />Minnesota, a unit of government or other governmental unit or organization, <br />or any person or entity for the purposes described herein; may enter into <br />any reasonable agreement required in connection therewith; may comply with <br />any laws or regulations applicable thereto; and may hold, use, and dispose <br />of such money or property in accordance with the terms of the gift, grant, <br />loan or agreement relating thereto. <br /> <br /> Subdivision 19. It may make contracts, incur expenses and make <br />expenditures necessary and incidental to the effectuation of these <br />purposes and powers and may disburse therefor in the manner hereinafter <br />provided. <br /> <br /> Subdivision 20. It shall cause to be made an annual audit by a <br />certified public accountant or the state auditor of the books and accounts <br />of the commission and shall make and file a report to its members at least <br /> <br />once each year including the following information: <br /> a. the approved budget; <br /> b. a reporting of revenues; <br /> c. a reporting of expenditures; <br /> d. a financial audit report or section that includes a <br /> <br /> balance sheet, a classification of revenues and <br /> <br /> <br />