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DRAFT <br />11-73-42-24 <br />(19) It may make contracts, incur expenses, and make expenditures necessary <br />and incidental to the effectuation of these purposes and powers and may <br />disburse therefor in the manner hereinafter provided. <br />(20) It shall cause to be made an annual audit by a certified public accountant <br />or the state auditor of the books and accounts of the Commission and shall <br />make and file a report to its Members at least once each year including the <br />following information: <br />(i) The approved budget; <br />(ii) Reporting of revenues; <br />(iii) Reporting of expenditures; <br />(iv) Financial audit report or section that includes a balance sheet, a <br />classification of revenues and expenditures, an analysis of changes in <br />final balances, and any additional statements considered necessary for <br />full financial disclosure; and <br />(v) The status of all Commission projects and work within the <br />Watershed. <br />Copies of said report shall be transmitted to the Clerk of each Member. <br />(21) Its books, reports, and records shall be available for and open to inspection <br />by the Members at all reasonable times. <br />(22) It may recommend changes in this Agreement to the Members. <br />(23) It may exercise all other powers necessary and incidental to the <br />implementation of the purposes and powers set forth herein and as <br />outlined and authorized by the Act. <br />(24) It shall cooperate with the applicable state agencies in complying with the <br />requirements of Minn. Stat., chap. 103G. <br />(25) Each Member reserves the right to conduct separate or concurrent studies <br />on any matter under study by the Commission. <br />(26) It shall establish a procedure for establishing citizen or technical advisory <br />committees and to provide other means for public participation. <br />(27) Where the Board is authorized or requested to review and make <br />recommendations on any matter, the Board shall act on such matter within <br />60 days of receipt of the matter referred. Failure of the Board to act within <br />60 days shall constitute approval of the matter referred, unless the Board <br />requests and receives from the referring unit of government an extension <br />of time to act on the matter referred. Where the Board makes <br />recommendation of any matter to a Member, the Council of a Member not <br />10 <br />LW1O5-1-951303.vl <br />