Resolution 7632 Shoreline Fire JPA

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SECTION 8 BUDGET 8.1 Approval of Department Operating and Capital Budget, The Department shall submit a proposed budget, including operating and capital costs (the "Department Budget" or Budget"), to the Members through the Members' Operating Committee Directors by July 15. The annual Department Budget must be approved by an affirmative vote of the majority of each Party's governing body. The Members' governing bodies shall vote on the proposed budget by September 1. 8.2 Budget Disputes. If any dispute arises concerning approval of the Department Budget, or if a Member's governing body fails to approve the budget, the Members and the Department shall hold a joint meeting or series of joint meetings in September and October. In the event the Members and the Department are unable to resolve the dispute following said meeting(s), the Members will follow the dispute resolution process in Section 10.1, starting at step 2. For removal of doubt, a nominated arbitrator shall have the authority to determine the Department Budget and may consider, without limitation, the Department's needs with consideration of the service standard obligation set forth in Section 4.3, as it may be amended by the Board. a. If the Members are unable to agree on the proposed budget, and a final decision has not been issued pursuant to Section 10.1 prior to the commencement of the succeeding calendar year, the amount of the previous year's budget will be increased by the increase in July Minneapolis/St Paul Consumer Price Index for All Urban Consumers (CPI-U) over the previous 12-month period, or five percent (5%) whichever is less, until such time as the arbitrator renders a final decision and that determination is implemented by the Board. b. In the event that the Consumer Price Index decreases, the operating budget shall remain the same, pending the arbitrator's final decision. c. The arbitrator's final decision shall be implemented as per the ruling. 8.3 Budget Reports. The Department shall submit to each of the Members through its Operating Committee directors a quarterly budget report. Furthermore, the Department shall submit to each of the Members through their Operating Committee directors a copy of the Department's annual financial report no later than June 301h of each year. SECTION 9 INSURANCE AND LIABILITY 9.1 Insurance. The Department shall maintain general liability insurance for its services, in an amount equal to or greater than the maximum liability applicable to municipalities as set forth in Minnesota Statutes, Section 466.04, subd. 1, as amended. The Department shall also maintain inland marine, automobile, and property insurance coverages. The Department shall also maintain workers' compensation coverage as required by law. All insurance policies shall be issued to the Department and shall name as additional insured each Member, its officers, and 235703v20