There shall be a Director of Finance who shall be appointed by the Executive Director. He shall devote his entire time to the duties of his office. He shall have knowledge of municipal accounting and taxation and shall have had experience in budgeting and financial control. He shall have charge of the administration of the financial affairs of the District and all subdistricts, subject to the supervision and direction of the Executive Director, and to that end he shall:

1. Assist the Executive Director in the preparation of the annual budget and in the control of all expenditures to insure that budget appropriations are not exceeded.
    

2. Maintain the general system of accounts for the District and all subdistricts, and keep such books and records and submit such financial statements to the Executive Director and the Board as they may require.
    

3. Prescribe the forms of all financial records, receipts vouchers, bills, or claims to be used by all offices, departments, and agencies of the District and any subdistrict.
    

4. Certify, before any contract, order, or other document has been executed by which the District or any subdistrict incurs financial obligation, that the expenditure is within the purpose of the appropriation to which it is to be charged and that there is an unencumbered balance in the appropriation sufficient to pay the obligation; provided, that where a contract extending beyond the current fiscal year is authorized by ordinance, it shall be sufficient for the Director of Finance to certify that there is an unencumbered appropriation balance sufficient to pay all expenditures required under such contract during the current fiscal year.
    

5. Audit and approve before payment all bills, invoices, payrolls, and other evidences of claims, demands, or charges against the District or any subdistrict, and in the event of the absence or disability of the Executive Director draw warrants upon the treasury.
    

6. Inspect, supervise, and audit the accounts or records of financial transactions which may be maintained in any office, department, or agency of the District or any subdistrict apart from or subsidiary to the accounts kept in his office.
    

7. Contract for, purchase, store, and distribute, pursuant to rules and regulations established by ordinance, all supplies, materials, and equipment required by any office, department, or agency of the District or any subdistrict.
    

8. Perform such other duties as may be imposed by the Executive Director or by ordinance.

There shall be a Secretary-Treasurer who shall be appointed by and subject to removal by the Board. He shall have at least ten years experience in the management and investment of public funds, and have knowledge of banking operations and municipal accounting. He shall:

1. Keep the journal of the Board's proceedings, and authenticate by his signature and record, in a book kept for that purpose, all ordinances, resolutions, regulations, rules, and orders.
    

2. Have custody of all funds belonging to or under the control of the District or any subdistrict, and deposit daily all moneys coming into his hands in such depositaries as are designated by the Board.
    

3. Invest, with the approval of the Board, funds not immediately needed for the purpose to which said funds are applicable, in the same manner as the state treasurer may invest funds of the State of Missouri pursuant to Section 15, Article IV of the Constitution of Missouri, as amended from time to time.
    

4. Pay money out of the treasury on warrants drawn by the Executive Director, or by the Director of Finance in the absence or disability of the Executive Director, and not otherwise.
    

5. Appoint and, when necessary for the good of the service, remove any employees provided for his office, subject to the personnel provisions of this Plan.
    

6. To advise, assist, and cooperate in fostering the interest of institutions of learning and civic, professional, and employee organizations in the improvement of personnel standards and conditions in the District.
    

7. Perform such other duties as are required by the Board.

The Board shall provide for the performance of the duties of the Secretary-Treasurer in the event of his absence or disability.

There shall be an Internal Auditor who shall be appointed by, and subject to removal by, the Board. The Internal Auditor shall have had at least ten years experience in accounting. The Internal Auditor need not be an individual, but may be a firm of Certified Public Accountants, no partner or owner of which shall have any personal or financial interest, direct or indirect, in the fiscal affairs of the District or any subdistrict or have any material financial relationship with any Trustee or any officer of the District, and who shall have no affiliation with the Certified Public Accountant engaged for the independent annual audit.

The Internal Auditor shall be the auditing officer of the District. He shall:

1. From time to time review the accounting system of the District and recommend to the Board such changes as deemed necessary for greater economy and efficiency in the administration of public funds.
    

2. Audit the accounts and records of accountable officers and employees of the District, giving due regard to generally accepted principles of auditing, including consideration of the effectiveness of the accounting system, internal audit and control and related administrative practices in all District offices.
    

3. Investigate matters relating to the receipt, disbursement and application of public funds.
    

4. Make such other investigations and reports in relation to fiscal matters as shall be directed by the Board.
    

5. Perform, from time to time, operational audits and recommend to the Board such changes as shall enhance the efficient and effective operation of the District.
    

6. Evaluate compliance with the policies of the District, the requirements of the Plan, District ordinances, third party agreements and government grants.
    

7. Whenever he deems it necessary to any investigation, examine the parties, witnesses and others concerning any matter or circumstance in such examination.
    

8. Perform such other duties as may be prescribed by this Plan or as may be required by the Board.

All officers and employees of the District shall furnish to the Internal Auditor such information and records of the District as the Internal Auditor may, from time to time, request.

There shall be a rate commission ("Rate Commission") to review and make recommendations to the Board regarding all proposed changes in wastewater rates, stormwater rates and tax rates or change in the structure of any of the foregoing ("Rate") The Rate Commission shall be established by the Board as promptly as possible but not later than ninety (90) days after approval of the amendment to the Plan which provides for its establishment. Upon receipt of a Rate Change Notice from the District pursuant to Section 7.280, the Rate Commission shall recommend changes in Rates to the Board that will be necessary to pay interest and principal falling due on bonds issued to finance assets of the District, the costs of operation and maintenance and such amounts as may be required to cover emergencies and anticipated delinquencies.

No money shall be drawn from the District treasury, nor shall any money obligation be incurred except pursuant to an appropriation made by the Board, and at the end of the fiscal year the unexpended and unencumbered parts of all appropriations shall revert to the funds from which appropriated. Any official approving for payment any claim for which there is not a sufficient unencumbered balance in the appropriation, or which is in any way contrary to the provisions of this Plan or any law or District ordinance, shall be liable therefor in person and on his bond, and shall be subject to removal from office.

An independent audit shall be made of the management of the District at least every five years by a nationally recognized management consulting firm which shall be engaged by the Board. Such management consulting firm shall have no personal or financial interest, direct or indirect, in the fiscal affairs of the District or have any material financial relationship with any trustee or any officer of the District. Additionally, no such consulting firm shall conduct two consecutive management audits as required by this section.

At least annually, the Board of Trustees shall make a written report to the Mayor and the Board of Aldermen of the City and to the County Executive and County Council of the County describing the District’s activities in the prior year and describing the District’s proposed activities for subsequent periods. Such written report shall be made available to the ratepayers of the District and shall be presented orally in such time, place and manner as convenient for the Mayor, the Board of Aldermen, the County Executive and the County Council, respectively.

An independent audit shall be made of all accounts of the District and all subdistricts at least annually by a Certified Public Accountant who shall be engaged by the Board. Such Certified Public Accountant shall have no personal or financial interest, direct or indirect, in the fiscal affairs of the District or any subdistrict or of any officer of the District. The Board shall not engage such firm for a period in excess of five consecutive years.

The fiscal year of the District shall be the twelve months beginning on the first day of July in each calendar year. The fiscal year shall constitute the budget and accounting year.

Before the District makes any purchase of or contract for supplies, materials, or equipment, or lets any contract for work or improvements, the Executive Director shall provide ample opportunity for competitive bidding, under such rules and regulations and with such exceptions arising out of emergencies and other causes as the Board upon recommendation of the Executive Director may prescribe by ordinance; provided, however, that the Board shall not except individual contracts, purchases, or sales from the requirement of competitive bidding for the purpose of evading the requirement of competitive bidding, nor shall it permit the subdivision of purchases or contracts for the purpose of evading the requirements of competitive bidding. All bids may be rejected. Except for such right of rejection, the purchase or contract shall be let to the lowest responsible bidder.

The Executive Director, Director of Finance, Secretary-Treasurer, and all other officers and employees receiving, disbursing, or responsible for District funds, and such other officers and employees as the Board may designate, shall, before entering upon the discharge of their duties, give bond to the District in such sums and with such sureties as shall be prescribed by ordinance, and subject to approval by the Board, conditioned upon the faithful and proper performance of their duties and for the prompt accounting for and paying over to the District of all moneys, property, or other thing of value of the District or any subdistrict that may come into their hands. The District shall pay the premiums on all such bonds. Unless otherwise provided by ordinance, the bond of the Secretary-Treasurer shall be filed with the Executive Director, and the bonds of all other officers and employees shall be filed with the Secretary-Treasurer.

The Board shall annually select one or more banks or trust companies, situated in the District, for the deposit of all funds of the District and any subdistricts. For the security of the funds deposited in such depositaries, the Board shall require each such bank or trust company to deliver to the Secretary-Treasurer or to a disinterested banking institution or safe depositary, as escrow agent or trustee, securities of the kind character and amounts as provided in Section 30.270, Revised Statutes of Missouri, as amended. The Board may, in its discretion, provide additional requirements or limitations as to the kind and character of securities which will be accepted as security for such deposits.

Not later than the fifteenth day of March in each year, the Executive Director shall submit to the Board a budget for the ensuing fiscal year, an explanatory budget message, and a general appropriation ordinance conforming with such budget. The budget shall provide a complete financial plan for the budget year for all District and subdistrict funds, and shall include the following:

1. Estimated revenues to be actually received from all sources during the budget year, together with a comparative statement of revenues for the two years next preceding, itemized by year, fund, and source.
    

2. Proposed expenditures, including projected expenses included in the Rate Commission's budget as provided in Section 7.260, recommended by the Executive Director for the budget year, together with a comparative statement of expenditures for the two years next preceding, itemized by year, fund, activity, and object.
    

3. The amount required for the payment of interest, amortization, and redemption charges on the debt of the District or any subdistrict.
    

4. A general budget summary.

In no event shall the total amount of proposed expenditures for the budget year from any fund exceed the estimated revenues to be actually received plus any unencumbered balance or less any deficit estimated for the beginning of the budget year.

The Board shall adopt the general appropriation ordinance, with such modifications as it considers advisable, not later than the thirtieth day of June of each year; provided, however, that the Board shall not authorize additional expenditures from any fund in excess of the total amount proposed in the budget unless it shall adopt an ordinance or ordinances providing additional revenues, and unless the Executive Director estimates that the amount of such additional revenues to be actually received during the budget year will equal or exceed the amount of such additional expenditures. Prior to the adoption of any ordinance providing such additional revenues, if such additional revenues are to be generated as a result of a Proposed Rate Change, the Board shall receive a Rate Commission Report setting forth the Proposed Rate Change and shall comply with the provisions of Section 7.300.

Whenever approved by the Board, the Executive Director may transfer any unencumbered appropriation balance or portion thereof from one classification of expenditure to another.

At any time during the budget year upon recommendation of the Executive Director, the Board may by ordinance make supplementary appropriations if (1) the Executive Director estimates that such appropriations will not result in a deficit at the end of the budget year, or (2) the Board shall adopt an ordinance or ordinances consistent with the requirements of Section 7.140 providing additional revenues and the Executive Director estimates that the amount to be actually received therefrom during the budget year will equal or exceed the amount of such supplementary appropriations.

No general obligation bonds, except bonds for refunding, advance refunding, extending, or unifying the whole or any part of valid bonded indebtedness, shall be issued without the assent of the voters of the District or a subdistrict, as the case may be, in the number required by Article VI, Section 26(b) of the Constitution of Missouri (as amended from time to time), voting at an election to be held for that purpose. No revenue bonds payable from the revenues to be derived from the operation of any or all sewer and drainage systems and facilities of the District or a subdistrict, as the case may be, except bonds for refunding, advance refunding, extending, or unifying the whole or any part of revenue bonds, shall be issued without the assent of a simple majority of the voters of the District or a subdistrict, as the case may be, voting at an election to be held for that purpose. Notwithstanding anything herein to the contrary, the District is expressly authorized to issue District-wide general obligation and revenue bonds. All forms, proceedings, and other matters with respect to any bond election and the amounts, purposes, issue, and disposition of bonds shall be prescribed by ordinance adopted by the Board.

Bonds may be so issued as to be payable serially or subject to call or both.

Before any general obligation bonds are issued, the Board shall by ordinance provide for the collection of an annual tax on all taxable tangible property within the District or a subdistrict, as the case may be, sufficient to pay the interest and the principal of such bonds as they fall due and to retire the same within twenty years from the date contracted. If the District has delivered a Rate Change Notice to the Rate Commission pursuant to Section 7.280, the Board shall, prior to the adoption of the above-mentioned ordinance, receive a Rate Commission Report setting forth the Proposed Rate Change and shall comply with the provisions of Section 7.300. No general obligation bonds shall be issued in an amount which together with existing indebtedness of the District or a subdistrict, as the case may be, if any, exceeds in the aggregate five per cent of the value of all taxable tangible property in the District or a subdistrict, as the case may be, as shown by the last completed assessment for state and county purposes; provided, however, that no revenue bonds issued under the provisions of this Plan shall constitute an indebtedness of the District or a subdistrict, as the case may be, within the meaning of said limitation.

Whenever any revenue bonds are outstanding against any or all sewer and drainage systems and facilities of the District or a subdistrict, as the case may be, the rates, rentals, or other charges to be collected from all real property shall be sufficient at least to pay the operation and maintenance expenses of such systems and facilities and the interest and principal payments as they accrue on such bonds and renewals, plus such amount as may be required to cover emergencies and anticipated delinquencies. If the District has delivered a Rate Change Notice to the Rate Commission pursuant to Section 7.280, the Board shall, prior to the adoption of an ordinance increasing such rates, rentals or other charges, receive a Rate Commission Report setting forth the Proposed Rate Change and shall comply with the provisions of Section 7.300.

Any special benefit assessment bonds issued under this Plan shall mature over a period not exceeding twenty years from the date contracted.