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2. Responsibilities of the Regional System - The Regional System <br /> will remain organized with the statutory framework referred to <br /> above and it shall be the duty of the Regional System to: <br /> A. Maintain a Board of Directors consisting of nine (9) members <br /> with three representatives from each participating County. <br /> B. Meet at least once per quarter and conduct special meetings as <br /> required for transaction of Regional System business. <br /> C Designate the Orange County Library as The Regional System <br /> Headquarters and the Orange County Finance Director as <br /> Regional System's Fiscal Agent. <br /> D. Adopt an annual balanced budget no later than March 15 for <br /> all regional funds received from the North Carolina Department <br /> of Cultural Resources and for all other grants and/or donations <br /> received from agencies or individuals for Regional System <br /> purposes. This budget must include appropriations to each <br /> County within the region for library operations. The County <br /> appropriations will be determined after sufficient funds for <br /> regional personnel and operation, to include fiscal services, <br /> have been allocated. Funds appropriated to the Counties <br /> cannot be reduced without the approval of the Boards of <br /> Commissioners for each County. <br /> E. Insure that all regional reporting requirements to the State and <br /> Federal governments, as well as, any and all other grantors are <br /> met. <br /> F. Insure that all existing and future Regional System materials <br /> and assets are made available for use throughout the region. <br /> G. Distribute all monies currently held in Capital Project Funds are <br /> listed in the Regional System's financial statements as i. <br /> "Development Funds" to each respective County as follows: <br /> Person County - Mattie Maude Williams Fund and Person <br /> County Development Fund <br /> Caswell County - Caswell County Development Fund <br />