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Continued <br />B. Insure that all library employees are treated as employees of <br />the respective Counties and receive compensation and benefits <br />packages accordingly. <br />C Prepare quarterly reports. for the Regional System to include <br />information pertinent to library operations and expenditure of <br />regionally appropriated funds and make all library records <br />available for inspection by the Regional System or its <br />representative at all reasonable times. <br />D Insure that disbursements made on behalf of the libraries <br />from State, Federal and other restrictive sources are in <br />accordance with all required provisions. <br />4. <br />The Fiscal Agent and Financial Officer for the Regional System will be <br />the Finance Director of Orange County and it shall be his ar her duty <br />to: <br />A. Provide accountability for. the Regional System's financial <br />assets in accordance with generally accepted accounting <br />principles and the Local Government Budget and Fiscal Control <br />Act. <br />B. Receive, deposit, disburse and invest the Regional System's <br />funds in accordance with the guidelines contained in section <br />4-A above. <br />C Prepare monthly financial statements far the Regional System <br />and present these statements to .the Regional Director. <br />D! Insure that Regional System funds are audited annually as <br />required within the guidelines contained in Section 4-A above. <br />4 <br />l~ Insure that all fiscal reports required by grantor agencies are <br />prepared and submitted on a timely basis. <br />