Budget and expenses.

CFR · 2024-01-01 · US · Title 7

(a) At least 60 days prior to the beginning of each fiscal year, and as may be necessary thereafter, the Board shall prepare and submit to the Secretary a budget for the fiscal year covering its anticipated expenses and disbursements in administering this subpart. (b) Each budget shall include: (1) A rate of assessment for such fiscal year calculated, subject to § 1215.51(b), to provide adequate funds to defray its proposed expenditures and to provide for a reserve as set forth in paragraph (g) of this section; (2) A statement of the objectives and strategy for each program, plan, or project; (3) A summary of anticipated revenue, with comparative data for at least one preceding year; (4) A summary of proposed expenditures for each program, plan, or project; and (5) Staff and administrative expense breakdowns, with comparative data for at least one preceding year. (c) In budgeting plans and projects of promotion, research, consumer information, and industry information, the Board shall expend assessment and contribution funds on: (1) Plans and projects for popcorn marketed in the United States or Canada in proportion to the amount of assessments projected to be collected on domestically marketed popcorn (including Canada); and (2) Plans and projects for exported popcorn in proportion to the amount of assessments projected to be collected on exported popcorn (excluding Canada). (d) The Board is authorized to incur such reasonable expenses, including provision for a reasonable r

official document · source cfr-2024 · id 7:§ 1215.50