Section 6114-B - Initial Financial Plan(a) Immediately upon the creation of the district, the board shall commence the negotiation of cooperation and support agreements with the owners and operators of regional assets under subarticle (c). The agreements shall include the following provisions:(1) Agreements regarding the governance and operation of regional assets.(2) Commitments regarding the level of financial support for the regional assets that will be provided by the district, the city, the county, other municipalities and other public and private organizations.(3) Long-term plans for the financing, development and operation of regional assets.(4) Performance and financial goals, objectives and standards for the operation of regional assets.(5) Assurances that adequate measures will be undertaken to maintain and improve regional assets.(6) Assurances that the operating and capital budgeting for regional assets will occur in a financially responsible manner.(7) Provisions for public involvement in the activities of regional assets and for participation by the district, the county, the city and other municipalities, as appropriate, in decisions regarding the operations and development of regional assets.(8) Access by the district to financial information regarding the overall activities of the regional assets.(b) Prior to the start of the initial operational fiscal year for the district, the board shall adopt an operating and capital budget based upon cooperation and support agreements executed with the owners and operators of regional assets. The budget shall estimate the total revenues required for the operating and capital expenses of the district and the amount of any revenues to be received by the district under subarticle (e).(c) The cooperation and support agreement executed with the owner and operator of each regional asset shall set forth a minimum level of financial support for the regional asset that will be provided by the district in each of the first ten fiscal periods of the district, unless the regional asset ceases operations at the option of its owner and operator. The minimum level of financial support for a regional asset shall be not less than the financial support for the regional asset provided by the county and the city during calendar year 1992. In the event that the minimum funding levels cannot be satisfied because of the lack of adequate resources, the minimum levels of funding for all regional assets shall be reduced by an equal fraction so as to ensure that total obligations do not exceed total revenues available to the district. Additional commitments of funds from sources other than the district on a pro rata basis may be required by the district for any financial support provided to regional assets above the minimum funding levels. Financial support shall include indirect costs when supported by an indirect cost study completed by an independent accounting firm. Indirect costs may include charges for such services as payroll, accounting, legal services, printing, vehicle repair and other reasonable and necessary overhead functions.(d) The board shall conduct public hearings and meetings regarding proposed cooperation and support agreements and any amendments to cooperation and support agreements.(e) As used in this section, the term "financial support" means the direct commitment of moneys for the support of regional assets, including payments for debt service, and the costs of compensation and benefits for employes predominantly engaged in providing direct services for the operation of a specific regional asset.1953, July 28, P.L. 723, No. 230, art. XXXI-B, § 3114-B, added 1993, Dec. 22, P.L. 529, No. 77, § 2, effective in 60 days.