§ 13-11. Financial plan; annual report.

(a) Fiscal year.

The Authority's fiscal year is the same as the City's fiscal year.

(b) Annual plan required.

(1) Annually, the Board of Directors must develop and, subject to the approval of the Board of Estimates, adopt a financial plan for the ensuing fiscal year.

(2) The financial plan for each fiscal year:

(i) must contain the Authority's proposed plan for both operations and capital expenditures in that fiscal year; and

(ii) may include a narrative of initiatives to be undertaken by the Authority in its effort to develop parking projects and demand management strategies.

(c) Submission of proposed plan to Board of Estimates.

At least 2 months before the start of a new fiscal year, the Board of Directors must submit its proposed financial plan and all background material to the Board of Estimates for its review and approval.

(d) Annual report.

Within 6 months after the end of each fiscal year, the Authority must publish and make available to the public an annual report that summarizes, in a non-technical, readable format:

(1) the Authority's activities during the preceding fiscal year;

(2) the Authority's future plans ; and

(3) the Authority's consideration and use of demand management strategies and the effectiveness of those strategies in reducing the need for new parking.