§ 9-6. Annual financial plan.

(a) In general.

Subject to the requirements of this section, the Board shall adopt an annual financial plan, based on the City's fiscal year, consisting of at least a budget and an amount to be disbursed from the Fund during that year.

(b) Fund allocations; Limitations.

(1) Limitations on use.

(i) For the purposes of this paragraph, "public engagement" may include:

(A) staffing needs for community outreach;

(B) space, supplies, and personnel for community information sessions;

(C) materials for education, marketing, and promotion of fund-related efforts; or

(D) facilitation and execution of community participatory processes for grant making.

(ii) In its financial plan, the Board may allocate from the Fund's balance:

(A) up to 5% for public engagement; and

(B) up to 15% for staff and other costs to administer the Fund.

(2) Remainder to be disbursed.

The Board must allocate the remainder of the Fund's balance among the programs and services identified under § 9-4(c) of this subtitle, with an emphasis on programs or services operating in, or meant to assist young people from, the communities in Baltimore City most impacted by high poverty.

(c) Public hearing and comment on financial plan.

Before adopting any financial plan required by this section, the Board shall arrange for a public hearing on the proposed plan. Notice of the hearing must be published on the fiscal agent's website for at least 3 consecutive weeks.

(d) Board of Estimates filing required.

After adopting a financial plan, the Board shall file the plan with the Board of Estimates.