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shall be deemed by reason of their appointment or service to be employed by <br />any of the other Member Agencies or the ILJAOC or be subject to any of the <br />requirements of the other Member Agencies. <br />10 <br />Ra <br />4.01 The Board shall adopt a budget for the ensuing fiscal year(s) <br />pursuant to procedures developed by the Board. At the conclusion of each fiscal <br />year, the Treasurer /Controller shall make a report to the Board regarding the <br />excess or deficiency of revenues over (or under) expenditures. Such report shall <br />include "budget to actual" comparisons based upon the previously adopted <br />budget. Upon receipt of the report, the Board shall determine what extent, if any, <br />unexpended budgetary appropriations shall be re- appropriated or whether any <br />excess of revenues over expenditures shall be allocated or expended. <br />4.02 The Treasurer /Controller shall draw warrants upon the approval <br />and written order of the Board or the Board's Executive Director, The Board shall <br />requisition the payment of funds only upon approval of such claims or <br />disbursements and such requisition for payment in accordance with rules, <br />regulations, policies, procedures, and by -laws adopted by the Board. <br />4.03 All funds received by the Treasurer /Controller for services provided <br />by the ILJAOC, will be placed in object accounts, and the receipt, transfer, or <br />disbursement of such funds during the term of this Agreement shall be accounted <br />for in accordance with generally accepted accounting principles applicable to <br />governmental entities. There shall be strict accountability of all funds. All <br />revenues and expenditures shall be reported to the Board on a quarterly basis, <br />unless otherwise required by the Board. <br />4.04 All expenditures within the approved budget shall be made upon <br />the approval of the Treasurer /Controller in accordance with the rules, policies, <br />12 <br />25F -14 <br />