(1) The board shall be responsible for: (a) Initiating and coordinating research and surveys for the purpose of gathering data on the lake, related shorelands and the drainage basin; (b) Planning lake protection and rehabilitation projects; (c) Contacting and attempting to secure the cooperation of officials of units of general purpose government in the area for the purpose of enacting ordinances deemed necessary by the board as furthering the objectives of the district; (d) Adopting and carrying out lake protection and rehabilitation plans and obtaining any necessary permits therefor; (e) Maintaining liaison with those officials of state government involved in lake protection and rehabilitation, and providing the department with the names and addresses of the current commissioners; (f) Scheduling the annual meeting of the district; and (g) Preparing the proposed annual budget for presentation at the annual meeting of the district. The proposed annual budget shall include all of the following: 1. A list of all existing indebtedness and all anticipated revenue from all sources during the ensuing year. 2. A list of all proposed appropriations for each department, activity, and reserve account during the ensuing year. 3. The actual revenues and expenditures for the preceding year. 4. The actual revenues and expenditures for not less than the first 6 months of the current year. 5. The estimated revenues and expenditures for the balance of the current year. 6. For informational purposes by fund, all anticipated unexpended or unappropriated balances and surpluses. (2) The board shall have control over the fiscal matters of the district, subject to the powers and directives of the annual or a special meeting. The board shall annually at the close of the fiscal year cause an audit to be made of the financial transactions of the district, which shall be submitted to the annual meeting. (3) The board, immediately after each annual meeting, shall elect a chairperson, secretary and treasurer, whose duties shall be as follows: (a) The chairperson shall preside at the annual meeting, at all special meetings and meetings of the board and at all public hearings held by the board. (b) The secretary shall keep minutes of all meetings of the board and hearings held by it. The secretary shall prepare and send the notices required for the annual meeting, any special meeting, and any meeting of the board. (c) The treasurer shall receive and take charge of all moneys of the district, and pay out the same only on order of the board.
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