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the council no later than October 15 for the preceding fiscal year. This report <br /> shall be presented to the committee designated to review financial matters as soon <br /> as practicable after its receipt. In the absence of council committees, the report <br /> shall be sent to the council in the same time frame. <br /> (d) The director of finance shall provide the Comprehensive Annual Financial Report <br /> (CAFR) containing the audited, unassigned fund balance to the council no later <br /> than December 31 for the preceding fiscal year. This report shall be presented to <br /> the committee designated to hear financial matters, or in the absence of council <br /> committees, the report shall be sent to the council as soon as practicable after its <br /> receipt. <br /> (e) If a report may be late, the director of finance shall submit a written <br /> communication to the council with an explanation of the reason for being late <br /> before the deadlines in (c) and (d) above. The communication shall be placed on <br /> the agenda in the committee charged with financial issues or in the absence of <br /> council committees, the communication shall be sent to the council as soon as <br /> practicable." <br /> SECTION 2. New material is underscored. In printing this ordinance, the underscoring <br /> need not be included. <br /> SECTION 3. Severability. If any provision of this ordinance or the application thereof <br /> to any person or circumstance, is held invalid, such invalidity does not affect other provisions or <br /> applications of the ordinance which can be given effect without the invalid provision or <br /> application, and to this end, the provisions of this ordinance are declared to be severable. <br /> SECTION 4. This ordinance shall take effect upon approval. <br /> INTRODUCED BY: <br /> COUNCIL MEM13 'R, COUNTY OF HAWAII <br /> Kona , Hawai`i <br /> Date of Introduction: March 2, 2011 <br /> Date of 1 Reading: March 2, 2011 <br /> Date of 2 Reading: March 16, 2011 <br /> Effective Date: April 4, 2011 <br /> 2 <br /> REFERENCE' Comm: 82.3 <br />