(a) The board shall appoint an executive director, who shall be the chief executive and administrative officer of the authority and who shall serve at the board’s pleasure. The board shall enter into a contract with the executive director establishing the director’s compensation and term of office.
Terms Used In Tennessee Code 41-12-108
Contract: A legal written agreement that becomes binding when signed.
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(b) The executive director is responsible for all personnel matters related to the authority, including, but not limited to, recruitment, discipline and compensation.(c)(1) The executive director shall annually prepare the operating budget of the authority and submit the budget to the board for approval at least sixty (60) days prior to the beginning of the fiscal year.(2) If the board has not acted on the budget by the first day of the fiscal year, the previous fiscal year’s budget shall automatically go into effect and become the budget for the current fiscal year until the board acts on the budget for the current fiscal year.(d) The executive director shall also submit periodic reports to the board that it may direct.(e) The executive director shall attend all meetings of the board.
