1.  The Board may enter into a cooperative agreement with a board of county commissioners for the administration of the Woolgrowers’ State Account for Control of Predatory Animals. Upon execution of such an agreement, the State Controller shall transfer all money in the Woolgrowers’ State Account for Control of Predatory Animals in the State General Fund to the appropriate county treasurer for credit to the Woolgrowers’ State Account for Control of Predatory Animals in the county treasury of the county that executed the agreement. The agreement must require the county treasurer to prepare an annual statement that includes an accounting of revenues and expenditures and the balance in the Woolgrowers’ State Account for Control of Predatory Animals. The statement must cover the most recent fiscal year and must be submitted, within 90 days after the end of that fiscal year, to the county treasurer, the Chair of the Board, the Director of the Office of Finance and the Legislative Auditor.

2.  The agreement may include a provision for reimbursement of the county by the Board of any reasonable costs of administering the Account.

3.  Upon termination of an agreement executed pursuant to subsection 1, the county treasurer shall transfer all money in the Woolgrowers’ State Account for Control of Predatory Animals in the county treasury to the Woolgrowers’ State Account for Control of Predatory Animals in the county treasury of another county that executed an agreement pursuant to subsection 1 or, if no such agreement has been executed, to the State Controller for deposit in the Woolgrowers’ State Account for Control of Predatory Animals in the State General Fund.