Funding and Fees

(a)The Board shall be fully supported by the revenues generated from its activities, including fees, charges and reimbursed costs. All such revenues, including fines, shall be deposited to the Health Professional Licensing Office Revolving Fund. This Fund shall receive all interest earned on the deposit of such revenues. Such funds should be appropriated continuously and should be used by the Board only for administration and enforcement of the Medical Practice Act.

(b)The Board shall develop and adopt its own budget reflecting revenues, including the interest thereon, and costs associated with each health care field regulated. Revenues, and interest thereon, from each health care field regulated should fully support Board regulation of that field. The budget should include allocations for establishment and maintenance of a reasonable reserve fund.

(c)All Board fees and charges shall be set by the Board pursuant to its proposed budget needs. Reasonable notice should be provided for all increases or decreases in fees and charges.

(d)A designated officer of the Board, at the direction of the Board, should oversee the collection and disbursement of funds. CH. 12 MEDICAL PRACTICES - PART I

(e)The Guam Auditor’s Office, or the equivalent State office should audit the financial records of the Board annually and report to the Board and I Liheslaturan Guåhan.