A.
In order to qualify for consideration or to receive municipal assistance, whether in the form of no-cost or discounted utilization of municipal facilities and/or financial assistance, by a civic, recreational or other not-for-profit organization providing services, programs or activities to the Borough's residents, including but not limited to the youth, senior citizens or other residents residing within the Borough, such civic, recreational or other not-for-profit organizations shall provide annually to the Borough a copy of their current business and financial records ("Business and Financial Records") as follows:
(1)
Certificate of formation;
(2)
Organizational bylaws; and
(3)
Audited financial statements if required to be maintained by statute or other governmental regulation or certified to be true financial statements if not required to be maintained by statute or other governmental regulation. Said financial statements shall include a statement of income and expenses as well as balance sheets listing assets and liabilities to the Borough of Lodi.
B.
Said business and financial records shall be filed with the Borough Clerk of the Borough of Lodi on or before March 1 of each year.