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Center. <br />IV. CONVENTION AND VISITOR BUREAU ADVISORY BOARD <br />A. The CVB Advisory Board will monitor the Chamber's performance under this <br />Contract. <br />B. The CVB Advisory Board shall be responsible for developing and making a <br />recommendation to the Chamber Board for approval of the budget for this Contract and for any <br />extension or renewal of this Contract before the Chamber submits the budget to the City Council. <br />The budget shall contain an itemization of proposed expenditures for office space, personnel, <br />equipment, supplies, vehicles, and other expenses to be incurred by the Chamber in performing this <br />Contract. <br />C. The CVB Board shall monitor expenditures of CVB Funds allocated to the Chamber <br />under this Contract for conformity to the budget. The Chamber shall provide to the CVB Board an <br />itemized monthly report of the Chamber's expenditures of Tourism Funds to facilitate review by the <br />CVB Board. <br />D. Purchases made with CVB Funds which exceed $1,000.00 in amount shall be made <br />from the low responsible bidder, and at least three bids shall be obtained for each such purchase. <br />Purchases made with CVB Funds shall not be restricted to Chamber members. <br />E. The Chamber shall obtain the advice and counsel of the CVB Advisory Board as to <br />the hiring and firing of management-level Chamber employees responsible for activities under this <br />Contract. The Chamber President has day-to-day management responsibilities for Chamber <br />employees involved in activities under this Agreement. <br />F. The CVB Advisory Board and the Chamber shall each designate two officers <br />authorized to co-sign checks written on all accounts for CVB Funds. The signature of at least one <br />5