Cooperation in furnishing information; review and approval of information and reports.

(A) The municipal corporation, county, or township and all its officers and employees having possession of the required information or the responsibility for developing such information, shall at all times cooperate in assisting the functions of the financial planning and supervision commission by providing to the commission or, when authorized by the commission, the financial supervisor, on a continuing basis, all information requested, ordered, or needed by the commission or the financial supervisor to formulate judgments regarding revenue and expenditure estimates, the financial plan or any modification thereof submitted by the municipal corporation, county, or township, the monitoring of the implementation of the financial plan, and consideration of any amendments of the financial plan initiated by the commission or the municipal corporation, county, or township. The municipal corporation, county, or township and its officers and employees shall provide accurate information and reports to the commission and the financial supervisor in such form and detail as requested from time to time by the commission or the financial supervisor. The municipal corporation, county, or township and its officers and employees shall provide the requested information and reports within thirty days after the commission or financial supervisor requests the information or reports. (B) The commission shall review and approve the information and reports submitted to it or to the financial supervisor by the municipal corporation, county, or township under division (A) of this section. If the commission determines that a municipal corporation, county, or township has not promptly provided accurate information and reports under that division, the commission may prohibit expenditures from the general fund and all funds of the municipal corporation, county, or township in any month from exceeding eighty-five per cent of expenditures from the general fund and all funds for that month in the preceding fiscal year. The commission may authorize a higher per cent for any month upon justification of need by the municipal corporation, county, or township. If the commission considers it prudent, the commission also may limit expenditures from any other fund of the municipal corporation, county, or township. Any limitations imposed under this division remain in effect until the commission determines that the municipal corporation, county, or township has provided the accurate information and reports requested by the commission or the financial supervisor.