A volunteer company shall submit each request for a grant or loan from the Fund to the Association for approval by a board of review in accordance with the Association’s bylaws. Each request for a grant or loan shall include: financial statements for the 2 fiscal years immediately preceding the fiscal year in which the request is made; any available audit of the financial statements; and a detailed explanation of the reasons for the request. For each request for a grant or loan from the Fund, the volunteer company shall certify that the volunteer company applied for money from its local government and was denied, either wholly or partly. If the Association disapproves a request or does not take action within 90 days after the request for any reason other than because funds are not available, the volunteer company requesting a grant or loan may appeal to a panel composed of the president of the Association, the State Fire Marshal, and the chairman of the Fire and Rescue Education and Training Commission. The decision of the panel is final and is not subject to further review. On approval of a request for a grant or loan, the Association or the panel shall transmit its recommendation to the Board of Public Works. As authorized by the Board of Public Works, the Treasurer shall disburse money from the Fund to the Association in the name of a volunteer company for the purposes of this subtitle on warrant of the Comptroller. The Baltimore City Fire Department may submit a request for a grant or loan from the Fund for the purposes set forth in § 8-203(b) of this subtitle.