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<br />provided, however, that the City shall never be obligated to pay to the Authority an amount that <br /> <br />exceeds the amount of the approved Budget for the then-current fiscal year. <br /> <br />A quarterly accounting of expenditures and revenues of the Authority, including its <br /> <br /> <br />operating statements and balance sheets, shall be submitted to the Director by the forty-fifth <br /> <br /> <br />(45th) day of the quarter following such expenditure or receipt of revenue (the "Accounting"). <br /> <br /> <br />The City's review of the Accounting shall be limited to determining whether the expenditures are <br /> <br /> <br />(i) authorized by the Budget and (ii) consistent with the terms of the contract pursuant to which <br /> <br /> <br />they were incurred, and not a review to determine whether the Authority Board properly <br /> <br /> <br />exercised its discretion in making the expenditure. <br /> <br />VI. <br /> <br />Bud2et. Accountin2. and Audits <br />A. Books and Records. During the term of this Agreement, the Authority will <br />prepare and submit to the City, by April! of each year (or, for the current fiscal year, the date of <br />-. ,the final execution of this Agreement) during the term of this Agreement, its annual Budget <br />setting forth the Authority's proposed expenditures during the ensuing fiscal year to accomplish <br />the Annual Service Plan which will include the Authority's administrative costs incurred in <br />connection with providing services under this Agreement. Administrative costs may include <br />reasonable employee salaries, travel, insurance, and other benefits expenses. The annual Budget <br /> <br /> <br />shall also disclose the amount of all revenues available to the Authority for purposes of funding <br /> <br /> <br />the Seryices and expenses outlined in the Service Plan and is subject to the review and approval <br /> <br /> <br />of City Council. The Authority may amend (increase, decrease, or adjust) its Budget but must <br /> <br /> <br />advise the Director of such Budget amendments; provided, however, that Budget amendments <br /> <br /> <br />which involve an increase, decrease, or adjustment of $75,000 or more must be approved by City <br /> <br />9 <br /> <br />HOU:2680299.l <br />