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Alameda CTC shall provide an annual projection of Measure B and VRF <br />revenues passed through to each RECIPIENT by each type of fund at the beginning of each <br />calendar year for the subsequent fiscal year. <br />4. Alameda CTC shall monthly report the amount of Measure B and VRF <br />revenues passed through to RECIPIENT by each fund type for the fiscal year and for the total <br />program to date. <br />5. Alameda CTC shall provide for an independent annual audit of its <br />revenues and expenditures and also of its calculation of the allocation formula for distributing <br />Measure B and VRF revenues to various RECIPIENTS and render an annual report to the <br />Alameda CTC Board within 180 days following the close of the fiscal year. Alameda CTC shall <br />render an annual report on Measure B funds to the Citizens Watchdog Committee as soon <br />thereafter as practical. <br />6. Alameda CTC shall provide timely notice to RECIPIENT prior to <br />conducting an audit of any expenditures made by RECIPIENT to determine whether such <br />expenditures are in compliance with this AGREEMENT, the Measure B Expenditure Plan, the <br />VRF Expenditure Plan, Measure B, or the VRF ballot measure. <br />B. RECIPIENT's Duties and Obligations <br />RECIPIENT shall expend all Measure B and VRF funds distributed to the <br />RECIPIENT in compliance with the applicable guidelines and Plan(s), including the <br />Implementation Guidelines, as they may be adopted or amended by Alameda CTC from time to <br />time. <br />