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3. 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 /> VR.F Expenditure Plan, Measure B, or the VRF ballot measure. <br /> B. RECIPIENT's Duties and Obligations <br /> I. 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 /> tine. <br />