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<br /> <br /> - 4 - <br />4.6. Open Meetings Laws. SLIA shall comply with the open meeting requirements of the Ralph M. <br />Brown Act with regard to its performance of this Agreement. <br /> <br />4.7. Program and Budget Reports. <br /> <br />4.7.1 Reports, Work Plans and Budgets. The SLIA shall submit an Annual Work Plan and <br />Budget on or before November 30th for each fiscal year for which Assessments are to <br />be levied and collected (the “Annual Report and Budget”). The Annual Work Plan and <br />Budget shall be prepared in accordance with Section 36622 of the Streets and <br />Highways Code, and Article XIII.D of the California Constitution. If changes to the <br />Annual Work Plan and/or Budget are requested that would require a public hearing <br />and/or a public meeting pursuant to state law, the Community Benefit District <br />Ordinance, or which would affect the Assessment database and resulting budget of the <br />upcoming fiscal year, then such modification shall be submitted prior to May 1st of each <br />year. The City must report any changes to the database or boundaries to the County by <br />July 15th of each year during the Term. The Budget for any year shall not be effective <br />until approved by the City. <br /> <br />4.7.2 Budget. Each program or activity specified in the District Plan and succeeding <br />programs and activities shall be implemented within the approved budget amounts in <br />accordance with the District Plan and this Agreement. Any obligations or expenditures <br />not specifically budgeted shall not be paid from District Revenues. <br /> <br /> 4.7.3 City’s General Fund Not Liable. Neither the City’s General Fund, nor any other City <br /> fund, revenue source, or any other City monies, except the actual Assessment for <br /> property the City owns in the District under the conditions of Title 2, Chapter 2-20 <br /> of the San Leandro Municipal Code shall be collected from the County and <br /> transferred to the SLIA. The City shall only be responsible for payment of its property <br /> assessment as a property owner in the District. All Parties acknowledge and agree that <br /> any unpaid Assessments in the District are not a debt of the City, nor a legal or <br /> equitable pledge, charge, lien or encumbrance upon any City property or upon City <br /> income, receipts or revenues. <br /> <br />4.8. Financial Statements. <br /> <br />4.8.1. Annually in conjunction with the Annual Report and Budget, SLIA shall prepare <br />financial statements that document the disposition, commitment and line item <br />expenditures of all District Revenues received during the previous calendar year (the <br />“Financial Statement”). The Financial Statement shall be prepared by a Certified <br />Public Accountant (CPA) acceptable to the City. The City may request a full audit of <br />the Financial Statement, if in its sole and absolute discretion, the City believes such an <br />audit is necessary. <br /> <br />4.8.2. The City’s review of the Financial Statement shall be conducted in accordance with <br /> Government Auditing Standards (2003 and subsequent revisions) prescribed by the <br /> Comptroller General of the United States. All other audits shall be prepared in <br /> accordance with Generally Accepted Accounting Principles in the United States of <br /> America.