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Alameda CTC Agreement No. A16-0064 <br />5. ALAMEDA CTC shall provide timely notice to RECIPIENT prior to conducting an audit of <br />expenditures made by RECIPIENT to determine whether such expenditures are in compliance with this <br />AGREEMENT, the Measure B Expenditure Plan, the Measure BB Expenditure Plan, or the VRF Expenditure <br />Plan. <br />B. RECIPIENT'S DUTIES AND OBLIGATIONS <br />1. RECIPIENT shall expend all Measure B, Measure BB, and VRF funds received in compliance <br />with the applicable guidelines and Plan(s), including the Implementation Guidelines and performance <br />measures, as they may be adopted or amended by ALAMEDA CTC from time to time. <br />2. RECIPIENT shall set up and maintain an appropriate system of accounts to report on <br />Measure B, Measure BB, and VRF funds received. RECIPIENT must account for Measure B, Measure BB, and <br />VRF funds, including any interest received or accrued, separately for each fund type, and from any other <br />funds received from the ALAMEDA CTC. The accounting system shall provide adequate internal controls and <br />audit trails to facilitate an annual compliance audit for each fund type and the respective usage and application <br />of said funds. ALAMEDA CTC and its representatives, agents and nominees shall have the absolute right at <br />any reasonable time to inspect and copy any accounting records related to such funds, except to the extent <br />specifically prohibited by applicable law. <br />3. RECIPIENT shall expend Measure B, Measure BB, and VRF funds in compliance with the <br />Timely Use of Funds Policies for Direct Local Distributions, as approved by the Commission, and as they <br />may be adopted or amended by ALAMEDA CTC from time to time. <br />4. RECIPIENT hereby agrees to and accepts the formulas used in the allocation of Measure B, <br />Measure BB, and VRF revenues as reflected in the ballot measures, the Measure B Expenditure Plan, the <br />Measure BB Expenditure Plan, and the VRF Expenditure Plan, and agrees to accept and utilize the California <br />Department of Finance Estimates of Population figures (Report E-1, updated each May) for California cities <br />and counties for the annual update of the sales tax allocation formulas to begin in each new fiscal year and <br />registered vehicle data provided by the California Department of Motor Vehicles when available. <br />C. OTHER EXPENDITURE RESTRICTIONS <br />1. Transportation Purposes Only: RECIPIENT shall use all Measure B, Measure BB, and VRF <br />funds solely for transportation purposes as defined by the authorizing ballot measures. Any jurisdiction that <br />violates this provision must fully reimburse all misspent funds, including all interest which would have been <br />earned thereon. <br />2. Non -Substitution of Funds: RECIPIENT shall use Measure B and Measure BB funds, <br />pursuant to the Act, and VRF funds to supplement and not replace existing property taxes used for <br />transportation purposes. <br />Page 5 of 16 <br />