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12. Emer encv Expenditures <br /> When there is a need for emergency rriajor equipment repair or emergency building <br /> repair, or other emergency need that will have a substantial negative impact on the <br /> operational capabilities andJor safety of the,firefighters or of the fire station if not <br /> immediately addressed, the emergency expenditures may be authorized by the Long Lake <br /> City Administrator and the Long Lake Fire Chief, or their designees. If these costs <br /> exceed the approved budget amounts, the Long Lake City Administrator and/or the Fire <br /> Chief will,within thirty days of the expenditures, notify the Contracting Cities of the <br /> expenditure, including an explanation of the emergency need. Emergency expenditures <br /> will be shared according to the cost sharing formula set out in this contract. Any <br /> reimbursement of the emergency expenditures through insurance, emergency/disaster <br /> � assistance funding, or other sources will be credited to the Contract Cities in the same <br /> manner as the costs were shared. <br /> 13. Annual Audit of Actual Costs . <br /> The Contracting City understands and agrees that it is impossible to project with <br /> complete accuracy the actual costs of labor and equipment as well as the service to be <br /> required by each Contracting City for the forthcoming contract year and thereby hereby <br /> agrees to a yearly audit to adjust the prior year's estimated cost of service as set forth <br /> above to the actual costs incurred by the City of Long Lake. On or before Apri130th of <br /> each year the City of Long Lake will tabulate the actual cost of the fire department <br /> budget for the prior contract year and will submit to the Contracting Cities a summary of <br /> the actual costs. The actual costs set forth for the prior contract year may result in either <br /> a surplus or deficit with respect to that year's Annual Operating Budget. Any surplus <br /> shall be refunded to the contract cities in the same ratio as the cost allocation formula. <br /> Any deficit shall be funded by the contract cities in the same ratio as the cost allocation <br /> formula. It is expected that expenditures will remain within the Annual Operating <br /> Budget amounts and will only exceed such budget amounts in the case of an emergency <br /> expenditure as provided in Section 12 or when mutually agreed to by the Contracting <br /> Cities as provided in Section 14 of this Agreement. <br /> 14. Unforecasted Exvenditures <br /> Notwithstanding any of the above, the Contracting Cities shall have the right to be heard <br /> regarding any proposed expenditures which are not identified in the Annual Operating <br /> Budget and which exceed $5,000. Notice of such proposed, non-budgeted expenditures <br /> shall be given in writing to the Contracting Cities prior to actual expenditures for such <br /> items and the Contractin� cities shall thereafter have 21 days in which to approve or <br /> disapprove the same in writing and if there is no response which disapproves the <br /> expenditure, it is agreed that such proposed expenditures may be made and the cost <br /> thereof shall be included in the Annual Operating Budget as if ratified originally. <br /> 6 <br />