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DRAFT Comprehensive Fire Service Study MEDINA, MINNESOTA <br /> <br />Matrix Consulting Group Page 108 <br />with the procedure described in Exhibit D, which is attached hereto and <br />incorporated herein by reference. Annual Party Contributions will be <br />determined by the process described in Exhibit D. The population <br />numbers used to calculate annual Party Contributions will be those most <br />recently certified by the Minnesota State Demographer. The Estimated <br />Market Values of Improvements will be those most recently certified by <br />the relevant County Auditors for the Members’ respective jurisdictions. <br />Fire Calls will be those reported to the National Fire Incident Reporting <br />System by the Northfield Area Fire and Rescue Service (NAFRS) and <br />occurring in the NAFRS service area. <br /> <br />c. Invoice and Schedule of Payments. The NAFRS shall invoice each <br />Party in an amount equal to one half of that Party’s share of the annual <br />budget on a semi- annual basis. The invoice shall be itemized showing <br />a breakdown of the Parties’ Contribution to operations, capital <br />equipment, relief association, etc., and such other itemization as <br />requested or required by the Parties to know and understand <br />completely their respective Party Contributions to the NAFRS. The <br />Parties shall be invoiced at least thirty (30) days before paym ents are <br />due to the NAFRS; payments being due and payable no later than the <br />following schedule: <br /> <br />i. First Half: January 1 <br />ii. Second Half: July 1 <br /> <br />8. Fiscal Agent. <br />a. The Board shall appoint a Fiscal Agent to provide budgeting, <br />recordkeeping, and accounting services necessary or convenient for <br />the operations of the NAFRS, which may be by NAFRS employees or <br />contractual arrangement. The Fiscal Agent shall be compensated by <br />the NAFRS at a rate mutually agreed upon by the Fiscal Agent and the <br />Board. The Board may change the Fiscal Agent as it deems necessary <br />from time to time. The Fiscal Agent shall provide services including, but <br />not be limited to, the following: <br />i. Management of all NAFRS funds, including Party Contributions <br />and grant monies; <br />ii. Assist in preparation of budgets and audits; and <br />iii. Keep and maintain all financial records. <br /> <br />9. Insurance.