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n ratification by the tndix C which contains <br />this agreement may be <br />Package is ratified by <br />^ment will be renewed <br />ining with the contract <br />ails of this process are <br />my three year period <br />Package is ratified by <br />t shall be extended by <br />itract year of any three <br />jal Budget Package is <br />s Agreement shall be <br />e third contract year <br />ent the Annual Budget <br />Dber 1, this Agreement <br />riements of the Annual <br />nents of the previously <br />iny three year period <br />Package is not ratified <br />t previously ratified as <br />I Operating Budget for <br />agreement shall not be <br />any three year period <br />Package is not ratified <br />t previously ratified as <br />I Operating Budget for <br />greement shall not be <br />9.5 When during the third contract year of any three year period <br />covered by the Agreement the Annual Budget Package is not ratified <br />by Contracting Cities by October 1, this Agreement will terminate at <br />the end of that contract year. <br />10. Annual Audit of Actual Costs <br />The Contracting City understands and agrees that it impossible to <br />project with complete accuracy the actual costs of labor and <br />equipment as well as the service to be required by each Contracting <br />City for the forthcoming contract year and thereby hereby agrees to a <br />yearly audit to adjust the prior year's estimated cost of service as set <br />forth above to the actual costs incurred by the City of Long Lake. On <br />or before April 1 of each year the City of Long Lake will tabulate <br />actual cost of the fire department budget fo^ the prior contract year <br />and will submit to the Contracting Cities a summary of the actual <br />costs. The actual costs set forth for the prior contract year may result <br />in either a surplus or deficit with respect to that year's Annual <br />Operating Budget. Any surplus shall be refunded to the contract cities <br />in the same ratio as the cost allocation formula. Any deficit shall be <br />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 <br />Operating Budget amounts and will only exceed such budget amounts <br />in the case of an extraordinary event or when mutually agreed to by <br />the Contracting Cities as provided in Section 12. <br />11. Contract Payments <br />The City Budget Share(See Section 16.2) of each Contracting City <br />shall be paid in equal quarterly installments on January 1, April 1. July <br />1 and October 1 of the next contract year by the Contracting City to the <br />City of Long Lake. <br />Long Lake agrees to provide the Contracting City with reasonably <br />detailed information relating to the actual expenditures against the <br />Annual Operating Budget at its request and agrees to make its <br />records available to the Contracting City for inspection for the purpose <br />of determining the basis for the allocation of costs to fire protection.