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121. assessed valuation of the year precedingthe budget <br />g year and the three 4t <br />122. previous years average of the man hours provided to the contracting city. <br />123. These will be then balanced equally giving each participating city its <br />124. percentage share of the budget for the coming year. <br />125. 3) By September 1 of each year during which this contract remains <br />126. in effect, the City of Mound shall notify each contracting city of prelim- <br />127. inary cost estimates for the next contract year. By October 1 of each <br />128. year the City of Mein hall notify each contracting city of the estimated) <br />129. costs for the next pact year. The final estimated cost shall be paid <br />i <br />130. in equal quarterly installments on January ',1, April 1, July 1, and Octo- <br />131. ber 1 of the next contract year by the contracting city to the City of <br />132. Mound. <br />133. The contracting city understands and agrees that is it impossible <br />1'4. to project with complete accuracy the actual costs for labor and equipment <br />�. as well as the service 10 be required by each city for the forthcoming <br />136. contract year, and therefore hereby agrees to a _yearly audit to adjust the <br />137. prior year's estimated cost of service as set forth above to the actual <br />13B. costs incurred by the City of Mound. On or before April 1 of each year <br />139. commencing in 198B, the City of Mound will tabulate the actual cost of <br />140. Fire Department Budget for the prior contract year ar,d will submit to eac <br />141. contracting city a summary of actual costs. The actual costs set forth <br />142. for tl yrior contract year may result in either a credit or a debit to <br />143. each contracting city, if a surplus is Carried over from the prior year, <br />144. paid monies shall be placed in a reserve fu.d, said reserve fund shall be <br />145. accrued until a fund balance equal to ten percent (101) of the prior years <br />146. operating budget is arrived at. Once the reserve fund level is establishes <br />147. the contracting cities will decide whether to reduce their annual operat- <br />]48. Sng contribution to off set the operating fund balance or contribute tc <br />1,49. keel it at the ten percent (10t) reserve fund lead . The fund may be uti-I <br />150. izrd to pay any increase for service if a majority of all contracting eitil <br />151. approve, if a n�iorlt.x dogs n�' Arrrrive the annual enet nAvn�nts shall 1e <br />