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Alameda CTC Agreement No. A26-0097 <br /> <br />Page 3 of 7 <br /> 2026 MPFA <br />ARTICLE II: PAYMENTS AND EXPENDITURES <br /> <br />A. ALAMEDA CTC’S DUTIES AND OBLIGATIONS <br /> <br />1. ALAMEDA CTC shall provide for an independent annual audit of its financial statements <br />including revenues and expenditures and render an annual report to the COMMISSION within 180 days <br />following the close of the fiscal year. <br /> <br />2. 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 and the Measure B Expenditure Plan. <br /> <br />B. RECIPIENT’S DUTIES AND OBLIGATIONS <br /> <br />1. RECIPIENT shall expend all Measure B funds received in compliance with the applicable <br />guidelines and the Measure B Expenditure Plan, including the Implementation Guidelines and performance <br />measures, as they may be adopted or amended by ALAMEDA CTC from time to time. <br /> <br />2. RECIPIENT shall maintain an appropriate system of accounts in accordance with GAAP to <br />report on Measure B funds received and expended. RECIPIENT must account for Measure B funds, including <br />any interest received or accrued, separately for each fund type, and from any other funds received from <br />ALAMEDA CTC. The accounting system shall provide adequate internal controls and audit trails to facilitate <br />an unmodified annual financial and compliance audit for each fund type and the respective usage and <br />application of said funds. ALAMEDA CTC and its representatives, agents and nominees shall have the absolute <br />right at any reasonable time to inspect and copy any accounting records related to such funds, except to the <br />extent specifically prohibited by applicable law. <br /> <br />3. RECIPIENT shall establish and maintain systems, such as policies and procedures, to ensure <br />that Measure B DLD funds are used exclusively for eligible transportation purposes. <br /> <br />4. RECIPIENT shall expend Measure B funds in compliance with the Timely Use of Funds <br />Policies for Direct Local Distributions, as approved by the COMMISSION, and as they may be adopted or <br />amended by ALAMEDA CTC from time to time. <br /> <br />C. OTHER EXPENDITURE RESTRICTIONS <br /> <br />1. Transportation Purposes Only: RECIPIENT shall use all Measure B funds solely for <br />transportation purposes as defined by the authorizing ballot measure. Any jurisdiction that violates this <br />provision must fully reimburse all misspent funds, including all interest which would have been earned <br />thereon. <br /> <br />2. Non-Substitution of Funds: RECIPIENT shall use Measure B funds to supplement and not <br />replace existing local revenues used for transportation purposes. <br /> <br />Docusign Envelope ID: DF4522C6-B536-8D98-8396-59F24D864EB6