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(c) Contributions by the Parties. <br />(1) Administrative Cast C;antanbutions. The County shall be <br />yes onsible far tiCHFT'a administrative costs far one year following the creation of <br />OC` �ilFT. After this initial year, and in consideration of the mutual promises <br />contained herein, the Parties agree that they shall make ,annual contributions <br />towards the bud eted administrative costs of QCHFT in accordance with a cost <br />allocation formu a to be approved by the Board of Directors. By unanimous vote, the <br />Board of Directors may waive a parties' contribution toward OCHIt T s <br />administrative coats. A Party'& contribution to OC1171% administrative costs shall <br />be in the form of money, unless the Berard, approves another form of contribution <br />such as services, personal property or use of real or personal property, or other in - <br />kind contributions. The acceptance and valuation of any such non-monotary <br />contributions shall be as determined by the Board. <br />(2) Program Cleat Contributions. The articular programs and <br />pro am budget, funded, sponsored or oporated by CICI�F�'„ as wail as the level 0& <br />an mechanisms for, the involvement o#' IOCH T and each Party, in sue la ��arrograms <br />and program budget„ shall be determined and approved by the Board of llirectors. <br />A Part,y�s individual contribution, involvement and role in an), particular pro am <br />or the budgeted program, casts shall be as may be mutually agreed between the <br />Party and OCHFT. <br />( Acco atA. <br />(1) leas and Records. There shall be strict accountahility of all <br />OCHFT funds and accounts and report of all OCHFT receipts and disbursements.. <br />Without limiting the generality of the foregoing, OCHFT shall establish and <br />maintain such funds and accounts as may be required by good accounting practice. <br />'Clue books and records of QC Hi'T shall be open to Wpoction at all reasonable times <br />by each Party and its duly authorized representatives. <br />(2) Annual Audit. The person appointed by the hoard of Directors to <br />perform the auditor function for OCHFT shall cause an annual independent audit of <br />the accounts and records of OCHFT and records to be made by a coiti ed public <br />accountant or firm of certified public accountants in accordance with Gover ment <br />Code section 6505. Such audits shall be delivered to each Party and shall be made <br />available to the public. <br />(3) Ann 1 a in ancial Reggrt. Pursuant to section 6539.5 of the <br />Government Code, OCII shall pu rlis z an Annual Financial Report that shall <br />describe the funds received by fJC"IIFT and the use of such funds by OCHFT. The <br />Annual F"financial lleport shall describe how the funds received by OCHFT have <br />furthered the purpose of OCHFT. <br />(e) and . Sub cot to the applicable provisions of an instrumentor <br />aLyrooent u4 arh CIIFT may enter into, which may, provide fora trustee or other <br />fiscal anent to receive, have custody of and disburse CICHFT funds, the person <br />a pointed by the Board of Directors to perform the treasurer function for OCHrr <br />shall receive, have the custody of and disburse OCHFT funds as nearly as possible <br />in accordance with generally accepted accounting practices, shall make the <br />disbursements required by this Agreement or to carry out any of the provisions or <br />purposes of this Agreement. <br />8 <br />Resolution No. 2019-035 <br />Page 12 of 16 <br />