Item 13 - County of Orange Funded Downtown Business Interruption Fund

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Page 4 of 7 b. Tax Reporting. City is responsible for any tax reporting requirements that arise from City’s distribution of economic support to Small Businesses, including the filing of any required tax forms with the IRS and the issuance of any required tax forms to recipients of economic support from the City. 5. REPORTS. a. Final Report. Upon the earlier of the City’s expenditure of the balance of the grant amount or December 31, 2022, the City shall provide a report to the County that shall: (1) identify the Eligible Expenses paid from the grant amount; (2) identify the name and location of each Small Business, which received a SBIF Grant was funded by the grant amount, and the amount of the SBIF Grant paid to each Small Business; and (3) state the balance of the grant amount that the City has not spent, if any. b. The City shall provide a certification signed by its chief executive officer with each report required under this Paragraph 5 that the statements contained in the report are true and that the expenditures described in the report comply with the uses permitted under Paragraph 2. c. The City shall maintain supporting documentation for the reports required by this Paragraph 5 consistent with the requirements of Paragraph 6. 6. RECORDS MAINTENANCE. Records, in their original form, must be maintained in accordance with requirements prescribed by the County with respect to all matters specified in this Agreement. Original forms are to be maintained on file for all documents specified in this Agreement. Such records must be retained for a period four (4) years after termination of this Agreement and after final disposition of all pending matters. “Pending matters” include, but are not limited to, an audit, litigation or other actions involving records. Records, in their original form pertaining to matters covered by this Agreement, must be retained within the County of Orange unless authorization to remove them is granted in writing by the County. 7. RECORDS INSPECTION. At any time during normal business hours and as often as either the County or the Auditor General of the State of California may deem necessary, City must make available for examination all its records with respect to all matters covered by this Agreement. The County and the Auditor General of the State of California each have the authority to audit, examine and make excerpts or transcripts from records, including all City's invoices, materials, payrolls, EXHIBIT 1