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A. Annual Budget <br />For the calendar year next following the calendar year in which the Effective Date occurs <br />and all subsequent years, the Commission shall establish and approve a budget. Each <br />Financial Member shall be assessed for its proportionate share of the budget according to <br />the schedule established above. The Commission shall establish its first budget within <br />sixty (60) days of the commencement of the Commission. <br />B. Financial Members9 Bud a-ilf- A n"vv- val <br />Adoption of the budget and any other matter requiring expenditure of funds shall be in <br />accordance with Article 5 of this Agreement, <br />C. Contribution Date <br />Except for any initial contribution required by this Agreement, assessments made under <br />the provisions of this article shall be paid by each Financial Party by January 15 of each <br />year. The initial contribution shall be made within sixty (60) days of the adoption of the <br />budget pursuant to Article 7(A) hereof. <br />D. Bud geti ), g Accounti c, Fiscal Agent and Other Services <br />Inc Commission may contract with any Party to provide contract management, legal <br />review, and budgeting and accounting services necessary or convenient for the <br />Commission and otherwise act as the Commission's fiscal agent. Such services shall <br />include, but not be limited to, management of all funds, including contributions and grant <br />monies, payment for contracted services, and relevant booldceeping and record keeping. <br />The contracting and purchasing requirements of the Party so selected shall apply to <br />transactions of the Commissions. Such Party shall identify the staff person to work as <br />liaison with the Commission. <br />& Effect of Withdrawal, DiSIDosition of Pr o Dertv Funds and ObI . ations <br />A Financial Party withdrawing from this Agreement shall, prior to such withdrawal, pay <br />11 <br />the full amount of any unpaid assessments to the Commission as defined in Article 9. A <br />Party withdrawing from this Agreement shall not receive a distribution of property or <br />i—ne—n��s­a -S'et—tiiig—s,crai—g.dawso—n\LocaI <br />7 ttings\Ternporary Internet Files\Content.Outlook�TDZ5KGXY\1-94-JPA,-3-3-09 Final with <br />Signature (2).doc <br />