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ATTACHMENT 2 <br /> committees and general membership meetings; work with City staff and a City Council <br /> appointed Advisory Board, pursuant to Section 36000 et seq. of the California Streets and <br /> Highways Code, to review the changes in state law, and to consider the advantages and <br /> disadvantages of assessing property owners as part of the District. <br /> (e) City staff will meet with the Executive Director and the Organization Committee <br /> at the beginning and end of each fiscal year to review work plans,and accomplishments in <br /> accordance with this Agreement. <br /> (5) BUDGET. <br /> (a) The Association shall submit to the City Manager or City Finance Director a budget <br /> in a form approved by the City, for consideration by the City Council, no later than the <br /> thirtieth day of November of each year. <br /> (1) The budget shall estimate overall revenues and expenditures for the fiscal <br /> year commencing the next January 1st. <br /> (b) Said budget shall include the proposed expenditure of all revenues of the <br /> Association from sources other than the revenue received pursuant to this Agreement(e.g., <br /> contributions, events). <br /> (c) City staff will meet at the beginning and end of each fiscal year, and as necessary, <br /> with the Executive Director and the Executive Committee to ensure funding is spent as <br /> authorized by the City Council. <br /> (6) FINANCIAL REPORTS. The Association shall submit to the City Economic <br /> Development Director, City Finance Director,or designee, as requested a monthly income <br /> statement and an updated balance sheet indicating the Association's current financial <br /> position. Said reports may be provided as part of the Association's monthly Board of <br /> Directors meeting materials. <br /> (7) FUNDING OF DOWNTOWN ASSOCIATION. <br /> (a) Assessments will be charged to each business within the District based upon a <br /> schedule of assessments reviewed and adopted by the Board of Directors and the City <br /> Council. <br /> (1) The Association and City staff will initiate review of the existing assessment <br /> structure by 2021, from which to make a recommendation to the City Council for a <br /> revised assessment structure that helps to ensure the fiscal sustainability of the <br /> Association and support enhancement of the District. <br /> (b) The City will provide a contribution to the Association equal to the annual <br /> assessments. <br /> (c) The City and the Association have entered into a separate use agreement for the <br /> 3 <br />