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<br /> <br /> <br /> <br /> <br /> <br /> <br /> Authority cost for operational services for that fiscal year compared to the capped <br /> <br /> Service Charge for each cash contract City for that year. The difference between these <br /> amounts shall be referred to as the "Five-Year Shortfall." <br /> <br /> The data will be reviewed and analyzed jointly by the City Managers' <br /> <br /> Technical Advisory Committee and City Managers' Budget & Finance Committee to <br /> <br /> confirm the amount of the Five-Year Shortfall, if any, and to determine whether that <br /> <br /> amount has exceeded the percentage thresholds set forth below which would in turn <br /> <br /> trigger an adjustment of the Service Charge. If, after reviewing the data which has been <br /> <br /> compiled, the joint Committees and the Authority cannot agree on the calculations or <br /> <br /> the data used to calculate the amount of the Five-Year Shortfall, the Authority reserves <br /> <br /> the right to retain an independent auditor to review the calculations and data. The <br /> independent auditor's results as to the calculated amount of the Five-Year Shortfall shall <br /> <br /> be final and binding. <br /> <br /> Modifications to the Service Charge, if any, shall be as follows. If the Five- <br /> <br /> Year Shortfall is less than seven and one half percent (7.5%) of the actual annual <br /> <br /> Authority costs, for a cash contract City, no additional amounts shall be owed by the <br /> <br /> City. If any Five-Year Shortfall exceeds seven and one half percent (7.5%), a cash <br /> <br /> contract City shall pay for the portion of the shortfall necessary to reduce the shortfall <br /> <br /> below seven and one half percent (7.5%). If the Five-Year Shortfall is between seven <br /> <br /> and one half percent (7.5%) and fifteen percent (15%), the amount shall be paid in its <br /> entirety in the following fiscal year. If the Five-Year Shortfall is more than fifteen percent <br /> <br /> (15%), that amount shall be paid through equal amortized installments over the <br /> <br /> subsequent five year period. Payment of the Five-Year Shortfall in excess of seven and <br /> <br /> <br /> <br /> 5 <br /> 554584.1 <br /> 60C-49 <br />