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<br />EXHIBIT B
<br />
<br />PAYMENTS
<br />
<br />Pursuant to the Agreement for Services between The San Mateo County Children & Families First Commission
<br />and The City of Redwood City (Redwood City 2020) entered onto on July 01,2001, the Commission shall pay, as
<br />described in Attachment B, attached hereto and incorporated by reference herein, to The City of Redwood City
<br />(Redwood City 2020) for services rendered, over the term of this contract from July 01, 2001 to June 30, 2004.
<br />
<br />Attachment B reflects the budget for the first year of the contract, July 01, 2001 to June 30, 2002. It is understood
<br />and agreed that Contractor will submit an updated budget for each succeeding year by June 01, 2002 and 2003,
<br />respectively and receive written approval from the Executive Director, after consultation with the Chair of the
<br />Commission, prior to commencing the second and third year provided, however, that there shall be no change in
<br />the maximum amount payable under this Agreement. It is anticipated that the budget will be amended, with written
<br />approval of the Executive Director, upon review of the prior year's progress reports. It is also understood that
<br />contractor may earn money from funds received under this contract. Any monies earned from investments or
<br />otherwise shall be expended on services provided under this contract. Provision for expenditure of this money shall
<br />be included in the budgets for years two and three. -
<br />
<br />1. The Commission shall pay Contractor based on a 50/40/10 formula whereby 50% of the Maximum Amount of
<br />the annual award shall be released to the Contractor upon approval and execution of the contract. After a
<br />review of the Contractor's Semi-Annual Progress Report, 40% of the Maximum Amount of the annual award
<br />shall be released. The remaining 10% shall be released after a review of the Contractor's Annual Progress
<br />Report (see schedule below).
<br />
<br />Guidelines for the progress reports will be provided by the Commission staff and shall include a descriptive
<br />narrative, tracking of the approved timeline and work plan (scope of work), and a detailed financial accounting
<br />of all grant funds spent in comparison with the approved budget.
<br />
<br />2. Payment shall be conditioned on the performance of the services described in Exhibit A to the full satisfaction of
<br />the Executive Director, on behalf of the Children & Families First Commission.
<br />
<br />3. The amount that the Commission shall be obligated to pay for services rendered under this Agreement shall not
<br />exceed $659,181 for the contract term, July 01,2001 to June 30,2004.
<br />
<br />4. Payment is contingent upon satisfactory performance, appropriate grant management, and timely reporting.
<br />
<br />5. Contractor shall expend funds received, in accordance with the budget as described in Attachment B, attached
<br />hereto and incorporated by reference herein, or as approved later by the Executive Director, after consultation
<br />with the Chair of the Commission.
<br />
<br />Year 1 Year 2 Year 3
<br />Maximum Maximum Maximum
<br />Amount: Amount: Amount:
<br />$251,620 $226,070 $181,491
<br />
<br /> Funding: 50/40/10
<br />Year 1 Year 2 Year 3
<br />50% - $125,810 50% - $113,035 50% - $90,746
<br />40% - $100,648 40% - $90,428 40% - $72,596
<br />10% - $25,162 10% - $22,607 10% - $18,149
<br />
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