Agmt18 San Mateo County Transportation Authority Measure A Funds for Ferry Program

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SECTION 2: Funding and Payment 2.1 Funding Commitment. The total cost for the performance of the Scope of Work is $510,000 (Scope of Work Costs). The TA will provide up to $450,000 of Measure A Funds, and the Sponsor will provide $60,000 in local matching funds and must provide at least 11.77% of the total Scope of Work Costs, for the performance of the Scope of Work. In no event will the TA pay out more than its 88.23% pro -rata share of the Scope of Work Costs. 2.2 Use of Funds. Any unused Measure A Funds allocated hereunder but not required to complete the Scope of Work will revert to the Measure A Ferry Program for the TA to reallocate to any eligible project through its usual funding allocation and programming activities. 2.3 Reimbursement Basis. Sponsor may seek reimbursement for Scope of Work Costs incurred on or after the Execution Date. Scope of Work Costs must be incurred and paid by Sponsor prior to requesting reimbursement from the TA. Sufficient documentation must accompany all requests for reimbursement, including the submittal of all due quarterly progress reports. 2.4 Accounting and Request for Reimbursement Procedures. Sponsor, in coordination with and to the satisfaction of the TA, will establish procedures for Scope of Work accounting and requests for reimbursement. These procedures will reflect the accumulation of the TA's share of costs for all work within the Scope of Work. Sponsor will detail the TA's share of Scope of Work costs for all work funded under this Agreement with each Reimbursement Claim Form. Sponsor will maintain all necessary books and records in accordance with generally accepted accounting principles. 2.5 Invoices; Payments. a) Sponsor must prepare and submit billing statements consistent with the "Reimbursement Claim Form," which is attached to this Agreement as Exhibit C and incorporated herein, with all required supporting documentation. Supporting documentation may include, but is not limited to, copies of vendor invoices, timesheets, backup documentation, checks, and payment advice, and must include an accounting of the TA's share of costs for the Scope of Work as contemplated by this Agreement. b) Sponsor must detail the tasks performed and associated costs, by Sponsor including the share of Scope of Work Costs to be home by the TA — with each reimbursement request. c) The TA will endeavor to disburse reimbursements for approved Scope of Work Costs within thirty (30) days after the TA's approval of each claim, subject to the limits on the TA's maximum contribution as established in Section 2.1. The TA's obligation to reimburse Scope of Work Costs to Sponsor as provided in this REV: 08-31-18 PR San Mateo County Transportation Authority/City of Redwood City Redwood City Ferry Project Page 4 of 18 14740234.2