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<br />incurred directly in the Chamber's tourism promotion activities. The Chamber shall track all <br />administrative expenses related to this contract, including any allocation of personnel resources, and <br />report such expenses to the City as part of the reports required in Section 2.C, below. <br />D. The Chamber shall maintain the CVB Funds provided by the City under this Contract (the <br />"CVB Funds") in a separate account, and the Chamber shall not commingle the funds in that account <br />with any other money, or maintain them in any other account. <br />E. The Chamber shall maintain complete and accurate financial records of each expenditure <br />of the CVB Funds and, at the request of the City Manager or his designee, or of any other person, <br />shall make the records available for inspection and review during normal business hours. <br /> <br />2. USE OF CVB FUNDS <br />A. The Chamber shall expend CVB Funds for general promotional and tourist advertising for <br />the City of San Marcos and conducting a solicitation and operating program to attract visitors and <br />conventions to the City. <br />B. The Chamber shall make these expenditures in conformance with and in proportion to the <br />Convention and Visitor Bureau budget for 2007-2008 which is marked Exhibit A and attached to this <br />Contract for all intents and purposes as though fully set out herein. The Chamber Board, on <br />recommendation of the CVB Advisory Board, may approve amendments to the budget to transfer <br />funds among line items. In addition, the CVB Advisory Board may recommend, and the Chamber <br />Board may approve, amendments to the budget to include Additional City Funds, if available, as <br />described in Section I.B above. The Chamber acknowledges that the City's approval of this budget, <br />and the CVB Advisory Board's recommendation of amendments to the budget, create a fiduciary <br />duty in the Chamber with respect to the CVB Funds provided by the City to the Chamber under this <br />Contract. All expenditures of CVB Funds shall be subject to monitoring by the CVB Advisory <br />Board under Section 4.C. below. <br />C. The Chamber shall submit to the City Clerk, in electronic format, a report on or before the <br />following deadlines, with a copy to the City Manager and the City Finance Manager, describing the <br />activities and expenditures resulting from previously allocated CVB Funds during the respective <br />reporting period: <br /> <br />2 <br />