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DocuSign Envelope ID:9AAF6143-A2AO-4DDA-BFCB-7FOCAFAEFC3D <br /> 4. Partner Agency Funds, Each partner Agency and Partner <br /> Equivalent Agency must pay its Annual Assessment to the City no <br /> later than 60 calendar days after receipt of the invoice. <br /> It. ARIC FUND <br /> A. The City shall establish a separate fund for the ARIC in its accounting <br /> records ("ARIC Fund") that is dedicated to the administration of the <br /> ARIC. All funds received from Partner Agencies and Partner Equivalent <br /> Agencies and other ARIC revenues, including income earned from <br /> investment of the ARIC Fund, shall be credited to the ARIC Fund, All <br /> ARIC obligations shall be debited from the ARIC Fund. The records for <br /> the ARIC Fund shall be maintained in compliance with generally accepted <br /> accounting principles. <br /> B. Investment Income. The ARIC Fund is invested by the City in the same <br /> manner as the City invests its excess funds. Any income earned on the <br /> funds invested from the ARIC Fund is credited to the ARIC Fund for the <br /> benefit of the ARIC, unless otherwise required by law. Any income <br /> earned in the current year will be retained and used to fund anticipated and <br /> unanticipated costs in subsequent years, as approved by the Operational <br /> Management Team and the Executive Board. <br /> C, Quarterly Statements. Within 30 days after the end of each quarter, the <br /> City must provide quarterly statements showing the credits to and debits <br /> from the ARIC Fund, including any income earned, to each Partner <br /> Agency and Partner Equivalent Agency. The quarterly statements must <br /> include beginning and ending ARIC Fund balances. Statements for `year- <br /> end' fund status must be provided as soon after year-end closeout as <br /> possible but in no event more than 45 days after the end of the Fiscal Year. <br /> 17 <br />