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L <br />May be made administratively by Orange County; transfers over $1,000 require the consent <br />from the Durham County Manager or his designee. <br />5. Annual Reports. Reports on the activities in the park may be prepared annually (or as <br />otherwise needed) for presentation d—by Durham and /or Orange 40counties. Any <br />reports prepared for presentation by one county hould be shared with the other county. <br />III. Park Funding. <br />I. Annual Operations. All operating and maintenance costs of the Park shall be shared equally <br />by both counties (Orange County 50% and Durham County 50 %). Orange County shall be <br />responsible for operating and maintaining the Park and shall invoice Durham County twice <br />annually for 50% of the actual operating and maintenance costs, including building and <br />grounds maintenance, personnel costs, indirect costs, property insurance and any other costs <br />incurred to properly operate and maintain the Park. Notwithstanding the foregoing, Durham <br />County shall not share in the cost to repair damage to the Park and its facilities caused by the <br />intentional or gross negligent acts and omissions of Orange County personnel or its <br />contractors in the performance of their obligations rendered pursuant to this Agreement. <br />Orange County shall not share in the cost to repair damage to the Park and its facilities <br />caused by the intentional or gross negligent acts and omissions of Durham County personnel <br />or its contractors in the performance of their obligations rendered pursuant to this Agreement. <br />In no event shall the amount invoiced exceed the budgeted amount for the Park in the then <br />current fiscal year. <br />2. Emergency Expenses. Amounts budgeted for the Park as part of each county's annual <br />budget may be increased to cover unforeseen and unbudgeted expenses. Such unforeseen and <br />unbudgeted expenses shall be invoiced as provided here but only after it is approved by both <br />County Managers and both Boards as an amendment to the applicable Park budget. Provided, <br />however, emergency repairs (as defined herein) needed may be undertaken after their cost is <br />approved in writing by both County Managers. For purposes of this Agreement, the term <br />"emergency repair(s)" shall mean those repairs made necessary as the result of natural <br />occurrences that cannot be postponed for approval of a budget <br />amendment by both Boards. After the costs are approved by the County Managers, both <br />Boards shall be presented with said emergency repair costs as an amendment to the <br />applicable Park budget at the next regularly scheduled Beaf&meeting of each Board. Each <br />county will provide to the other 42county detailed accounting of both direct and indirect <br />costs for reconciliation purposes. Insurance reimbursement for repairs shall be accounted for <br />in the applicable Park budget and made a part of the reconciliation. <br />Alternate County Expenses. <br />a. Single County Expenses. Notwithstanding the foregoing, either Ecounty may budget <br />and /or expend funds for Park activities which the other 6county will not or cannot <br />approve, so long as such expenditure or any portion thereof is not invoiced to the <br />other 6county for reimbursement or charged against the other Ecounty as an <br />expenditure. Such unshared expenditures shall not be considered a part of the Park <br />budget and shall not become a cost to be reimbursed. Any such activities financed by <br />Page 4 of 10 <br />