OTHER-2023-011 Transit Governance Interlocal Agreement between Orange County Durham-Chapel Hill-Carrboro Metropolitan Planning Organization and Research Triangle Regional Public Transportation Authority

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Article IX Process for Capital , Non - Capital , Infrastructure , and Service Delivery Projects Reporting 9 . 01 The Tax District shall be reported as a Component Unit and shall include the Orange Transit major operating and capital funds separate from any and all major funds and /or other special tax districts within the Tax District, in the body of annually audited financial statements as required by GASB standards for major funds reported by blended component units . As administrator of the Tax District, GoTriangle shall present an annually audited financial statement for the separate component unit by December 15' of the subsequent fiscal year to the Orange County Board of Commissioners, DCHC MPO Board , and GoTriangle Board of Trustees . 9 . 02 At the time of the presentation of the annually audited financial statements, GoTriangle shall present an update of the Orange County Transit Annual Work Program projects including project milestones and timelines and operations of the system . This presentation shall be considered an Annual Orange Transit Report . 9 . 03 GoTriangle, as administrator of the Tax District, shall issue the following to the parties of this agreement, as well as any associated project sponsors : a . Enhanced Quarter- 2 Report for half-year period ending December 31St , to the SWG for the Orange Transit major operating and capital funds . This Report will be due to the SWG Administrator by March 15t" . The format of this report shall be agreed upon by the Parties to this Agreement by June 30, 2023 . b . Quarterly Financial Condition Report . This report will be due 45 days after the end of each quarter which provides statement of financial condition of all program / plan implementation elements prepared in accordance with N . C . G . S . 159 -25 . Quarterly Financial Condition Report shall apply for all quarters but shall also be incorporated elements into the Enhanced Quarter- 2 and Annual Reports . 9 . 04 At the time of the submittal of the Enhanced Quarter- 2 reports, each agency that has a project funded in that fiscal year through the annual work program shall also submit an update of projects including project milestones and timelines and transit operations . The format of the Enhanced Quarter- 2 Repot and Quarterly Financial Condition Report shall be agreed upon by the Parties of this agreement by September 1 , 2023 . Article X Agreement Related Dispute Resolution It is the desire and intent of the Parties to resolve any disputes in a collaborative manner and to avoid , if possible, the expense and delay of litigation . In the event that any Party cannot resolve an issue with another Part under this Agreement, the affected party shall engage in the following process :