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67 <br /> Article IX <br /> Process for Capital, Non-Capital, Infrastructure,and Service Delivery Projects Reporting <br /> 9.01 The Tax District shall be reported as a Component Unit and shall include the Orange Transit <br /> major operating and capital funds separate from any and all major funds and/or other special <br /> tax districts within the Tax District, in the body of annually audited financial statements as <br /> required by GASB standards for major funds reported by blended component units.As <br /> administrator of the Tax District,GoTriangle shall present an annually audited financial <br /> statement for the separate component unit by December 15"of the subsequent fiscal year to <br /> the Orange County Board of Commissioners, DCHC MPO Board,and GoTriangle Board of <br /> Trustees. <br /> 9.02 At the time of the presentation of the annually audited financial statements,GoTriangle shall <br /> present an update of the Orange County Transit Annual Work Program projects including <br /> project milestones and timelines and operations of the system.This presentation shall be <br /> considered an Annual Orange Transit Report. <br /> 9.03 GoTriangle, as administrator of the Tax District,shall issue the following to the parties of this <br /> agreement,as well as any associated project sponsors. <br /> a. Enhanced Quarter-2 Report for half-year period ending December 31St.to the SWG for <br /> the Orange Transit major operating and capital funds.This Report will be due to the <br /> SWG Administrator by March 15'. The format of this report shall be agreed upon by <br /> the Parties to this Agreement by June 30,2023. <br /> b. Quarterly Financial Condition Report.This report will be due 45 days after the end of <br /> each quarter which provides statement of financial condition of all program/plan <br /> implementation elements prepared in accordance with N.C.G.S. 159-25.Quarterly <br /> Financial Condition Report shall apply for all quarters but shall also be incorporated <br /> elements into the Enhanced quarter-2 and Annual Reports. <br /> 9.04 At the time of the submittal of the Enhanced Quarter-2 reports,each agency that has a project <br /> funded in that fiscal year through the annual work program shall also submit an update of <br /> projects including project milestones and timelines and transit operations. The format of the <br /> Enhanced Quarter-2 Repot and Quarterly Financial Condition Report shall be agreed upon by <br /> the Parties of this agreement by September 1, 2023. <br /> Article X <br /> Agreement Related Dispute Resolution <br /> It is the desire and intent of the Parties to resolve any disputes in a collaborative manner and to avoid, if <br /> possible,the expense and delay of litigation. In the event that any Party cannot resolve an issue with <br /> another Part under this Agreement,the affected party shall engage in the following process: <br />