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its consolidated financial statements, which will be prepared and reviewed by a public accounting <br />firm chosen by VOA and acceptable to the City. <br />2. Proposed Budget. As part of its proposed service plan due by May 1 of each <br />year (see Section 1.A above), VOA will provide a detailed proposed Center budget for the upcoming <br />fiscal year that clearly reflects planned income and expenditures for management, operation and <br />maintenance of the Center. <br />3. Internal Control Manual. VOA agrees to operate the Center in accordance <br />with the City's Internal Control Manual, which is on file with the City's Clerk Office and Parks and <br />Facilities Department. The City retains the right to modify the Internal Control Manual as necessary <br />to adjust for changes in administrative policy or operating conditions. <br />B. Compensation <br />1. September 1, 2021 to December 31, 2021. During the first four months of <br />the term of this Agreement (that is, from September 1, 2021 until December 31, 2021), City shall pay <br />VOA $28,750 per month as complete compensation for all Services. <br />2. Subsequent Years. Beginning in calendar year 2022, the City will pay the <br />following monthly compensation to VOA as complete compensation for the Services: <br />Year <br />2022 <br />2023 <br />2024 <br />2025 <br />2026 <br />2027 <br />2028 and <br />after <br />Monthly <br />Payment <br />$37,500 <br />$29,167 <br />$25,000 <br />$20,833 <br />$16,667 <br />$12,500 <br />$0 <br />Monthly compensation may be decreased by an Agreed Service Plan. However, monthly <br />compensation may not be increased by an Agreed Service Plan. <br />In 2028 and after, the City will not pay compensation for the Services. At that time, VOA will be <br />completely compensated for the Services by VOA's retention of rental, fee and concession income <br />as set forth in Section VI.0 below. <br />C. Rental, Facility Fee and Concession Income <br />Except to the extent specifically provided otherwise in a current Agreed Service Plan, the <br />following shall govern rental, fee and concession income: <br />• Income from rental of the Center, membership fees, parking sticker fees, program <br />fees and concessions shall be VOA income. <br />• Income from hourly and after hours Center parking will be retained by the VOA. <br />7 <br />