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FINANCIAL PROJECTNO. 40719018401_ <br /> EKMBIT " B " <br /> PROJECTBUDGET <br /> This exhibit forms an integral part of that certain Joint Participation Agreement between the <br /> State of Florida, Department of Transportation and the Indian River County Board of County <br /> Commissioners referenced by the above Financial Prflject Number, <br /> PROJECT ESTEKATED AND PROGRA MMD BUDGET: <br /> The Department has programmed the funding amounts shown below in the most currently adopted <br /> Work Program. The funding for subsequent years is based upon federal and/or state appropriation <br /> levels and on the distribution formula as outlined in Exhibit "C" . This funding will be made available, <br /> annually, in the following manner. After all program requirements have been met, the Department <br /> will encumber funds for that fiscal year and will advise the agency in writing of the amount of fiuiding <br /> available and the beginning date when eligible project costs may be incurred. This notification must <br /> be signed by the agency and returned to the Department. <br /> F'Y2004/2005 <br /> Local Funding (LF) ( 50 %) $ 298,610 <br /> Federal Reimbursable (DU) ( %) $ <br /> State Funding (DDR) ( 50 °leo) $ 298,610 <br /> TOTAL PROJECT COST $ 597,220 <br /> A1A)M'v M DEPAR'I'1V W PARTICIPATION $ 298,610 <br />