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EXHIBIT A <br />Administrative Budget <br />A maximum of ten percent (10) of the annual local distribution to the Indian River County Local <br />Housing Assistance Trust Fund (IRCLHATF) may be expended to provide for the costs of <br />administering and implementing the IRCLHAProgram. The Board of County Commissioners has <br />made a finding by separate resolution that expenditures for administration and implementation of the <br />IRCLHAProgram may exceed five percent (5%) of the IRCLHATF annual balance; however, at no <br />time shall the funds expended for administration and implementation of the IRCLHAProgram exceed <br />ten percent (10%) of the local distribution for that fiscal year. <br />Besides the state annual allocation, the SHIP program trust fund receives other income from sources <br />such as loans that are paid back and interest earned on the funds deposited into the affordable housing <br />trust fund. These funds are referred to as program income. According to state rules, ten percent (10%) <br />of the program funds may be used for administration expenditures. <br />Expenditures of funds from the IRCLHATF shall be monitored on a regular basis for compliance with <br />the expenditure limitation established by the Board of County Commissioners. <br />Administration and implementation activities of the IRCLHAProgram, which may be funded with <br />SHIP funds, shall be limited to those items associated with conducting the administration and <br />implementation activities listed in this Plan. <br />Examples of the items, which may be funded, include the following: <br />a. Staff salaries and benefits to conduct the administration and implementation activities <br />b. Purchase of office supplies and materials to produce materials and documents required for the <br />program <br />c. Travel expenditures related to conducting and operating the Program <br />d. Expenses related to advertising the availability of funds <br />d. Expenses for contract for professional services rendered for information or administration and <br />implementation activities provided by third parties for the Program <br />‘%- 50 <br />