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Home My WebLink About1527 Five Hundred Dollars ($500.00), or not exceeding One Thousand Dollars ($1,000.00), when approved by the treasurer of the Association. All other budgeted expenditures may be made only. with the approval of the Board of Directors except in case of emergencies requiring prompt' action to minimize loss. C. Supervising Expenditures. Agent shall supervise expen- ditures of budgeted and unbudgeted costs. D. Taxes. Agent shall prepare and file all forms required pertaining to withholding taxes, Social Security, unemployment com- pensation and all other such forms required in connection with the employment of employees of the Association and the Agent. E. Records and Books of Account. Agent shall establish and maintain records contemplated by other provisions of this manage- ment agreement including account records for each unit. Such records shall be kept current at all. times. F. Monthly Statements. Agent shall not later than the tenth day of each month render a monthly statement to the Board of Directors supported by disbursement vouchers and bills setting forth the receipts and disbursements of the Association for the preceding month. Agent shall further remit to the Board any amounts collected during the preceding month less (1) disbursements made pursuant to this agreement for the care and maintenance of the property (including Agent's compensation hereunder), and (2) such amounts as may in Agent's judgment be necessary or advisable to be retained as reserves for future obligations. G. Monthly Statement Per Unit. Agent shall furnish monthly to the Board a statement of account pertaining to each unit. H. Annual Report. Agent shall prepare and submit to the Board an annual operating budget setting forth anticipated income, anticipated expenses, costs of operation and other items set forth in the By-Laws of the Association for each coming year. The annual operating budget shall show for purposes of comparison the actual income received for the previous year and the actual ' -2- EXHIBIT G Bd~K~~ PAGE~~~O .