Budgeting/Purchases on Behalf of City Sample Clauses

Budgeting/Purchases on Behalf of City. Contractor shall submit budget proposals for the Events by January 31st of each year. The City shall promptly review and request revisions or approve the budget proposals by March 1st of each year. Contractor shall perform and complete the services set forth in Attachment A within the final budget agreed to by the Parties in writing (“Approved Budget”). 5.1. Purchases on behalf of City equal to $20,000, but less than $50,000. Any expense related to the purchase of any assets or equipment on behalf of the City in an amount equal to or greater than $20,000 (Twenty thousand dollars), but less than $50,000 (Fifty thousand dollars) shall require pre-approval from the City Administrator. Any expenditures made under this category without pre-approval will be the sole responsibility of Contractor. 5.2. Purchases equal to or greater than $50,000. Any expense related to the purchase of any assets or equipment on behalf of the City in an amount equal to or greater than $50,000 (Fifty thousand dollars) shall require pre-approval from the City Council, in accordance with the City’s public contracting code. The Finance Director shall also be informed of the asset purchase price and description for auditing purposes. Any expenditures made under this category without pre-approval will be the sole responsibility of Contractor.
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