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TTF:M 2 - PROJECT U G ��- ' <br /> Under the Act� the Department may enter into a grant agreement to <br /> implement Grantee's approved program of expenditures, within the <br /> following limitations: 1) not to exceed forty-five percent (458') <br /> of Grantee's eligible operating expenses incurred by the Grantee <br /> during fiscal year 1995 in the provision of such public <br /> transportation services as have been approved by the Department; <br /> and 2) in no event shall state funding under this Agreement <br /> together with any operating assistance received from any federal, <br /> state or local agency in fiscal year 1995 exceed Grantee's actual <br /> operating deficit for that year. <br /> The Department has approved and agrees to make a grant in the <br /> amount of $975�000, subject to the limitations contained in this <br /> Item� the Act and the Rules. The Approved Pro3ect Budget is <br /> shown in Exhibit A� attached to and incorporated into this <br /> Agreement. <br /> In the event that combined state and federal operating � <br /> assistance grants for fiscal year 1995 exceed Grantee's actual <br /> operating deficit� Grantee agrees to promptly request a decrease <br /> in its grant� and shall remit to the State any excess funds <br /> received. For purposes of this Agreement� the term "operating <br /> deficit" shall have the meaning set forth in Section 2-2.03 of <br /> the Act (30 ILCS 740/2-1 g� sea.) : "the amount by which eligible <br /> operating expenses exceed revenue from fares� reduced fare <br /> reimbursements, rental of properties, advertising� and any other <br /> amounts collected and received by a provider of public <br /> transportation, which, under standard accounting practices, are <br /> properly classified as operating revenue or operating income <br /> attributable to providing public transportation and revenue from <br /> any federal financial assistance received by the participant to <br /> defray operating expenses or deficits. For purposes of <br /> determining operating deficits, local effort from local taxes or <br /> its equivalent shall not be included as operating revenue or <br /> operating income." <br /> Grantee agrees to commit the necessary local funding to cover� <br /> costs incurred in providing public transportation which are not <br /> reimbursed under this Agreement or by other federal, state or <br /> local assistance programs. . <br /> TT�M 3 - SUBJECT TO APPROPRIATIONS CLAUSE <br /> This Agreement is contingent upon the availability of suffiicent <br /> funds and the appropriation and release of such funds as required <br /> by law. <br /> . 2 <br />