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revenue to be contributed by the City and the County. The amount of revenue to • be contributed by the City and the County shall be determined on the basis of population at the time the budget is adopted by the Authority as reported for the most recent year by the University of Virginia's Weldon Cooper Center for Public Service, rounded to the nearest tenth (1/10) of a percent. The percentage of each of the City's and County's portion of the revenue to be contributed will be calculated by dividing its population by the combined population of the City and County. For purposes of the budget for the Authority's fiscal year beginning July 1, 2007, the percentage of the City's portion of the revenue to be contributed shall be thirty percent (30%) and the County's portion of the revenue to be contributed shall be seventy percent (70%). An example of the calculations required by paragraph 4 above and this paragraph 5 is set forth in Exhibit 1 attached hereto, and such calculations shall be made by the Authority in a manner consistent with the example in Exhibit 1. 6. Quarterly Deficit Pavments If the Authority's proposed annual budget shows an operating deficit, the City's and County's payment to the Authority pursuant to paragraph 5 above shall be made quarterly on the first day of July, October, January, and April of such fiscal year of the Authority, subject to the provisions of paragraphs 9 and 10 below. 7. Increase or Decrease in the Authoritv's Operating Deficit • Payments by the City and the County to the Authority for any particular fiscal quarter shall be increased or decreased, as appropriate to take into account any extraordinary increases or reductions in expenses and/or reductions or increases in revenue not anticipated by the adopted budget for such year upon the Authority's submission of an amended budget approved by the Authority's Board of Directors to the City and the County at least 30 days prior to the due date of the next payment. Upon completion of the audited financial statements of the Authority for the prior fiscal year, the City's and County's payments to the Authority shall be increased or decreased, as appropriate, to take into account increases or decreases in actual expenses and/or reductions or increases in actual revenues of the Authority from those anticipated by the adopted budget as shown by such financial statement, and such adjustments shall be determined by using the City's and County's percentages as set forth in paragraph 5 above, as may be adjusted as provided in such paragraph, for such audited fiscal year as an adjustment to the next payments due from the City and County to the Authority; provided, however, that any such increase or decrease shall take into account any increase or decrease in payments for such year pursuant to the most recently adopted amended budget of the Authority for such year, if any. In the event the amount of service contribution fees and local government support payments exceed the percentage of revenues needed by the Authority, including reasonable reserves, pursuant to paragraph 5 above, the Authority shall either remit such excess to the City and County or carry such excess over to the next fiscal year giving the City and • County credit during such year for such excess 5