Common use of Audits Reviews Clause in Contracts

Audits Reviews. On an annual basis, no more frequently than every 12 months, upon 30 days prior written notice, City shall have the right to conduct an independent audit or review of Grantee's records reasonably related to the administration or enforcement of this agreement, in accordance with generally accepted accounting principles. For purposes of this section, records reasonably related to the administration and enforcement of this agreement include those financial records pertaining to the number and location of cable customers within City=s Urban Growth Boundary. The City may hire an independent certified public accountant to audit or review the Grantee's financial records, in which case the Grantee shall provide all necessary records to the certified public accountant. All such records shall be made available in the local offices of the Grantee. If the audit or review shows that Franchise fees have been underpaid by 3% or more, Grantee shall reimburse to City the total cost of the audit or review 3.6.1. Source documents, which demonstrate the original or beginning amount, and the final amount shown on any report related to or included in the determination of franchise fees, revenues or expenses. 3.6.2. Source documents that completely explain any and all calculations related to any allocation of any amounts involving franchise fees, revenues, or expenses. 3.6.3. Any and all accounting schedules, statements, and any other form of representation, which relate to, account for, or support or correlate to any accounts involving franchise fees, revenues or expenses.

Audits Reviews. On an annual basis, no more frequently than every 12 months, upon 30 days prior written notice, City shall have the right to conduct an independent audit or review of Grantee's ’s records reasonably related to the administration or enforcement of this agreement, in accordance with generally accepted accounting principles. For purposes of this section, records reasonably related to the administration and enforcement of this agreement include those financial records pertaining to the number and location of cable customers within City=s ’s Urban Growth Boundary. The City may hire an independent certified public accountant to audit or review the Grantee's ’s financial records, in which case the Grantee shall provide all necessary records to the certified public accountant. All such records shall be made available in the local offices of the Grantee. If the audit or review shows that Franchise fees have been underpaid by 32% or more, Grantee shall reimburse to City the total cost of the audit or reviewreview and the underpayment plus interest, at the rate specified in section 3.7 within 30 days of the City’s written demand for same. Records for audit/review purposes shall include without limitation: 3.6.1. Source documents, which demonstrate the original or beginning amount, and the final amount shown on any report related to or included in the determination of franchise fees, revenues or expenses. 3.6.2. Source documents that completely explain any and all calculations related to any allocation of any amounts involving franchise fees, revenues, or expenses. 3.6.3. Any and all accounting schedules, statements, and any other form of representation, which relate to, account for, or support or correlate to any accounts involving franchise fees, revenues or expenses.