Common use of Maintenance and Audit of Records Clause in Contracts

Maintenance and Audit of Records. Franchisee shall maintain in its principal office full and complete financial and accounting records prepared on an accrual basis in accordance with generally accepted accounting principles. Such records shall be subject to audit and inspection by the City and its authorized officers, agents or employees, at any reasonable time at the Franchisee's principal office. The gross receipts derived from the Franchise Services under this Franchise, whether such services are performed by the Franchisee or by a subcontractor or subcontractors, shall be recorded as revenues in the accounts of the Franchisee. The Franchisee shall maintain and preserve all disposal records and service level records for a period of not less than three (3) years following the expiration or termination of the Franchise. The City Manager may require a Customer audit in order to verify that Customers are receiving the level of service for which they are being billed.