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Operator shall maintain a joint operating account("Operating Account") with this <br /> City. The purpose of this account is to deposit all funds collected by Operator prior <br /> to remittance to the City. Operator may apply to the City Manager or designee for <br /> a payment in excess of the monthly contract payment when the Operator receives <br /> an invoice for an annual or bulk payment that exceeds the monthly amount <br /> (including the payment for the month in which the Operator applies for the advance <br /> payment). Operator shall submit the invoice for consideration together with such <br /> other documentation or information as City may reasonably require, to determine <br /> the necessity and appropriateness of the advance payment. <br /> 3.1.19 In coordination with the City: <br /> a. Maintain proper accounting of Airport assets; <br /> b. Perform general accounting services; <br /> c. Assist the City in establishing rates (including lease rates), fees and charges for <br /> Airport airfield and facilities use in an effort to maintain financial self- <br /> sufficiency; and <br /> d. Ensure that Airport financial records and supporting documentation are <br /> properly maintained and available for review by the City and its auditors at its <br /> request. <br /> 3.1.20 Prepare and submit written financial reports, financial plans and supporting <br /> statistical data to the City Manager as well as any other reports on an"as requested" <br /> basis. <br /> 3.1.21 Prepare and submit as needed an annual financial reconciliation of the contract <br /> revenues at the end of each Fiscal Year. <br /> 3.1.22 Accounting and Financial Controls and Policies. Operator shall comply with any <br /> accounting, purchasing and financial controls or policies approved by the City for <br /> the management of all Airport funds. <br /> 3.1.23 Invoices. Operator shall bill, on behalf of the City, for all monies due to the City <br /> in connection with the Airport, including but not limited to monies due pursuant to <br /> leases, through-the-fence agreements, contracts, fueling, and any arrangements <br /> with other persons conducting operations at the Airport. <br /> 3.1.24 Delinquent Accounts. In the event any money due and owing to the City is not paid <br /> within sixty (60) days following the date on which the same is due, Operator shall <br /> notify the City of such delinquency. Operator shall thereafter, at the City's request, <br /> use its reasonable efforts to collect the delinquency in accordance with law; <br /> provided however, that Operator shall use the collection firm under contract with <br /> the City. Operator shall not be authorized to institute a delinquency lawsuit but <br /> shall submit its recommendation to institute such proceedings to the City Manager. <br /> Page 14 of 34 <br />