Res 2010-146 - Laserfiche WebLink

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3.1.19 Promptly collect all funds due in connection with the management and operation of the Airport (including but not limited to, lease payments, through the fence agreement payments, tie down fees, license fees, concession fees, access fees, landing fees, customs fees, signage fees, gross receipts taxes, and fuel flowage fees) and deposit, on a weekly basis, all such funds with the Finance Department during regular business hours. Each deposit should provide an accurate and true accounting of all revenue codes related to the collection of funds. Operator shall establish an operating account ( "Operating Account "), which shall be funded by the City on the 1" of each month with 1 /12`h of the Approved Operating Budget. The purpose of this account is to pay Operating Costs and Operator's Management Fee in accordance with the Approved Operating Budget for FY 2010 -11 which is marked as Exhibit "C" and attached to this Contract for all purposes as though fully set out herein and each year thereafter during the term of this Agreement. Operator may apply to the City Manager or designee for a payment in excess of the monthly Approved Operating Budget Payment when the Operator receives an invoice for an annual or bulk payment that exceeds the monthly amount (including the payment for the month in which the Operator applies for the advance payment) accumulated in the Operating Account to pay for the item. Operator shall submit the invoice for consideration together with such other documentation or information as City may reasonably require, to determine the necessity and appropriateness of the advance payment. 3.1.20 In co- ordination with the City: a) Maintain proper accounting of Airport assets; b) Perform general accounting services; C) Assist the City in establishing rates (including lease rates), fees and charges for Airport airfield and facilities use; d) Ensure that Airport financial records and supporting documentation are properly maintained and available for review by the City and its auditors at its request; 3.1.21 Prepare and submit written quarterly financial reports, financial plans and supporting statistical data to the City Manager as well as any other reports on an "as requested" basis. Within thirty (30) days after the end of each month during the term of this Contract, the Operator shall submit a report in electronic format to the Finance Department with a copy to the City Manager describing the activities and expenditures resulting from the Airport Funds allocated during the previous one- month period. 3.1.22 Prepare and submit an annual financial reconciliation of the contract revenues and expenses at the end of each Fiscal Year. Also, submit comprehensive annual 16