Res 2010-146 - Laserfiche WebLink

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audited financial statements and related reports for the Operator, prepared by an independent, external audit firm by February 1 of the following year. 3.1.23 Accounting and Financial Controls. Operator shall comply with any accounting and financial controls approved by the City for the management of all Airport funds. 3.1.24 Invoices. Operator shall bill, on behalf of the City, for all monies due to the City in connection with the Airport, including but not limited to monies due pursuant to leases, through -the -fence agreements, contracts, fueling, and any arrangements with other persons conducting operations at the Airport. 3.1.25 Delinquent Accounts. In the event any money due and owing to the City is not paid within sixty (60) days following the date on which the same is due, Operator shall notify the City of such delinquency. Operator shall thereafter, at the City's request, use its reasonable efforts to collect the delinquency in accordance with law; provided however, that Operator shall use the collection firm under contract with the City. Operator shall not be authorized to institute a delinquency lawsuit but shall submit its recommendation to institute such proceedings to the City Manager. 3.1.26 Maintenance of Accounts. Operator shall keep and maintain all records and accounts in accordance with generally accepted accounting principles, consistently applied. The Operator shall prepare all periodic and annual reports, make all information submittals and provide notices to all governmental bodies required by all governmental approvals and under applicable law. The Operator shall maintain at the facilities and make available to the City upon request for review, accurate, complete and current financial books, records and accounts. 3.1.27 Monitoring of Performance: The Operator agrees to allow the City, either directly or through a subcontractor, to inspect, at City's request, and with fourteen (14) days advance notice to the Operator, all pertinent records, files, information or other written material maintained by the Operator or its subcontractors and related to the subject matter of this contract. Any failure by the Operator to provide such records as requested by the City in a timely manner may be deemed by the City to be in breach of this contract. Notwithstanding the foregoing requirements of this Section, the City acknowledges that the Operator may redact or withhold such information that is deemed confidential by law unless any such confidentiality laws permit disclosure to the City and such records are pertinent to the City's evaluation of the performance of the Operator under this contract. 17