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(b) The County shall have the right at any time, and from time to time, to cause nationally recognized independent auditors to audit all of the books of SMG relating to Operating Revenues and Operating Expenses, including, without limitation, cash register tapes, credit card invoices, duplicate deposit tapes, and invoices. No costs incurred by the County in conducting such audit shall be considered an Operating Expense. If any such audit demonstrates that the Operating Revenues or Operating Expenditures reflected in any financial statements pre- pared by SMG and audited as specified in the foregoing subparagraph (a) are understated (in the case of Operating Expenses) or overstated (in the case of Operating Revenues), in either case by more than five percent (5 %), or that there were material inaccuracies or omissions of any other nature which were intentional or grossly negligent by SMG, SMG shall pay to the County the reasonable cost of such audit and shall promptly refund to the County any portion of the incen- tive fee paid for such Fiscal Year which is attributable to the overstatement or understatement, as the case may be. The County's right to have such an audit made with respect to any Fiscal Year and SMG's obligation to retain the above records shall expire three (3) years after SMG's state- ment for such Fiscal Year has been delivered to the County. 6.2 Annual Plan (a) SMG shall provide to the County on or before one hundred twenty (120) days prior to the end of each Fiscal Year, an annual management plan, which shall include the annual operating budget described in Section 5.3 for the next Fiscal Year. The annual plan shall include information regarding SMG's anticipated operations for such Fiscal Year, including planned operating maintenance activities by SMG, requested Capital Improvements and Capital Equipment purchases and an anticipated budget therefor, anticipated events at the Facility, antic- ipated advertising and promotional activities, any planned uses of the At -Risk Event Fund, and planned equipment and furnishings purchases. The annual plan shall be subject to review, revi- sion and approval by the County. Following review and revision by the County, SMG shall have thirty (30) days to incorporate the County's revisions into its plan and resubmit the revised plan for approval. Upon approval by the County, such annual plan shall constitute the operating pro- gram for SMG for the following Fiscal Year. 6.3 Monthly Reports Prior to the Cabarrus County's Commissioners' regularly monthly meeting of each month during the term of this Agreement, SMG shall provide to the County a written monthly report in a form approved by the County and similar to that used in other SMG - managed facilities setting out the Facility's anticipated activities for the upcoming month and reporting on the prior month's activities and finances; provided, however that it shall not be a breach of this agreement if such regular meeting is scheduled on a date too early in a month for SMG to deliver such report. SMG shall include in such report a balance sheet, income state- ment, and other financial reports (such as a departmental expense report and event accounting). 7. Employees. 7.1 SMG Employees pdfconvert. 9450.1. cabarms_agreement_2015. doc 19 F -1 Attachment number 1 Page 99