AG 2008 05 19 - Laserfiche WebLink

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(b) The County shall have the right at a~ time, and from time to time, to cause nationally recognized independe~ 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 demonshates that the Operating Revenues or Operating Expenditures reflected in any financial statements pre- pazed by SMG and audited as specified in the foregoing subpazagmph (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 maybe. The County's right to have such an audit made with respect to a~ Fiscal Year and SMG's obligation to retain the above records shall expire three (3) years after SMG's state- mentfor 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 descnbed in Section 5.3 for the next Fiscal Year. The armual plan shall include information regarding SMG's anticipated operations for such Fiscal Yeaz, including planned operating maintenance activities by SMG, requested Capital Improvements and Capital Equipment purchases and an anticipated budget therefor, anticipated events at the Facility, an- ticipated advertising and promotional activities, any planned uses of the At Risk Event Fund, and planned equipmem and fiunishings 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 Remorts. Prior to the Cabarus County's Commissioners' regulazly 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, provided that no date on or after the third Monday of any month maybe considered "Goo early". 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 Bmplovees. n~ ~abarcue agaeme°tvfinal md.dacmviscd cabemie esem~e°t ra~ml iea.aa 18 01995•?AC ~3