Common use of Cost Justification Financial Statements Clause in Contracts

Cost Justification Financial Statements. Section 305 of the State Education Law requires the Contractor to substantiate any cost increases which he/she claims to justify annual payment increases during the term of this Extension and Sixth Amendment Agreement. In consultation with the BOE Office of Auditor General, the Director of the Office of Pupil Transportation shall determine whether to approve all or any portion(s) of the claims in each of the Contractor's annual Cost Justification Financial Statements as described immediately below: (a) To substantiate any payment increases received under this Article V - A during the Extension Year of July 1, 1996 through June 30, 1997, the Contractor must submit by September 30, 1996 (i) a cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 1995-96 and for 1993-1994 and (ii) for contracts under Serial Nos. 9888, an additional cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under Contract Serial No. 9888 for the Extension Year 1992-93 and Extension Year 1993-1994. (b) To substantiate any payment increases received under this Article V - A during the Extension Year of July 1, 1997 through June 30, 1998, the Contractor must submit by September 30, 1997 (i) a cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 1996-1997 and the 1995-1996, (ii) an additional cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for Extension Years 1995-96 EXTENSION AND SIXTH AMENDMENT OF CONTRACT FOR REGULAR EDUCATION PUPIL TRANSPORTATION SERVICES and 1993-1994 (to account for a cost carry-forward, if any), and (iii) for contracts under Serial No. 9888, an additional cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under Contract Serial No. 9888 for Extension Years 1992-93 and 1993-1994 (to account for a cost carry-forward, if any). (c) To substantiate any payment increases received under this Article V - A during the Extension Year of July 1, 1998 through June 30, 1999, the Contractor must submit by September 30, 1998, (i) a cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract, for the Extension Years 1997-1998 and 1996-1997, (ii) an additional cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for Extension Years 1996-97, 1995-1996 and 1993-1994, (to account for a cost carry-forward, if any), and (iii) for contracts under Serial No. 9888, an additional cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under Contract Serial No. 9888 for Extension Years 1992-93 and 1993-1994 (to account for a cost carry-forward, if any). (d) To substantiate any payment increases received under this Article V - A during the Extension Year of July 1, 1999 through June 30, 2000, the Contractor must submit by September 30, 1999, (i) a cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 1998-1999 and 1997-1998, and (ii) for contracts under Serial No. 9888, an additional cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under Contract Serial No. 9888 for Extension Years 1992-93 and 1993-94 (to account for a cost carry-forward, if any). EXTENSION AND SIXTH AMENDMENT OF CONTRACT FOR REGULAR EDUCATION PUPIL TRANSPORTATION SERVICES (e) The Contractor shall, until six (6) years after completion of its services hereunder, or six (6) years after date of termination of this Extension, whichever is later, maintain and retain complete and correct books and records relating to all aspects of the Contractor's obligations hereunder. Records must be maintained separately, so as to identify clearly the expenses applicable to this Extension Contract and be distinguishable from all other costs not incurred under this Extension Contract. (f) As a minimum, the Contractor will supply in each annual cost justification financial statement all data required by the New York State Education Department related to this Contract, and the submittal shall include, but is not necessarily limited to, New York State Education Department approved cost justification forms. The Contractor must supply promptly any and all additional cost data as required by the BOE or the State Education Department. (g) To be eligible to "carry forward" unabsorbed cost increases arising from the daily rate freeze, i.e., zero percent (0%) increase, during the Fourth Extension Year of Contract Serial No. 9888, the Contractor must meet eligibility conditions and must adhere to rules, procedures and definitions expressed in Appendix A. The said eligibility conditions, rules, procedures, and definitions for the allowance of a "cost carry-forward" of such unabsorbed cost increases under Contract Serial No. 9888 are hereby incorporated by this reference into this Extension and Amendment Agreement as if set forth herein in their entirety, and a copy of the said eligibility conditions, rules, procedures, and definitions is hereto annexed as "Appendix A." (h) To be eligible to "carry forward" unabsorbed cost increases arising from cost growth, if any, greater than the two-and-two-tenths percent (2.2%) fixed cap during the 1996-97 Extension Year and the two and six-tenths percent (2.6%) fixed cap during the 1997-98 Extension Year of Contract Serial Nos. 0065, 0075, 8107 and 9888, the Contractor must meet eligibility conditions and must adhere to rules, procedures and definitions expressed in Appendix B. The said eligibility conditions, rules, procedures, and definitions for the allowance of a "cost carry-forward" of such unabsorbed cost increases under Contract Serial Nos. 0065, 0075, 8107 and 9888 are hereby incorporated by this reference into this Extension and Amendment Agreement as if set forth herein in their entirety, and a copy of the said eligibility conditions, EXTENSION AND SIXTH AMENDMENT OF CONTRACT FOR REGULAR EDUCATION PUPIL TRANSPORTATION SERVICES rules, procedures, and definitions is hereto annexed as "Appendix B." (i) In each annual Cost Justification Financial Statement, the Contractor must supply all data required by the New York State Education Department related to this Contract, and each submittal shall include, but is not necessarily limited to, New York State Education Department approved cost justification forms.

Cost Justification Financial Statements. Section 305 of the State Education Law §305(14) requires the Contractor to substantiate any cost increases which that he/she claims to justify annual payment increases during the term of this Extension and Sixth Ninth Amendment Agreement. In consultation with the BOE Office of Auditor General, the The Director of the Office of Pupil Transportation shall determine whether to approve all or any portion(s) portion of the claims in each of the Contractor's ’s annual Cost Justification Financial Statements as described immediately belowin accordance with the following: (a) To substantiate any payment increases received under this Article V - A ARTICLES V-A, 28(C) or 29(D) during the Extension Year of July 1, 1996 through 2000 to June 30, 19972001, the Contractor must submit by September 30, 1996 2000, (i) a cost justification financial statement by an independent Certified Public Accountant or Public Accountant which Cost Justification Financial Statement that details the total costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for Extension Years 1999-2000 and 1998-1999, and (ii) an additional Cost Justification Financial Statement that details total costs incurred by the Contractor for all its operations and, separately, for its operations under the Contract for Extension Years 1996-97, 1997-98 and 1998-99 to account for unabsorbed cost carry-forwards, if any. (b) To substantiate any payment increases received under ARTICLES V-A, 28(C) or 29(D) during the Extension Year of July 1, 2001 to June 30, 2002, the Contractor must submit by September 30, 2001, (i) a Cost Justification Financial Statement that details the total costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for Extension Years 2000-01 and 1999-2000, and (ii) an additional Cost Justification Financial Statement that details total costs incurred by the Contractor for all its operations and, separately, for its operations under the Contract for Extension Years 1997-98, 1998-99 and 1999-2000 to account for unabsorbed cost carry-forwards, if any. (c) To substantiate any payment increases received under ARTICLES V-A, 28(C) or 29(D) during the Extension Year of July 1, 2002 to June 30, 2003, the Contractor must submit by September 30, 2002, (i) a Cost Justification Financial Statement that details the total costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for Extension Years 2001-02 and 2000-01, and (ii) an additional Cost Justification Financial Statement that details total costs incurred by the Contractor for all its operations and, separately, for its operations under the Contract for Extension Years 1998-99, 1999-2000 and 2000-01 to account for unabsorbed cost carry-forwards, if any. (d) To substantiate any payment increases received under ARTICLES V-A, 28(C) or 29(D) during the Extension Year of July 1, 2003 to June 30, 2004, the Contractor must submit by September 30, 2003, a Cost Justification Financial Statement that details the total costs incurred by the Contractor for all its operations and, separately, for its operations under this Contract for the Extension Years 19952002-96 03 and for 19932001-1994 02, and (ii) for contracts under Serial Nos. 9888, an additional Cost Justification Financial Statement that details total costs incurred by the Contractor for all its operations and, separately, for its operations under the Contract for Extension Years 1999-2000, 2000-01 and 2001-02 to account for unabsorbed cost justification financial statement carry-forwards, if any. (e) To substantiate any payment increases received under ARTICLES V-A, 28(C) or 29(D) during the Extension Year of July 1, 2004 to June 30, 2005, the Contractor must submit by an independent Certified Public Accountant or Public Accountant which September 30, 2004, a Cost Justification Financial Statement that details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under Contract Serial No. 9888 for the Extension Year 1992-93 and Extension Year 1993-1994. (b) To substantiate any payment increases received under this Article V - A during the Extension Year of July 1, 1997 through June 30, 1998, the Contractor must submit by September 30, 1997 (i) a cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 19962003-1997 04 and the 19952002-199603, and (ii) an additional cost justification financial statement by an independent Certified Public Accountant or Public Accountant which Cost Justification Financial Statement that details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this the Contract for Extension Years 19952000-96 EXTENSION AND SIXTH AMENDMENT OF CONTRACT FOR REGULAR EDUCATION PUPIL TRANSPORTATION SERVICES 01, 2001-02 and 19932002-1994 (03 to account for a unabsorbed cost carry-forwardforwards, if any), and (iii) for contracts under Serial No. 9888, an additional cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under Contract Serial No. 9888 for Extension Years 1992-93 and 1993-1994 (to account for a cost carry-forward, if any). (cf) To substantiate any payment increases received under this Article V - A during the Extension Year of July 1, 1998 through June 30, 1999, the Contractor must submit by September 30, 1998, (i) a cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract, for the Extension Years 1997-1998 and 1996-1997, (ii) an additional cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for Extension Years 1996-97, 1995-1996 and 1993-1994, (to account for a cost carry-forward, if any), and (iii) for contracts under Serial No. 9888, an additional cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under Contract Serial No. 9888 for Extension Years 1992-93 and 1993-1994 (to account for a cost carry-forward, if any). (d) To substantiate any payment increases received under this Article V - A during the Extension Year of July 1, 1999 through June 30, 2000, the Contractor must submit by September 30, 1999, (i) a cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 1998-1999 and 1997-1998, and (ii) for contracts under Serial No. 9888, an additional cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under Contract Serial No. 9888 for Extension Years 1992-93 and 1993-94 (to account for a cost carry-forward, if any). EXTENSION AND SIXTH AMENDMENT OF CONTRACT FOR REGULAR EDUCATION PUPIL TRANSPORTATION SERVICES (e) The Contractor shall, until Until six (6) years after completion of its services hereunder, hereunder or six (6) years after the termination date of termination of this ExtensionExtension and Amendment Agreement, whichever is shall occur later, the Contractor shall maintain and retain complete and correct books and records relating related to all aspects of the Contractor's ’s obligations hereunder. Records must be maintained separately, separately so as to identify clearly the expenses applicable to this Contract, all previous extension and amendment agreements, and this Extension Contract and Amendment Agreement and must be distinguishable from all other costs not incurred under this Contract, all previous extension and amendment agreements, and this Extension and Amendment Agreement. Except as provided in this subparagraph, all other provisions of this Contract, as amended, that relate to the maintenance of records shall remain in full force and effect. (fg) As a minimum, the The Contractor will supply in each annual cost justification financial statement Cost Justification Financial Statement all data required by the New York State Education Department related to this Contract, and the submittal shall include, but is not necessarily limited without limitation to, New York State Education Department approved cost justification forms. The Contractor must supply promptly any and all additional cost data as required by the BOE or the State Education DepartmentSED. (g) To be eligible to "carry forward" unabsorbed cost increases arising from the daily rate freeze, i.e., zero percent (0%) increase, during the Fourth Extension Year of Contract Serial No. 9888, the Contractor must meet eligibility conditions and must adhere to rules, procedures and definitions expressed in Appendix A. The said eligibility conditions, rules, procedures, and definitions for the allowance of a "cost carry-forward" of such unabsorbed cost increases under Contract Serial No. 9888 are hereby incorporated by this reference into this Extension and Amendment Agreement as if set forth herein in their entirety, and a copy of the said eligibility conditions, rules, procedures, and definitions is hereto annexed as "Appendix A." (h) To be eligible to "carry forward" unabsorbed cost increases arising from cost growth, if any, greater than the two-and-two-tenths percent (2.2%) fixed cap during the 1996-97 Extension Year and the two and six-tenths percent (2.6%) fixed cap during the 1997-98 Extension Year of Contract Serial Nos. 0065, 0075, 8107 and 9888, the Contractor must meet eligibility conditions and must adhere to rules, procedures and definitions expressed in Appendix B. The said eligibility conditions, rules, procedures, and definitions for the allowance of a "cost carry-forward" of such unabsorbed cost increases under Contract Serial Nos. 0065, 0075, 8107 and 9888 are hereby incorporated by this reference into this Extension and Amendment Agreement as if set forth herein in their entirety, and a copy of the said eligibility conditions, EXTENSION AND SIXTH AMENDMENT OF CONTRACT FOR REGULAR EDUCATION PUPIL TRANSPORTATION SERVICES rules, procedures, and definitions is hereto annexed as "Appendix B." (i) In each annual Cost Justification Financial Statement, the Contractor must supply all data required by the New York State Education Department related to this Contract, and each submittal shall include, but is not necessarily limited to, New York State Education Department approved cost justification forms.

Cost Justification Financial Statements. Section 305 of the State Education Law requires the Contractor to substantiate any cost increases which he/she claims to justify annual payment increases during the term of this Extension and Sixth Eighth Amendment Agreement. In consultation with the BOE Office of Auditor General, the Director of the Office of Pupil Transportation (OPT) shall determine whether to approve all or any portion(s) of the claims in each of the Contractor's Contractors' annual Cost Justification Financial Statements as described immediately below: (a) To substantiate any payment increases received under this Article V - A during the Extension Year of July 1, 1996 through June 30, 1997, the Contractor must submit by September 30, ,. 1996 (i) a cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 1995-96 and for 1993-1994 and (ii) for contracts under Serial Nos. 9888, an additional cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under Contract Serial No. 9888 for the Extension Year 1992-93 and Extension Year 1993-1994. (b) To substantiate any payment increases received under this Article V - A during the Extension Year of July 1, 1997 through June 30, 1998, the Contractor must submit by September 30, 1997 (i) a cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 1996-1997 and the 1995-1996, and (ii) an additional cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the EXTENSION AND EIGHTH AMENDMENT OF CONTRACT FOR SPECIAL EDUCATION PUPIL TRANSPORTATION SERVICES Contractor for all of its operations and, separately, for its operations under this Contract for Extension Years 1995-96 EXTENSION AND SIXTH AMENDMENT OF CONTRACT FOR REGULAR EDUCATION PUPIL TRANSPORTATION SERVICES and 1993-1994 (to account for a cost carry-forward, if any), and (iii) for contracts under Serial No. 9888, an additional cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under Contract Serial No. 9888 for Extension Years 1992-93 and 1993-1994 (to account for a cost carry-forward, if any). (c) To substantiate any payment increases received under this Article V - A during the Extension Year of July 1, 1998 through June 30, 1999, the Contractor must submit by September 30, 1998, (i) a cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract, for the Extension Years 1997-1998 and 1996-1997, and (ii) an additional cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for Extension Years 1996-97, 1995-1996 and 1993-1994, (to account for a cost carry-forward, if any), and (iii) for contracts under Serial No. 9888, an additional cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under Contract Serial No. 9888 for Extension Years 1992-93 and 1993-1994 (to account for a cost carry-forward, if any). (d) To substantiate any payment increases received under this Article V - A during the Extension Year of July 1, 1999 through June 30, 2000, the Contractor must submit by September 30, 1999, (i) a cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under this Contract for the Extension Years 1998-1999 and 1997-1998, and (ii) for contracts under Serial No. 9888, an additional cost justification financial statement by an independent Certified Public Accountant or Public Accountant which details the total costs incurred by the Contractor for all of its operations and, separately, for its operations under Contract Serial No. 9888 for Extension Years 1992-93 and 1993-94 (to account for a cost carry-forward, if any). EXTENSION AND SIXTH AMENDMENT OF CONTRACT FOR REGULAR EDUCATION PUPIL TRANSPORTATION SERVICES. (e) The In each annual cost justification financial statement, the Contractor shall, until six (6) years after completion of its services hereunder, or six (6) years after date of termination of this Extension, whichever is later, maintain and retain complete and correct books and records relating to all aspects of the Contractor's obligations hereunder. Records must be maintained separately, so as to identify clearly the expenses applicable to this Extension Contract and be distinguishable will treat costs for escorts separately from all other costs not incurred under this Extension Contract. (f) costs. As a minimum, the Contractor will supply in each annual cost justification financial statement all data required by the New York State Education Department related to this Contract, and the submittal shall include, but is not necessarily limited to, New York State Education Department approved cost justification forms. The Contractor must supply promptly any and all additional cost data as required by the BOE or the State Education Department. (gf) To be eligible to "carry forward" unabsorbed cost increases arising from Until six (6) years after completion of its services hereunder, or six (6) years after the daily rate freezedate of termination of this Extension and Amendment Agreement, i.e., zero percent (0%) increase, during the Fourth Extension Year of Contract Serial No. 9888whichever EXTENSION AND EIGHTH AMENDMENT OF CONTRACT FOR SPECIAL EDUCATION PUPIL TRANSPORTATION SERVICES shall occur later, the Contractor shall retain and maintain complete and correct books and records related to all aspects of the Contractor's obligations hereunder. Records must meet eligibility conditions be maintained separately, so as to identify clearly the expenses applicable to the Contract, all previous extension and must adhere to rules, procedures amendment agreements and definitions expressed in Appendix A. The said eligibility conditions, rules, procedures, and definitions for the allowance of a "cost carry-forward" of such unabsorbed cost increases under Contract Serial No. 9888 are hereby incorporated by this reference into this Extension and Amendment Agreement and be distinguishable from all other costs not incurred under the Contract, all previous extension and amendment agreements and this Extension and Amendment Agreement. Except as if set forth herein provided in their entiretythis subparagraph, and a copy all other provisions of the said eligibility conditions, rules, procedures, Contract as amended that relate to the retainage and definitions is hereto annexed as "Appendix A."maintenance of records shall remain in full force and effect. (hg) To be eligible to "carry forward" unabsorbed cost increases arising from cost growth, if any, greater than the two-and-two-tenths percent (2.2%) fixed cap during the 1996-97 Extension Year and the two and sixtwo-and-sixth-tenths percent (2.6%) fixed cap during the 1997-98 Extension Year of Contract Serial Nos. 00650070, 00758108, 8107 G8805, G8891, and 9888G9325, the Contractor must meet eligibility conditions and must adhere to rules, procedures and definitions expressed in Appendix B. A. The said eligibility conditions, rules, procedures, procedures and definitions for the allowance of a "cost carry-forward" of such unabsorbed cost increases under Contract Serial Nos. 00650070, 00758108, 8107 G8805, G8891, and 9888 G9325 are hereby incorporated by this reference into this Extension and Amendment Agreement as hereby incorporated by this reference into this Extension and Amendment Agreement as if set forth herein in their entirety, and a copy of the said eligibility conditions, EXTENSION AND SIXTH AMENDMENT OF CONTRACT FOR REGULAR EDUCATION PUPIL TRANSPORTATION SERVICES rules, procedures, procedures and definitions is hereto annexed as "Appendix B.A" (i) In each annual Cost Justification Financial Statement, the Contractor must supply all data required by the New York State Education Department related to this Contract, and each submittal shall include, but is not necessarily limited to, New York State Education Department approved cost justification forms.