County Audits. (a) Each year, Borrower shall provide the County with a copy of Borrower's annual audit, which is to include information on all of Borrower's activities and not just those pertaining to the Development.
(b) In addition, the County may, at any time, audit all of Borrower's books, records, and accounts pertaining to the Development including but not limited to the Residual Receipts of the Development. Any such audit is to be conducted during normal business hours at the principal place of business of Borrower and wherever records are kept. Immediately after the completion of an audit, the County shall deliver a copy of the results of the audit to Borrower.
(c) If it is determined as a result of an audit that there has been a deficiency in a loan repayment to the County then such deficiency will become immediately due and payable, with interest at the Default Rate from the date the deficient amount should have been paid. In addition, if the audit determines that Residual Receipts have been understated for any year by the greater of: (i) Two Thousand Five Hundred Dollars ($2,500); and (ii) an amount that exceeds five percent (5%) of the Residual Receipts, then, in addition to paying the deficiency with interest, Borrower shall pay all of the County's costs and expenses connected with the audit and review of Borrower's accounts and records.
County Audits. The receipt by the County Staff of Annual Audited Financial Statements pursuant to subsection 2.05(b)(2)(ii)(B) above or acceptance by the County Staff of any loan repayment for any period shall not bind the County Board as to the correctness of such Annual Audited Financial Statements or such payment. Within five (5) years after the receipt of any such Annual Audited Financial Statements, the County Staff or any designated agent or employee of the County Staff at any time and upon forty-eight (48) hours advance notice shall be entitled to audit the Residual Receipts calculation and all books, records, and accounts pertaining thereto. Such audit shall be conducted during normal business hours at the principal place of business of the Borrower and other places where the applicable records are kept. If it is determined as a result of such audit that there has been a deficiency in an Annual Payment to the County Board, then such deficiency shall become immediately due and payable with interest at the Default Rate, determined as of and accruing from the date that said payment should have been made. In addition, if the Annual Audited Financial Statements for any calendar year shall be found to have understated Residual Receipts by more than ten percent (10%) and by at least Five Thousand Dollars ($5,000), then Borrower shall pay, in addition to the interest charges referenced hereinabove, all of the County Staff’s reasonable out of pocket costs and expenses connected with any audit or review of Borrower’s accounts and records.
County Audits. Each year, Borrower shall provide the County with a copy of Borrower's annual audit, which is to include information on all of Borrower's activities and not just those pertaining to the Development. In addition, the County may, at any time, audit all of Borrower's books, records, and accounts pertaining to the Development. Any such audit is to be conducted during normal business hours at the principal place of business of Borrower and wherever records are kept. Immediately after the completion of an audit, the County shall deliver a copy of the results of the audit to Borrower.
County Audits. The receipt by the County Manager or his written designees of Annual Audited Financial Statements pursuant to subsection 2.05(b)(2)(ii)(B) above or acceptance by the County Manager or his written designees of any loan repayment for any period shall not bind the County Board as to the correctness of such Annual Audited Financial Statements or such payment. Within five (5) years after the receipt of any such Annual Audited Financial Statements, the County Board or any designated agent or employee of the County Board at any time and upon forty-eight (48) hours advance notice shall be entitled to audit the Residual Receipts calculation and all books, records, and accounts pertaining thereto. Such audit shall be conducted during normal business hours at the principal place of business of the Borrower and other places where the applicable records are kept. If it is determined as a result of such audit that there has been a deficiency in an Annual AHIF Loan Payment to the County Board, then such deficiency shall become immediately due and payable with interest at the Default Rate, determined as of and accruing from the date that said payment should have been made. In addition, if the Annual Audited Financial Statements for any calendar year shall be found to have understated Residual Receipts by more than ten percent (10%) and by at least Five Thousand and 00/100 Dollars ($5,000.00), then Borrower shall pay, in addition to the interest charges referenced hereinabove, all of the County Staff’s reasonable out of pocket costs and expenses connected with any audit or review of Borrower’s accounts and records.
County Audits. The books, records, documents, and accounting procedures and practices of the CONTRACTOR relevant to this Agreement shall be subject to examination by the County and the State of Minnesota Legislative Auditor.
County Audits. (a) Each year, Borrower shall provide the County with a copy of Borrower's annual audit, which is to include information on all of Borrower's activities and not just those pertaining to the Residence. Borrower shall also follow the applicable audit requirements of 2 C.F.R.
County Audits. (a) Developer shall provide any information reasonably requested by the County in connection with the Development.
(b) Each year, Developer shall provide the County with a copy of Developer's annual audit, which is to include information on all of Developer's activities and not just those pertaining to the Development.
(c) In addition, the County may, at any time, audit all of Developer's books, records, and accounts pertaining to the Development including but not limited to the Residual Receipts of the Development. Any such audit is to be conducted during normal business hours at the principal place of business of Developer and wherever records are kept. Immediately after the completion of an audit, the County shall deliver a copy of the results of the audit to Developer.
(d) If it is determined as a result of an audit that there has been a deficiency in a loan repayment to the County then such deficiency will become immediately due and payable, with interest at the Default Rate from the date the deficient amount should have been paid. In addition, if the audit determines that Residual Receipts have been understated for any year by the greater of: (i) Two Thousand Five Hundred Dollars ($2,500); and (ii) an amount that exceeds five percent (5%) of the Residual Receipts, then, in addition to paying the deficiency with interest, Developer shall pay all of the County's costs and expenses connected with the audit and review of Developer's accounts and records.
County Audits. (a) Developer shall provide any information reasonably requested by the County in connection with the Housing Improvements.
(b) Each year, Developer shall provide the County with a copy of Developer's annual audit, which is to include information on all of Developer's activities and not just those pertaining to the Housing Improvements.
(c) In addition, the County may, at any time, audit all of Developer's books, records, and accounts pertaining to the Development including but not limited to the Residual Receipts of the Housing Improvements. Any such audit is to be conducted during normal business hours at the principal place of business of Developer and wherever records are kept. Immediately after the completion of an audit, the County shall deliver a copy of the results of the audit to Developer.
(d) If it is determined as a result of an audit that there has been a deficiency in a loan repayment to the County then such deficiency will become immediately due and payable, with interest at the Default Rate from the date the deficient amount should have been paid. In addition, if the audit determines that Residual Receipts have been understated for any year by the greater of: (i) Two Thousand Five Hundred Dollars ($2,500); and (ii) an amount that exceeds five percent (5%) of the Residual Receipts, then, in addition to paying the deficiency with interest, Developer shall pay all of the County's costs and expenses connected with the audit and review of Developer's accounts and records.
County Audits. (a) Each year, Borrower shall provide the County with a copy of Borrower's annual audit, which is to include information on all of Borrower's activities and not just those pertaining to the Development.
(b) In addition, the County may, at any time, audit all of Borrower's books, records, and accounts pertaining to the Development. Any such audit is to be conducted during normal business hours at the principal place of business of Borrower and wherever records are kept. Immediately after the completion of an audit, the County shall deliver a copy of the results of the audit to Borrower.
(c) If it is determined as a result of an audit that there has been a deficiency in a loan repayment to the County then such deficiency will become immediately due and payable, with interest at the Default Rate from the date the deficient amount should have been paid.
County Audits. (a) During the Project RCD shall provide the County with a copy of RCD's, annual audit, which is to include information on the use of the Grant. During the operation of the Center, St. Paul's shall provide the County with a copy of the Service Provider's annual audit, which is to include information on the Service Provider's activities pertaining to the Center. RCD shall, and St. Paul's shall cause the Service Provider to, follow the applicable audit requirements of 2 C.F.R. Part 200.
(b) In addition, the County may, at any time, audit all of RCD's, St. Paul's' and the Service Provider's books, records, and accounts pertaining to the Project and the operation of the Center as applicable. Any such audit is to be conducted during normal business hours at the principal place of business of Grantee and wherever records are kept. Immediately after the completion of an audit, the County shall deliver a copy of the results of the audit to Grantee.
