Common use of Financial Audit Clause in Contracts

Financial Audit. The Books and Records shall, upon five (5) business days’ prior written notice to the Sports Leagues, be open for inspection by City, its auditors or other authorized representatives. 8.1 The Sports Leagues shall be audited by a third party financial firm selected and paid for by the City of Coachella bi-annually. Prior to the audit the Sports League will provide written notification of all documents requested to complete the financial audit; the Sports League will be provided 30 days to produce requested documents. Should the documents requested not be produced within the 30 days provided facility access will be revoked until corrected. The final audit documents will be posted on the City website. 8.2 All members of Sport League boards must attend the annual 501c3 training provided by the City. 8.3 All Sport Leagues must obtain a Financial Audit score of C or higher and each Sport League’s Financial Audit score much improve each year.

Financial Audit. The Books and Records shall, upon five (5) business days’ prior written notice to the Sports Leagues, be open for inspection by City, its auditors or other authorized representatives. 8.1 9.1 The Sports Leagues shall be audited by a third party financial firm selected and paid for by the City of Coachella bi-annually. Prior to the audit the Sports League will provide written notification of all documents requested to complete the financial audit; the Sports League will be provided 30 days to produce requested documents. Should the documents requested not be produced within the 30 days provided facility access will be revoked until corrected. The final audit documents will be posted on the City website. 8.2 9.2 All members of Sport League boards must attend the annual 501c3 training provided by the City. 8.3 9.3 All Sport Leagues must obtain a Financial Audit score of C or higher and each Sport League’s Financial Audit score much improve each year.

Financial Audit. The Books and Records shall, upon five (5) business days’ prior written notice to the Sports Leagues, be open for inspection by City, its auditors or other authorized representatives. 8.1 The Sports Leagues shall be audited by a third party financial firm selected and paid for by the City of Coachella bi-annually. Prior to the audit the Sports League will provide written notification of all documents requested to complete the financial audit; the Sports League will be provided 30 days to produce requested documents. Should the documents requested not be produced within the 30 days provided facility access will be revoked until corrected. The final audit documents will be posted on the City website. 8.2 All members of Sport League boards must attend the annual 501c3 training provided by the City. 8.3 All Sport Leagues must obtain a Financial Audit score of C or higher and each Sport League’s Financial Audit score much must improve each year.