Manager's Reporting Requirements a. Manager will provide LIPA, on a monthly and year to date basis, a report of actual total T&D costs versus budget and prior year. Such report shall be received no later than the 20th day of the following month and shall contain explanations of significant variations to budget or prior year results.
b. Manager will, on a semi-annual basis within 60 days after the end of each half of the operating year, provide LIPA with a report of actual Direct Costs and Third Party Costs together with:
i. explanation of significant variations from budget and prior year amounts
ii. identification of those costs which are classified as capital versus operating in order to allow LIPA to determine which costs qualify for tax-exempt bonding and which are recoverable through rates.
iii. identification of any material Direct Costs projects or Third Party Costs projects which were included in the Direct Cost Budget or the Third Party Costs budget from the previous year which were deferred to the current or proposed to be deferred to a subsequent year, or such costs in the current year which Manager proposes deferring beyond the current operating year.
c. Manager will promptly notify LIPA when an event occurs, or is anticipated to occur, that Manager believes qualifies for treatment as an Other Cost. If practicable, Manager will provide LIPA with an explanation and estimate of the incremental costs caused by the event at the time of notification. Manager will submit a billing, together with appropriate supporting documentation, for reimbursement of the related incremental costs of such event as soon as practicable. LIPA will have the opportunity to review such billing and, if necessary, will be granted access to Managers books and records prior to reimbursing Manager. Such review will be performed in a timely manner.
d. Manager will submit, concurrent with its annual report, its request for payment of incentives earned in the period. Such request shall include appropriate supporting documentation for review by LIPA. LIPA will have the opportunity to review such billing and, if necessary, will be granted access to Manager's books and records prior to reimbursing Manager. Such review will be performed in a timely manner.
Manager's Reporting Requirements. (A) Monthly Reports The Manager shall provide the Authority and the Consulting Engineer with monthly reports no later than 15 Business Days after the end of each month, including the following data: (1) on a monthly and year-to-date basis, the actual T&D System costs versus the Annual T&D Budget and the prior year's costs at such time, (2) a description and explanation of significant variations (at least $1,000,000 and 3%) from the Annual T&D Budget (or any line item therein) or the prior year's results including a description of any related changes in the tasks performed or to be performed, (3) a description of partial or total shutdowns for maintenance and repairs during the prior month and anticipated during the current month, (4) any known or anticipated adverse conditions which may be expected to arise during the next 30 day period that may affect the ability of the Manager to transmit and distribute Power and Energy in accordance with the Performance Guarantees and the annual operating plan established for the T&D System, (5) the results of any regulatory or insurance inspections or tests conducted during the prior month, (6) all Major Capital Improvements Costs and Other Costs paid by the Manager during such Billing Period, including a description and explanation of significant variations (at least $1,000,000 and 2%) from budgeted costs for such period, (7) identification of those costs which are classified as capital versus operating in sufficient detail in order to allow the Authority to determine which costs qualify for bonding under the Bond Resolution and which are to be recovered through T&D System rates, (8) the results of any environmental or other tests or monitoring procedure& conducted by or at the direction of any federal, State or local environmental or other regulatory agency during the prior monthly period, and copies of any reports or other submittals made to or received from any such agency, and (9) any other information or statement which is requested by the Authority and which may be reasonably produced from records a maintained by the Manager in the normal course of business. The Manager shall also provide a quarterly forecast of projected expenditures by line item through year-end. These reports shall present the data in form and detail reasonably acceptable to the Authority and the Consulting Engineer and shall be certified as to accuracy and completeness by the Manager.
Manager's Reporting Requirements
