Record Handling and Auditing Sample Clauses

Record Handling and Auditing. 1. Operator will maintain, in accordance with generally accepted accounting principles for each year during which the Agreement is in effect, all records, documents and books of account recording all transactions of the business conducted by Operator at the Airport, which records, documents and books of account shall be held accessible to the City and its representatives at any time upon reasonable demand by the Airport Director, or designee. As an alternative, Operator may maintain such records electronically and they shall be made available to the Airport Director, or designee, immediately upon request. All records must be maintained by Operator for a minimum of six (6) years following the termination of the contract as called for herein.
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Related to Record Handling and Auditing

  • ACCOUNTING AND AUDIT The Agency shall utilize and maintain such records and practices regarding receipts and disbursements of the Funds as to be in accordance with generally accepted accounting principles. All such records shall be open to inspection and audit by the City or by the City's designee during normal business hours during the term hereof and for a period of three (3) years after the termination of this Agreement. Any cost incurred by the Agency as a result of a City audit shall be the sole responsibility of and shall be borne by the Agency. In addition, should the Agency provide any or all of the Funds to sub-recipients, then and in that event the Agency shall include in written agreements with such sub-recipients a requirement that records of the sub-recipient be open to inspection and audit by the City or the City's designee to the same extent as those of the Agency.

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