Recordkeeping and Audit Controls Clause Samples

Recordkeeping and Audit Controls. The Contractor will retain and provide access to or copies of all service records or any other operational records deemed necessary or requested by the City. a. All financial records directly related to the work performed in this contract shall be made available to City upon request. These records shall be subject to audit or inspection by duly authorized representatives of the City, County, State or Federal agencies and the Los Angeles County Metropolitan Transit Authority upon request. b. The Contractor shall maintain financial records and reports relating to funds received during the contract. The Contractor shall maintain book, records, documents, and other accounting procedures and practices which reflect all costs of any nature expended in the performance during the contract. c. The Contractor shall maintain all books, records, and other relative documents related to the contract for three (3) years after completion or termination of the Agreement. Upon termination of the contract and any extensions thereof, the Contractor shall deliver to City, either electronically or physically, all operating records for the prior three (3) years. All Revenue vehicle maintenance records shall be provided to the City coincident with the transfer of City-owned vehicles back to the City.