Common use of Records; Audit Clause in Contracts

Records; Audit. Records of the Contractor's direct personnel payroll, reimbursable expenses pertaining to this Agreement and records of accounts between the City and Contractor must be kept on the basis of generally accepted accounting principles and must be made available to the City and its auditors for up to three years following the City’s final acceptance of the goods or services under this Agreement. The City, its authorized representative, or any federal agency, reserves the right to audit Contractor's records to verify the accuracy and appropriateness of all cost and pricing data, including data used to negotiate this Agreement and any amendments. The City reserves the right to decrease the total amount of Agreement price or payments made under this Agreement or request reimbursement from the Contractor following final contract payment on this Agreement if, upon audit of the Contractor's records, the audit discloses the Contractor has provided false, misleading, or inaccurate cost and pricing data. The Contractor will include a similar provision in all of its contracts with subcontractors providing goods or services under the Agreement Documents to ensure that the City, its authorized representative, or the appropriate federal agency, has access to the subcontractors’ records to verify the accuracy of all cost and pricing data. The City reserves the right to decrease Contract price or payments made on this Agreement or request reimbursement from the Contractor following final payment on this Agreement if the above provision is not included in subcontractor agreements, and one or more subcontractors refuse to allow the City to audit their records to verify the accuracy and appropriateness of all cost and pricing data. If, following an audit of this Agreement, the audit discloses the Contractor has provided false, misleading, or inaccurate cost and pricing data, and the cost discrepancies exceed 1% of the total Agreement xxxxxxxx, the Contractor will be liable for reimbursement of the reasonable, actual cost of the audit.

Records; Audit. Records of the Contractor's Consultant’s direct personnel payroll, reimbursable expenses pertaining to this Agreement and records of accounts between the City and Contractor Consultant must be kept on the basis of generally accepted accounting principles and must be made available to the City and its auditors for up to three years following the City’s final acceptance of the goods or services under this Agreement. The City, its authorized representative, or any federal agency, reserves the right to audit Contractor's Consultant’s records to verify the accuracy and appropriateness of all cost and pricing data, including data used to negotiate this Agreement and any amendments. The City reserves the right to decrease the total amount of Agreement price or payments made under this Agreement or request reimbursement from the Contractor Consultant following final contract payment on this Agreement if, upon audit of the Contractor's Consultant’s records, the audit discloses the Contractor Consultant has provided false, misleading, or inaccurate cost and pricing data. The Contractor Consultant will include a similar provision in all of its contracts with subcontractors providing goods or subconsultants who provide services under the Agreement Documents to ensure that the City, its authorized representative, or the appropriate federal agency, has access to the subcontractorssubconsultants’ records to verify the accuracy of all cost and pricing data. The City reserves the right to decrease Contract price or payments made on this Agreement or request reimbursement from the Contractor Consultant following final payment on this Agreement if the above provision is not included in subcontractor subconsultant agreements, and one or more subcontractors subconsultants refuse to allow the City to audit their records to verify the accuracy and appropriateness of all cost and pricing data. If, following an audit of this Agreement, the audit discloses the Contractor Consultant has provided false, misleading, or inaccurate cost and pricing data, and the cost discrepancies exceed 1% of the total Agreement xxxxxxxx, the Contractor Consultant will be liable for reimbursement of the reasonable, actual cost of the audit.

Records; Audit. Records of the Contractor's Consultant’s direct personnel payroll, reimbursable expenses pertaining to this Agreement and records of accounts between the City and Contractor Consultant must be kept on the basis of generally accepted accounting principles and must be made available to the City and its auditors for up to three years following the City’s final acceptance of the goods or services under this AgreementAgreement (this requirement is increased to five years if construction of this project is federally funded). The City, its authorized representative, or any federal agency, reserves the right to audit Contractor's Consultant’s records to verify the accuracy and appropriateness of all cost and pricing data, including data used to negotiate this Agreement and any amendments. The City reserves the right to decrease the total amount of Agreement price or payments made under this Agreement or request reimbursement from the Contractor Consultant following final contract payment on this Agreement if, upon audit of the Contractor's Consultant’s records, the audit discloses the Contractor Consultant has provided false, misleading, or inaccurate cost and pricing data. The Contractor Consultant will include a similar provision in all of its contracts with subcontractors providing goods or subconsultants who provide services under the Agreement Documents to ensure that the City, its authorized representative, or the appropriate federal agency, has access to the subcontractorssubconsultants’ records to verify the accuracy of all cost and pricing data. The City reserves the right to decrease Contract price or payments made on this Agreement or request reimbursement from the Contractor Consultant following final payment on this Agreement if the above provision is not included in subcontractor subconsultant agreements, and one or more subcontractors subconsultants refuse to allow the City to audit their records to verify the accuracy and appropriateness of all cost and pricing data. If, following an audit of this Agreement, the audit discloses the Contractor Consultant has provided false, misleading, or inaccurate cost and pricing data, and the cost discrepancies exceed 1% of the total Agreement xxxxxxxx, the Contractor Consultant will be liable for reimbursement of the reasonable, actual cost of the audit.