Common use of RETENTION OF RECORDS/AUDIT Clause in Contracts

RETENTION OF RECORDS/AUDIT. ‌ The Developer agrees: (a) To establish and maintain books, records and documents (including electronic storage media) sufficient to reflect all income and expenditures of all funds provided by the DIA under this Agreement; (b) To retain all records, financial records, supporting documents, statistical records, and any other documents (including electronic storage media) pertinent to this Agreement for a period of six (6) years after completion of the date of final payment by the DIA under this Agreement, including auditable records pertaining to jobs filled by third-party employers. If an audit has been initiated and audit findings have not been resolved at the end of such six (6) year period, the records shall be retained until resolution of the audit findings or any litigation which may be based on the terms of this Agreement, at no additional cost to the DIA. Any audit of the Developer pursuant to the terms of this Section 10.22 shall not be performed by an auditing firm that is paid on a contingency basis; (c) Upon demand, at no additional cost to the DIA, to facilitate the duplication and transfer of any records or documents pertinent to this Agreement during the required retention period; (d) To assure that these records pertinent to this Agreement including any of the Developer’s contracts and related records and documents, regardless of the form in which kept shall be subject at all reasonable times to inspection, review, copying, or audit by personnel duly authorized by the DIA, including but not limited to the City Council auditors; (e) To ensure that all related party transactions are disclosed to the DIA; (f) To include the aforementioned audit, inspections, investigations and record keeping requirements in all subcontracts and assignments of this Agreement; (g) To permit persons duly authorized by the DIA, including but not limited to the City Council auditors, to inspect and copy any records, papers, documents, facilities, goods and services of the Developer which are relevant to this Agreement, and to interview any employees and subcontractor employees of the Developer to assure the DIA of the satisfactory performance of the terms and conditions of this Agreement. Following such review, the DIA will deliver to the Developer a written report of its findings and request for development by the Developer of a corrective action plan where appropriate. The Developer hereby agrees to timely correct all deficiencies identified in the corrective action plan; (h) If the result of any audit by the City or DIA establishes that the amount of its Total Development Cost has been overstated by five percent (5%) or more, the entire expense of the audit shall be borne by the Developer; (i) Additional monies due as a result of any audit or annual reconciliation shall be paid within thirty (30) days of date of the DIA’s invoice; and (j) Should any audit reveal that the Developer has overstated the amount of its Total Development Cost, and the Developer does not make restitution within thirty (30) days from the date of receipt of written notice from the DIA, then, in addition to any other remedies available to the DIA, the DIA may terminate this Agreement, solely at its option, by written notice to the Developer.

RETENTION OF RECORDS/AUDIT. ‌ The Developer agrees: 25 A. For the purpose of determining the sufficiency of the CONSUTLANT’S 26 performance of the contract (a) To establish and compliance with Public Contract Code 10115, et seq. and 27 Title 21, California Code of Regulations, Chapter 21, Section 2500 et seq., when 1 applicable), the CONSULTANT, subcontractors, and the COUNTY, and each of them, shall 2 maintain all books, records and documents (including electronic storage media) sufficient to reflect all income and expenditures of all funds provided by the DIA under this Agreement; (b) To retain all records, financial records, supporting documents, statistical papers, accounting records, and any other documents (including electronic storage media) pertinent evidence pertaining 3 to this Agreement for a period of six (6) years after completion the performance of the date of final payment by the DIA under this Agreement, including auditable records pertaining to jobs filled by third-party employers. If an audit has been initiated and audit findings have not been resolved at the end of such six (6) year period, the records shall be retained until resolution of the audit findings or any litigation which may be based on the terms of this Agreement, at no additional cost to the DIA. Any audit of the Developer pursuant to the terms of this Section 10.22 shall not be performed by an auditing firm that is paid on a contingency basis; (c) Upon demand, at no additional cost to the DIA, to facilitate the duplication and transfer of any records or documents pertinent to this Agreement during the required retention period; (d) To assure that these records pertinent to this Agreement including any of the Developer’s contracts and related records and documents, regardless of the form in which kept shall be subject at all reasonable times to inspection, review, copying, or audit by personnel duly authorized by the DIAAGREEMENT, including but not limited to, the costs of 4 administering the AGREEMENT. 5 B. All parties shall make such materials available at their respective offices at all 6 reasonable times throughout the entirety of the contract term and for three years from the 7 date of final payment under the contract, pursuant to Government Code 8546.7. The state, 8 the State Auditor, the COUNTY, Federal Highway Administration, or any duly authorized 9 representative of the federal government shall have access to any books, records, and 10 documents of the CONSULTANT that are pertinent to the City Council auditors; (e) To contract for audit, examinations, 11 excerpts, and transactions, and copies thereof shall be furnished if requested. It shall be 12 the responsibility of the CONSULTANT to ensure that all related party transactions are disclosed to the DIA;subcontracts in excess of 13 $25,000 shall contain this provision. (f) To include the aforementioned audit, inspections, investigations 14 C. The CONSULTANT and record keeping requirements in all subcontracts and assignments of this Agreement; (g) To permit persons duly authorized by the DIAsubconsultants’ contracts, including cost proposals 15 and indirect cost rates (ICR), are subject to audits or reviews such as, but not limited to the City Council auditorsto, to inspect and copy any recordsa 16 Contract Audit, papersan Incurred Cost Audit, documentsan ICR Audit, facilities, goods and services of the Developer which are relevant to this Agreement, and to interview any employees and subcontractor employees of the Developer to assure the DIA of the satisfactory performance of the terms and conditions of this Agreementor a certified public accountant (CPA) 17 ICR Audit Workpaper Review. Following such If selected for audit or review, the DIA AGREEMENT, cost 18 proposal and ICR and related workpapers, if applicable, will deliver be reviewed to verify 19 compliance with 48 CFR, Part 31 and other related laws and regulations. In the instances 20 of a CPA ICR Audit Workpaper Review it is the CONSULTANT’S responsibility to ensure 21 federal, state, or local government officials are allowed full access to the Developer a written report of its findings CPA’s 22 workpapers. The AGREEMENT, cost proposal, and request for development ICR shall be adjusted by the Developer of a corrective action plan where appropriate23 CONSULTANT and approved by the CONTRACT ADMINISTRATOR to conform to the 24 audit or review recommendations. The Developer hereby CONSULTANT agrees to timely correct all deficiencies that individual terms of costs 25 identified in the corrective action plan; (h) If audit report shall be incorporated into the result of any audit AGREEMENT by this reference if 26 directed by the City COUNTY at its sole discretion. Refusal by the CONSULTANT to 27 incorporate audit or DIA establishes review recommendations, or to ensure that the amount of its Total Development Cost has been overstated by five percent (5%) Federal, State, or morelocal 1 governments have access to CPA workpapers, the entire expense will be considered a breach of the audit shall be borne by the Developer; (i) Additional monies due as a result of any audit or annual reconciliation shall be paid within thirty (30) days of date 2 AGREEMENT terms and cause for termination of the DIA’s invoice; and (j) Should any audit reveal that the Developer has overstated the amount AGREEMENT and disallowance of its Total Development Cost, and the Developer does not make restitution within thirty (30) days from the date of receipt of written notice from the DIA, then, in addition to any other remedies available to the DIA, the DIA may terminate this Agreement, solely at its option, by written notice to the Developer3 prior reimbursed costs.

RETENTION OF RECORDS/AUDIT. ‌ 11.1 The Developer agrees: (a) To University must establish and maintain books, records and documents (including electronic storage media) sufficient to reflect all income and expenditures of all funds provided by the DIA under this Agreement; (b) To retain all records, contracts, subcontracts, papers, financial records, supporting documents, statistical records, goods, services and any all other documents (including documents, in whatsoever form or format including, but not limited to electronic storage media, (for purposes of this Article 19, hereinafter referred to as the “Records”) sufficient to reflect all receipt and expenditures of funds provided by the City under this Agreement. 11.2 The University must retain all Project Records pertinent to this Agreement for a period of six three (63) years after completion of the date of final payment by the DIA under this Agreement, including auditable records pertaining to jobs filled by third-party employersProject. If an audit has been initiated and audit findings have not been resolved at the end of such six (6) year periodyears, the records Records shall be retained until resolution of the audit findings or any litigation which may be based on the terms of this Agreement, at no additional cost to the DIACity. Any audit of Records shall be retained for longer periods when the Developer pursuant to retention period exceeds the terms of this Section 10.22 shall not be performed time frames required by an auditing firm that is paid on a contingency basis;law or ordinance. (c) 11.3 Upon demand, at no additional cost to the DIACity, to the University must facilitate the duplication and transfer of any records or documents pertinent to this Agreement Records during the required retention period;period in Section 19.2 hereof. (d) To assure that 11.4 The University must provide these records pertinent Records at all reasonable times for inspection, review, copying or audit by the City, including but not limited to this Agreement the Council Auditor’s Office. 11.5 At all reasonable times for as long as the Records are maintained, the University must allow persons duly authorized by the City, including but not limited to the Council Auditor’s Office, to have full access to and the right to examine any of the Developerprovider’s contracts and related records and documentsRecords, relative to the Project, regardless of the form in which kept shall be subject kept. 11.6 The University, at all reasonable times to inspectionits sole and exclusive cost and expense, review, copying, must provide audits or audit by personnel duly authorized reports as requested by the DIACity, including but not limited to the City Council auditors; (e) To ensure and must insure that all related party transactions are disclosed to the DIA;auditor. (f) To include the aforementioned audit, 11.7 The University must comply and cooperate immediately with any inspections, investigations and record keeping requirements in all subcontracts and assignments of this Agreement; (g) To permit persons duly authorized reviews, investigations, deemed necessary by the DIACity. 11.8 The University must permit the City, including but not limited to the City Council auditorsAuditor’s Office, to inspect and copy any records, papers, documents, facilities, goods and services of the Developer which are relevant to this Agreement, and to interview any employees employees, subcontractors and subcontractor employees of the Developer University to assure the DIA City of the satisfactory performance of the terms and conditions of this Agreement. Following such review, if performance of the DIA University is, in the opinion of the CITY, deficient, the City will deliver to the Developer University a written report of its findings the deficiencies and request for development by the Developer University of a corrective action plan where appropriateplan. The Developer University hereby agrees to timely prepare and submit, to the City, said corrective plan within ten (10) days of receiving the City’s written report. Thereafter, the University must correct all deficiencies identified in the corrective action plan; , within ten (h) If the result of any audit by the City or DIA establishes that the amount of its Total Development Cost has been overstated by five percent (5%) or more, the entire expense of the audit shall be borne by the Developer; (i) Additional monies due as a result of any audit or annual reconciliation shall be paid within thirty (30) days of date of the DIA’s invoice; and (j) Should any audit reveal that the Developer has overstated the amount of its Total Development Cost, and the Developer does not make restitution within thirty (3010) days from the date of City’s receipt of written notice from the DIAcorrective action plan. The Parties agree that University shall comply with Section 215.97, thenFla. Stat. 11.9 All reports, in addition audits, and other information provided by the University pursuant to any other remedies available this Section shall contain the following statement: “The information provided to the DIACity of Jacksonville in this submittal is submitted under penalties of perjury, under Section 837.06, Florida Statutes.” 11.10 To the DIA may terminate extent that the University uses subcontractors in the performance of the Services under this Agreement, solely at its optionor assigns this Agreement with prior City consent, by written notice to the DeveloperUniversity must include the aforementioned audit, inspections, investigations and record keeping requirements in all subcontracts and assignments.

RETENTION OF RECORDS/AUDIT. ‌ The Developer agrees: (a) To establish and maintain books, records and documents (including electronic storage media) sufficient to reflect all income and expenditures of all funds provided by the DIA under this Agreement; (b) To retain all records, financial records, supporting documents, statistical records, and any other documents (including electronic storage media) pertinent to this Agreement for a period of six (6) years after completion of the date of final payment by the DIA under this Agreement, including auditable records pertaining to jobs filled by third-party employers. If an audit has been initiated and audit findings have not been resolved at the end of such six (6) year period, the records shall be retained until resolution of the audit findings or any litigation which may be based on the terms of this Agreement, at no additional cost to the DIA. Any audit of the Developer pursuant to the terms of this Section 10.22 11.22 shall not be performed by an auditing firm that is paid on a contingency basis; (c) Upon demand, at no additional cost to the DIA, to facilitate the duplication and transfer of any records or documents pertinent to this Agreement during the required retention period; (d) To assure that these records pertinent to this Agreement including any of the Developer’s contracts and related records and documents, regardless of the form in which kept shall be subject at all reasonable times to inspection, review, copying, or audit by personnel duly authorized by the DIA, including but not limited to the City Council auditors; (e) To ensure that all related party transactions are disclosed to the DIA; (f) To include the aforementioned audit, inspections, investigations and record keeping requirements in all subcontracts and assignments of this Agreement; (g) To permit persons duly authorized by the DIA, including but not limited to the City Council auditors, to inspect and copy any records, papers, documents, facilities, goods and services of the Developer which are relevant to this Agreement, and to interview any employees and subcontractor employees of the Developer to assure the DIA of the satisfactory performance of the terms and conditions of this Agreement. Following such review, the DIA will deliver to the Developer a written report of its findings and request for development by the Developer of a corrective action plan where appropriate. The Developer hereby agrees to timely correct all deficiencies identified in the corrective action plan; (h) If the result of any audit by the City or DIA establishes that the amount of its Total Development Cost has been overstated by five percent (5%) or more, the entire expense of the audit shall be borne by the Developer; (i) Additional monies due as a result of any audit or annual reconciliation shall be paid within thirty (30) days of date of the DIA’s invoice; and (j) Should any audit reveal that the Developer has overstated the amount of its Total Development Cost, and the Developer does not make restitution within thirty (30) days from the date of receipt of written notice from the DIA, then, in addition to any other remedies available to the DIA, the DIA may terminate this Agreement, solely at its option, by written notice to the Developer.

RETENTION OF RECORDS/AUDIT. ‌ The Developer agrees: (a) : To establish and maintain books, records and documents (including electronic storage media) with respect to itself, any Developer Subsidiaries and the Project sufficient to reflect all income and expenditures of all funds provided by the DIA City under this Agreement; (b) . To retain retain, with respect to the Project, all client records, financial records, supporting documents, statistical records, and any other documents (including electronic storage media) pertinent to this Agreement for a period of six (6) years after completion of the date of final payment by the DIA City under this Agreement, including auditable records pertaining Agreement with respect to jobs filled by third-party employersthe Project. If an audit has been initiated and audit findings have not been resolved at the end of such six (6) year periodyears, the records shall be retained until resolution of the audit findings or any litigation which may be based on the terms of this Agreement, at no additional cost to the City or the DIA. Any audit of the Developer pursuant to the terms of this Section 10.22 shall not be performed by an auditing firm that is paid on a contingency basis; (c) Upon demand, at no additional cost to the City or DIA, to facilitate the duplication and transfer of any records or documents pertinent to this Agreement during the required retention period; (d) . To assure that these records pertinent to this Agreement including any of the Developer’s contracts and related records and all records, supporting documents, regardless of the form statistical records, and any other documents (including electronic storage media) referenced in which kept this Section XIX.22. shall be subject at all reasonable times to inspection, review, copying, or audit by personnel duly authorized by the DIACity, including but not limited to the City Council auditors; (e) . At all reasonable times for as long as records are maintained, to allow persons duly authorized by the City, including but not limited to the City Council auditors, full access to and the right to examine any of the Developer’s and any Developer Subsidiary’s contracts and related records and documents, regardless of the form in which kept. To ensure that all related party transactions with respect to the development and operation of the Project are disclosed to the DIA; (f) City. To include the aforementioned audit, inspections, investigations and record keeping requirements in all subcontracts and assignments any assignment of this Agreement; (g) To . Upon reasonable prior notice and during regular business hours, to permit persons duly authorized by the DIACity, including but not limited to the City Council auditors, to inspect and copy any records, papers, documents, facilities, goods and services of the Developer which and any Developer Subsidiary that are relevant to this Agreement, and to interview any employees and subcontractor employees of the Developer and any Developer Subsidiary to assure the DIA City of the satisfactory performance of the terms and conditions of this Agreement. Following such review, the DIA City will deliver to the Developer a written report of its findings and request for development by the Developer or any Developer Subsidiary of a corrective action plan where appropriate. The Developer hereby agrees to timely correct (or cause the applicable Developer Subsidiary to correct) all deficiencies identified in the corrective action plan; (h) If the result of any audit by the City or DIA establishes that the amount of its Total Development Cost has been overstated by five percent (5%) or more, the entire expense of the audit shall be borne by the Developer; (i) Additional monies due as a result of any audit or annual reconciliation shall be paid within thirty (30) days of date of the DIA’s invoice; and (j) Should any audit reveal that the Developer has overstated the amount of its Total Development Cost, and the Developer does not make restitution within thirty (30) days from the date of receipt of written notice from the DIA, then, in addition plan necessary to any other remedies available to the DIA, the DIA may terminate comply with this Agreement, solely at its option, by written notice to the Developer.

RETENTION OF RECORDS/AUDIT. ‌ The Developer agrees: 19 A. For the purpose of determining the sufficiency of the CONSUTLANT’S 20 performance of the contract (a) To establish and compliance with Public Contract Code 10115, et seq. and 21 Title 21, California Code of Regulations, Chapter 21, Section 2500 et seq., when 22 applicable), the CONSULTANT, subcontractors, and the COUNTY, and each of them, shall 23 maintain all books, records and documents (including electronic storage media) sufficient to reflect all income and expenditures of all funds provided by the DIA under this Agreement; (b) To retain all records, financial records, supporting documents, statistical papers, accounting records, and any other documents (including electronic storage media) pertinent evidence pertaining 24 to this Agreement for a period of six (6) years after completion the performance of the date of final payment by the DIA under this Agreement, including auditable records pertaining to jobs filled by third-party employers. If an audit has been initiated and audit findings have not been resolved at the end of such six (6) year period, the records shall be retained until resolution of the audit findings or any litigation which may be based on the terms of this Agreement, at no additional cost to the DIA. Any audit of the Developer pursuant to the terms of this Section 10.22 shall not be performed by an auditing firm that is paid on a contingency basis; (c) Upon demand, at no additional cost to the DIA, to facilitate the duplication and transfer of any records or documents pertinent to this Agreement during the required retention period; (d) To assure that these records pertinent to this Agreement including any of the Developer’s contracts and related records and documents, regardless of the form in which kept shall be subject at all reasonable times to inspection, review, copying, or audit by personnel duly authorized by the DIAAGREEMENT, including but not limited to, the costs of 25 administering the AGREEMENT. 26 B. All parties shall make such materials available at their respective offices at all 27 reasonable times throughout the entirety of the contract term and for three years from the 28 date of final payment under the contract, pursuant to Government Code 8546.7. The state, 1 the State Auditor, the COUNTY, Federal Highway Administration, or any duly authorized 2 representative of the federal government shall have access to any books, records, and 3 documents of the CONSULTANT that are pertinent to the City Council auditors; (e) To contract for audit, examinations, 4 excerpts, and transactions, and copies thereof shall be furnished if requested. It shall be 5 the responsibility of the CONSULTANT to ensure that all related party transactions are disclosed to the DIA;subcontracts in excess of 6 $25,000 shall contain this provision. (f) To include the aforementioned audit, inspections, investigations 7 C. The CONSULTANT and record keeping requirements in all subcontracts and assignments of this Agreement; (g) To permit persons duly authorized by the DIAsubconsultants’ contracts, including cost proposals and 8 indirect cost rates (ICR), are subject to audits or reviews such as, but not limited to the City Council auditorsto, to inspect and copy any recordsa 9 Contract Audit, papersan Incurred Cost Audit, documentsan ICR Audit, facilities, goods and services of the Developer which are relevant to this Agreement, and to interview any employees and subcontractor employees of the Developer to assure the DIA of the satisfactory performance of the terms and conditions of this Agreementor a certified public accountant (CPA) 10 ICR Audit Workpaper Review. Following such If selected for audit or review, the DIA AGREEMENT, cost 11 proposal and ICR and related workpapers, if applicable, will deliver be reviewed to verify 12 compliance with 48 CFR, Part 31 and other related laws and regulations. In the instances 13 of a CPA ICR Audit Workpaper Review it is the CONSULTANT’S responsibility to ensure 14 federal, state, or local government officials are allowed full access to the Developer a written report of its findings CPA’s 15 workpapers. The AGREEMENT, cost proposal, and request for development ICR shall be adjusted by the Developer of a corrective action plan where appropriate16 CONSULTANT and approved by the CONTRACT ADMINISTRATOR to conform to the 17 audit or review recommendations. The Developer hereby CONSULTANT agrees to timely correct all deficiencies that individual terms of costs 18 identified in the corrective action plan; (h) If audit report shall be incorporated into the result of any audit AGREEMENT by this reference if 19 directed by the City COUNTY at its sole discretion. Refusal by the CONSULTANT to 20 incorporate audit or DIA establishes review recommendations, or to ensure that the amount of its Total Development Cost has been overstated by five percent (5%) Federal, State, or morelocal 21 governments have access to CPA workpapers, the entire expense will be considered a breach of the audit shall be borne by the Developer; (i) Additional monies due as a result of any audit or annual reconciliation shall be paid within thirty (30) days of date 22 AGREEMENT terms and cause for termination of the DIA’s invoice; and (j) Should any audit reveal that the Developer has overstated the amount AGREEMENT and disallowance of its Total Development Cost, and the Developer does not make restitution within thirty (30) days from the date of receipt of written notice from the DIA, then, in addition to any other remedies available to the DIA, the DIA may terminate this Agreement, solely at its option, by written notice to the Developer23 prior reimbursed costs.

RETENTION OF RECORDS/AUDIT. ‌ The Developer agrees: (a) To establish and maintain books, records and documents (including electronic storage media) with respect to itself, any Developer Subsidiaries and the Project sufficient to reflect all income and expenditures of all funds provided by the DIA City under this Agreement;. (b) To retain retain, with respect to the Project, all client records, financial records, supporting documents, statistical records, and any other documents (including electronic storage media) pertinent to this Agreement for a period of six (6) years after completion of the date of final payment by the DIA City under this Agreement, including auditable records pertaining Agreement with respect to jobs filled by third-party employersthe Project. If an audit has been initiated and audit findings have not been resolved at the end of such six (6) year periodyears, the records shall be retained until resolution of the audit findings or any litigation which may be based on the terms of this Agreement, at no additional cost to the City or the DIA. Any audit of the Developer pursuant to the terms of this Section 10.22 shall not be performed by an auditing firm that is paid on a contingency basis;. (c) Upon demand, at no additional cost to the City or DIA, to facilitate the duplication and transfer of any records or documents pertinent to this Agreement during the required retention period;. (d) To assure that these records pertinent to this Agreement including any of the Developer’s contracts and related records and all records, supporting documents, regardless of the form statistical records, and any other documents (including electronic storage media) referenced in which kept this Section 19.22 shall be subject at all reasonable times to inspection, review, copying, or audit by personnel duly authorized by the DIACity, including but not limited to the City Council auditors;. (e) At all reasonable times for as long as records are maintained, to allow persons duly authorized by the City, including but not limited to the City Council auditors, full access to and the right to examine any of the Developer’s and any Developer Subsidiary’s contracts and related records and documents, regardless of the form in which kept. (f) To ensure that all related party transactions with respect to the development and operation of the Project are disclosed to the DIA;City. (fg) To include the aforementioned audit, inspections, investigations and record keeping requirements in all subcontracts and assignments any assignment of this Agreement;. (gh) To Upon reasonable prior notice and during regular business hours, to permit persons duly authorized by the DIACity, including but not limited to the City Council auditors, to inspect and copy any records, papers, documents, facilities, goods and services of the Developer which and any Developer Subsidiary that are relevant to this Agreement, and to interview any employees and subcontractor employees of the Developer and any Developer Subsidiary to assure the DIA City of the satisfactory performance of the terms and conditions of this Agreement. Following such review, the DIA City will deliver to the Developer a written report of its findings and request for development by the Developer or any Developer Subsidiary of a corrective action plan where appropriate. The Developer hereby agrees to timely correct (or cause the applicable Developer Subsidiary to correct) all deficiencies identified in the corrective action plan; (h) If the result of any audit by the City or DIA establishes that the amount of its Total Development Cost has been overstated by five percent (5%) or more, the entire expense of the audit shall be borne by the Developer; (i) Additional monies due as a result of any audit or annual reconciliation shall be paid within thirty (30) days of date of the DIA’s invoice; and (j) Should any audit reveal that the Developer has overstated the amount of its Total Development Cost, and the Developer does not make restitution within thirty (30) days from the date of receipt of written notice from the DIA, then, in addition plan necessary to any other remedies available to the DIA, the DIA may terminate comply with this Agreement, solely at its option, by written notice to the Developer.

RETENTION OF RECORDS/AUDIT. ‌ The Developer DCFA agrees: (a) To establish and maintain books, records and documents (including electronic storage media) sufficient to reflect all income and expenditures of all funds provided by the DIA City under this Agreement;. (b) To retain all client records, financial records, supporting documents, statistical records, and any other documents (including electronic storage media) pertinent to this Agreement for a period of six (6) years after completion of the date of final payment by the DIA City under this Agreement, including auditable records pertaining to jobs filled by third-party employers. If an audit has been initiated and audit findings have not been resolved at the end of such six (6) year periodyears, the records shall be retained until resolution of the audit findings or any litigation which may be based on the terms of this Agreement, at no additional cost to the DIA. Any audit of the Developer pursuant to the terms of this Section 10.22 shall not be performed by an auditing firm that is paid on a contingency basis;City. (c) Upon demand, at no additional cost to the DIACity, to facilitate the duplication and transfer of any records or documents pertinent in its possession or control which pertain to this the Agreement and the Project (collectively, “Project Records”) during the required retention period;. (d) To assure that these records pertinent to this Agreement including any of the Developer’s contracts and related records and documents, regardless of the form in which kept Project Records shall be subject at all reasonable times times, upon reasonable notice, to inspection, review, copying, or audit by personnel duly authorized by the DIACity, including but not limited to the City Council auditors;. All such inspections are to be performed so as not to unreasonably disrupt or interfere with the normal business operations of DCFA. (e) To Upon the City’s written request, to ensure that all related party transactions with respect to the Project are disclosed to the DIA;City. (f) To include the aforementioned audit, inspections, investigations and record keeping requirements in all subcontracts and assignments of this Agreement;. (g) To Upon reasonable notice, to permit persons duly authorized by the DIACity, including but not limited to the City Council auditors, to inspect and copy any records, papers, documentsProject Records, facilities, goods and services of the Developer DCFA which are relevant to this Agreement, and to interview any employees and subcontractor employees of the Developer DCFA to assure the DIA City of the satisfactory performance of the terms and conditions of this Agreement; provided, that such inspections and interviews shall be performed so as to not unreasonably disrupt or interfere with the normal business operations of DCFA. Following such review, the DIA City will deliver to the Developer DCFA a written report of its findings and request for development by the Developer DCFA of a corrective action plan where appropriate. The Developer hereby DCFA xxxxxx agrees to timely correct all deficiencies identified in the corrective action plan;. (h) If the result of any audit by the City or DIA establishes that the amount of its Total Development Cost private Capital Investment, Direct Costs or Verified Direct Costs has been overstated by five percent (5%) or more, the entire expense of the audit shall be borne by the Developer;DCFA. (i) Additional monies due as a result of any audit or annual reconciliation shall be paid within thirty (30) days of date of the DIACity’s invoice; and. (j) Should the annual reconciliation or any audit reveal that the Developer DCFA has overstated the amount of its Total Development Costprivate Capital Investment, Direct Costs or Verified Direct Costs, and the Developer DCFA does not make restitution within thirty (30) days from the date of receipt of written notice from the DIACity, then, in addition to any other remedies available to the DIACity, the DIA City may terminate this Agreement, solely at its option, by written notice to the DeveloperDCFA.