Common use of Submission of Annual Audited Financial Statements and Annual Budgets Clause in Contracts

Submission of Annual Audited Financial Statements and Annual Budgets. (i) All Annual Payments made by the Borrower to the County Board and all Residual Receipts Certificates shall be accompanied by (i) Annual Audited Financial Statements duly certified by an independent firm of certified public accountants that are nationally recognized, setting forth in reasonable detail the computation and total amount of all Residual Receipts (as defined in the Loan Agreement) during the preceding calendar year or the computation detailing that there were no Residual Receipts during the preceding calendar year, and (ii) an independent audit of the Property prepared for the Borrower by a certified independent firm of certified public accountants that are nationally recognized, in accordance with generally accepted accounting principles. If there are no Residual Receipts for the previous year available for disbursement, the Borrower shall also provide to the County Manager or his designee a Residual Receipts Certificate certified in writing by the Borrower and prepared by a certified public accountant containing the computation detailing that there were no Residual Receipts (as defined in the Loan Agreement) during the preceding calendar year. The Borrower shall also provide to the County Manager or his designee such other supporting documentation as the County Staff may reasonably request.

Submission of Annual Audited Financial Statements and Annual Budgets. (i) All Annual Payments made by the Borrower to the County Board and all Residual Receipts Certificates shall be accompanied by (i) Annual Audited Financial Statements duly certified by an independent firm of certified public accountants that are nationally recognized, setting forth in reasonable detail the computation and total amount of all Residual Receipts (as defined in the Loan Agreement) during the preceding calendar year or the computation detailing that there were no Residual Receipts during (as defined in the Loan Agreement)during the preceding calendar year, and (ii) an independent audit of the Property prepared for the Borrower by a certified independent firm of certified public accountants that are nationally recognized, in accordance with generally accepted accounting principles. If there are no Residual Receipts for the previous year available for disbursement, the Borrower shall also provide to the County Manager or his designee a Residual Receipts Certificate certified in writing by the Borrower and prepared by a certified public accountant containing the computation detailing that there were no Residual Receipts (as defined in the Loan Agreement) during the preceding calendar year. The Borrower shall also provide to the County Manager or his designee such other supporting documentation as the County Staff may reasonably request.

Submission of Annual Audited Financial Statements and Annual Budgets. (i) All Annual AHIF Loan Payments made by the Borrower to the County Board and all Residual Receipts Certificates shall be accompanied by (i) Annual Audited Financial Statements duly certified by an independent firm of certified public accountants that are nationally recognized, setting forth in reasonable detail the computation and total amount of all Residual Receipts (as defined in the Loan Agreement) during the preceding calendar year or the computation detailing that there were no Residual Receipts during the preceding calendar year, and (ii) an independent audit of the Property prepared for the Borrower by a certified independent firm of certified public accountants that are nationally recognized, in accordance with generally accepted accounting principles. If there are no Residual Receipts for the previous year available for disbursement, the Borrower shall also provide to the County Manager or his designee a Residual Receipts Certificate certified in writing by the Borrower and prepared by a certified public accountant containing the computation detailing that there were no Residual Receipts (as defined in the Loan Agreement) during the preceding calendar year. The Borrower shall also provide to the County Manager or his designee such other supporting documentation as the County Staff may reasonably request.

Submission of Annual Audited Financial Statements and Annual Budgets. (i) i. All Annual Payments made by the Borrower to the County Board and all Residual Receipts Certificates shall be accompanied by (i) Annual Audited Financial Statements duly certified by an independent firm of certified public accountants that are nationally recognized, setting forth in reasonable detail the computation and total amount of all Residual Receipts (as defined in the Loan Agreement) during the preceding calendar year or the computation detailing that there were no Residual Receipts during the preceding calendar year, and (ii) an independent audit of the Property prepared for the Borrower by a certified independent firm of certified public accountants that are nationally recognized, in accordance with generally accepted accounting principles. If there are no Residual Receipts for the previous year available for disbursement, the Borrower shall also provide to the County Manager or his her designee a Residual Receipts Certificate certified in writing by the Borrower and prepared by a certified public accountant containing the computation detailing that there were no Residual Receipts (as defined in the Loan Agreement) during the preceding calendar year. The Borrower shall also provide to the County Manager or his her designee such other supporting documentation as the County Staff may reasonably request.

Submission of Annual Audited Financial Statements and Annual Budgets. (i) All Annual Loan Payments made by the Borrower to the County Board and all Residual Receipts Certificates shall be accompanied by (i) Annual Audited Financial Statements duly certified by an independent firm of certified public accountants that are nationally recognized, setting forth in reasonable detail the computation and total amount of all Residual Receipts (as defined in the Loan Agreement) during the preceding calendar year or the computation detailing that there were no Residual Receipts during the preceding calendar year, and (ii) an independent audit of the Property prepared for the Borrower by a certified independent firm of certified public accountants that are nationally recognized, in accordance with generally accepted accounting principles. If there are no Residual Receipts for the previous year available for disbursement, the Borrower shall also provide to the County Manager or his designee a Residual Receipts Certificate certified in writing by the Borrower and prepared by a certified public accountant containing the computation detailing that there were no Residual Receipts (as defined in the Loan Agreement) during the preceding calendar year. The Borrower shall also provide to the County Manager or his designee such other supporting documentation as the County Staff may reasonably request.

Submission of Annual Audited Financial Statements and Annual Budgets. (i) All Annual Payments made by the Borrower to the County Board and all Residual Receipts Certificates shall be accompanied by (i) Annual Audited Financial Statements duly certified by an independent firm of certified public accountants that are nationally recognized, setting forth in reasonable detail the computation and total amount of all Residual Receipts (as defined in the Loan Agreement) during the preceding calendar year or the computation detailing that there were no Residual Receipts during the preceding calendar year, and (ii) an independent audit of the Property prepared for the Borrower by a certified independent firm of certified public accountants that are nationally recognized, in accordance with generally accepted accounting principles. If there are no Residual Receipts for the previous year available for disbursement, the Borrower shall also provide to the County Manager or his her designee a Residual Receipts Certificate certified in writing by the Borrower and prepared by a certified public accountant containing the computation detailing that there were no Residual Receipts (as defined in the Loan Agreement) during the preceding calendar year. The Borrower shall also provide to the County Manager or his her designee such other supporting documentation as the County Staff may reasonably request.