Agmt05 BFI Waste Systems - Laserfiche WebLink

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1 Contractor agrees that the records of any and all companies conducting 2 operations addressed in the Agreement shall be provided or made available to Agency 3 and its official representatives during normal business hours. 4 5 8.02.2 Maintenance of Financial and Operational Records. 6 7 A. General. In order to effectuate the periodic rate review 8 contemplated by Article 6, it is necessary for Contractor to maintain accurate, detailed 9 financial and operational information in a consistent format and to make such 10 information available to the Agency and the SBWMA in a timely fashion. 11 12 B. Contractor's Accounting Records. Contractor shall maintain 13 accurate and complete accounting records containing the underlying financial and 14 operating data relating to and showing the basis for computation of all costs associated 15 with providing services under this Agreement. The accounting records shall be 16 prepared in accordance with Generally Accepted Accounting I'rinciples (GAAI') 17 consistently applied. 18 19 C. Inspection of Records. The Agency, its auditors and other 20 agents selected by the Agency, shall have the right, during regular business hours, to 21 conduct unannounced on-site inspections of the records and accounting systems of 22 Contractor and to make copies of any documents relevant to this Agreement. 23 24 D. Retention of Records. Unless otherwise herein required, 25 Contractor shall retain all records and data required to be maintained by this 26 Agreement for at least five (5) years. 27 28 Records and data required to be maintained that are 29 specifically directed to be retained shall be retrieved by Contractor and made available 30 to the Agency. 31 32 Records and data required to be maintained that are not 33 specifically directed to be retained that are, in the sole opinion of the Agency, material 34 to the rate review or to a determination of the Contractor's performance under this 35 Agreement, shall be retrieved by Contractor and made available to the Agency. 36 37 Records and data required to be maintained that are not 38 specifically directed to be retained and that are not material to a rate review and/ or not 39 required for the determination of the Contractor's performance do not need to be 40 retrieved by Contractor. In such a case, however, the Agency may make reasonable 41 assumptions regarding what information is contained in such records and data, and 42 such assumption shall be conclusive in whatever action the Agency takes. 43 Atty j Agrj2005.022 060205 -40-