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1 recommendations and plans to improve. Highlight significant <br />2 accomplishments and problems. <br />3 7.3.4 Annual Reports <br />4 Annual Reports are to be essentially in the form and content of the quarterly <br />5 reports. In addition, at Agency's request, Company shall provide annual <br />6 financial reports/statements (including supplemental schedules describing the <br />7 . Company's operations, expenses, and revenues pertaining to this Agreement). <br />8 The annual report shall also include a complete inventory of equipment used to <br />9 provide all services. <br />10 Financial statements shall include the specific revenues and expenses in <br />11 connection with the operations provided for in this Agreement. The financial <br />'12 statements, supplemental schedule, management letter, and footnotes shall be <br />13 prepared in accordance with Generally Accepted AccoUnting Principles (GAAP), <br />14 and be audited in accordance with Generally Accepted Auditing Standards <br />15 (GAAS) by a certified public accountant (CPA) licensed (in good standing) to <br />16 practice public accounting in the State of California, as determined by the State of <br />17 California Department of Consumer Affairs Board of Accountancy. The CPA <br />18 opinion on Company's annual financial statements and supplemental schedule <br />19 shall be unqualified, except as to uncertainties for which the ultimate outcome <br />20 cannot be determined by the date of the CPA's opinion. The costs for the annual <br />21 audit shall be borne by Company as a direct cost of service. <br />22 At Agency's request, Company shall provide Agency with copies of working <br />23 papers or other documentation deemed relevant by Agency relating to the <br />24 information required above. <br /> <br />25 7.3.5 Waste Generation/Characterization Studies <br />26 Company acknowledges that Agency must do Solid Waste Generation and <br />27 Disposal characterization studies periodically to comply with AB 939 <br />28 requirements. Company agrees to participate and cooperate with Agency and its <br />29 agents, and to accomplish studies, collect data, and prepare reports as needed to <br />30 determine weights and volumes of Recyclable Materials and Green Waste, and to <br />31 characterize Solid Waste generated, disposed, transformed, diverted, or <br />32 otherwise handled/processed to satisfy AB 939 requirements. <br /> <br /> Page 40 8/2/96 <br /> <br /> <br />