Common use of Audit of Books and Records Clause in Contracts

Audit of Books and Records. CONSULTANT and subconsultants shall maintain and make available to ALAMEDA CTC, its authorized agents including but not limited to representatives of the regional, state and federal governments, and their respective officers and employees, for inspection and audit, all work products, materials, data and records for examination, any and all ledgers and books of account, invoices, vouchers, canceled checks, and other records or documents evidencing or related to the expenditures and disbursements charged to ALAMEDA CTC, and shall furnish to ALAMEDA CTC, its agents, and employees, such other evidence or information as ALAMEDA CTC may require with respect to any such expense or disbursement charged by the CONSULTANT. CONSULTANT and any subconsultants hereunder shall establish and maintain an accounting system and records that properly accumulate and segregate incurred contract costs by task and subtask. The accounting system of the CONSULTANT and all subconsultants hereunder shall conform to Generally Accepted Accounting Principles (GAAP), enable determination of incurred costs at interim points of completion, and provide support for reimbursement payment vouchers or invoices. The records described in this Section shall be retained by the CONSULTANT and subconsultants and made available for inspection by ALAMEDA CTC during the AGREEMENT period and for a period of three (3) years after this AGREEMENT is terminated, four (4) years after the fiscal year of the last expenditure, or until completion of any litigation, claim or audit, whichever is longest. ALAMEDA CTC may, in its sole discretion, conduct a periodic audit, not more frequently than once every twelve (12) months, of the project costs under this AGREEMENT in accordance with generally accepted accounting practices, as set forth in Article I, Section A, Paragraph 4(f) of this AGREEMENT. This Paragraph 9 is applicable to all subconsultants hereunder.

Audit of Books and Records. For the purpose of determining compliance with Public Contract Code 10115, et seq. and Title 21, California Code of Regulations, Chapter 21, Section 2500 et seq., when applicable and other matters connected with the performance of the contract pursuant to Government Code 8546.7; CONSULTANT and subconsultants shall maintain and make available to ALAMEDA CTC, its authorized agents including but not limited to representatives of the regional, state and federal governments, and their respective officers and employees, for inspection and audit, all work products, materials, data and records for examination, any and all ledgers and books of account, invoices, vouchers, canceled checks, and other records or documents evidencing or related to the expenditures and disbursements charged to ALAMEDA CTC, and shall furnish to ALAMEDA CTC, its agents, and employees, such other evidence or information as ALAMEDA CTC may require with respect to any such expense or disbursement charged by the CONSULTANT. CONSULTANT and any subconsultants hereunder shall establish and maintain an accounting system and records that properly accumulate and segregate incurred contract costs by task and subtask. The accounting system of the CONSULTANT and all subconsultants hereunder shall conform to Generally Accepted Accounting Principles (GAAP), enable determination of incurred costs at interim points of completion, and provide support for reimbursement payment vouchers or invoices. The records described in this Section shall be retained by the CONSULTANT and subconsultants and made available for inspection by ALAMEDA CTC during the AGREEMENT period and for a period of three (3) years after this AGREEMENT is terminated, four (4) years after the fiscal year of the last expenditure, or until completion of any litigation, claim or audit, whichever is longest. ALAMEDA CTC may, in its sole discretion, conduct a periodic audit, not more frequently than once every twelve (12) months, of the project costs under this AGREEMENT in accordance with generally accepted accounting practices, as set forth in Article I, Section A, Paragraph 4(f) of this AGREEMENT. This Paragraph 9 is applicable to all subconsultants hereunder, excluding subcontracts of Twenty- Five Thousand Dollars ($25,000) or lesser amounts.