Economic Benefits Report. Within ninety (90) days of the third anniversary of the commencement of the Contract Delivery Term, Seller shall submit an Economic Benefits Report prepared by a New York State independent certified public accountant, demonstrating the actual Incremental Economic Benefits and Verified MWBE and SDVOB Dollars that resulted from the construction and operation of the Bid Facility. To fulfill this requirement, Seller’s independent certified public accountant will be required to prepare an “agreed upon procedures” report in accordance with the procedures outlined in the Economic Benefits Audit Protocol and Economic Benefits Verification Standards that were released with the Notice of Qualification provided to Seller. The Economic Benefits Audit Protocol will serve as a requirements document to guide the independent audit, allowing auditors to understand the process they are asked to perform. The Economic Benefits Verification Standards will define valid expense claims and standardize submission and documentation processes and best practices. The audit will verify the economic benefits created by the Bid Facility under the categories and within the eligibility requirements listed in RESRFP22-1. The Economic Benefits Report will be funded at Seller’s expense.
Economic Benefits Report. Sellers shall submit a report including documentation demonstrating the actual economic benefits that resulted from the construction and operation of the Bid Facility. Such report should include copies of sufficient records and documentation relating to employment, purchases, and other payments necessary to demonstrate the economic benefits created by the Bid Facility under the categories listed under Section 3 of RFP 1037. Seller will be required to submit such report within sixty (60) days of the third anniversary of the Commercial Operation Milestone Date.
Economic Benefits Report. Seller must submit Economic Benefits Reports through the Independent CPA in accordance with the schedule set out in Section 12.01 of this Agreement.
Economic Benefits Report. Within one hundred twenty (120) days of the third anniversary of the beginning of the Contract Delivery Term, Seller must submit the Economic Benefits Report through the Independent CPA. Verification Process. The verification process for the Seller is as follows:
Economic Benefits Report. Within one hundred twenty (120) days of the third anniversary of the beginning of the Contract Delivery Term, Seller must submit the Economic Benefits Report through the Independent CPA. Verification Process. The verification process for the Seller is as follows: No later than thirty (30) months after the beginning of the Contract Delivery Term, Seller will provide the name of its selected Independent CPA to NYSERDA. Upon engagement, Seller will provide this Agreement, highlighting the Expected Total Dollars and this Exhibit F, to the Independent CPA, with appropriate redactions of any non-public information unrelated to Economic Benefits or the Economic Benefits Report. Seller will prepare an Economic Benefits Report that both summarizes in narrative form and documents the total dollar amount of actual Economic Benefits accrued to New York as a result of the development, construction, modification, and operation of the Selected Project from January 1, 2021 through the end of the first three (3) years of the Contract Delivery Term. The Economic Benefits Report shall also describe the activities of Seller in fulfillment of Section 12.01(c) of this Agreement with respect to Workforce and Community Development Opportunity Activities, described in Exhibit D, over the same period. The Independent CPA will not verify those Workforce and Community Development Opportunity Activities in the AUPR quantitatively, except to the extent such activities result in expenditures claimed as Eligible Economic Benefits. Acceptable documentation for expenditures incurred by Seller and/or its affiliates shall include the following (for an individual expense within each category of expense, any one of the listed documents or any combination thereof will be acceptable): For labor-related expenses: either W-2s,1099s or other tax documentation; copies of subcontracts or other labor-related arrangements detailing labor provided under such contracts and that provide confirmation that labor is for work performed within New York or is covered by the Project Labor Agreement described in Section 18.11 of this Agreement. For local goods and services: either receipts for hotels, meals, fuel, rental cars, and equipment purchased in New York (per diem payments without specific, itemized expenses are not an acceptable form of documentation); a check register report per vendor for goods or services sourced from a New York State Firm (which includes the check numbers, dollar amounts, invoice num...
