Common use of Expense Records Clause in Contracts

Expense Records. All costs incurred by Access Manager shall be supported by properly executed payrolls, time records, receipts, invoices, vouchers or other official documentation for all expenses over $500, as evidence of the nature and propriety of the charges. All accounting documents pertaining in whole or in part to this Agreement shall be clearly identified and readily accessible. Access Manager shall submit any or all of the foregoing invoices and documentation to the City, upon request, and the City shall have the right to audit the records of the Access Manager as they relate to the work, upon reasonable notice. The Access Manager shall also: (A) Maintain an effective system of internal control over and accountability for all funds and property supplied and make sure the same are used solely for authorized purposes. (B) Keep a continuing record of all disbursement by date, check number, amount, vendor, description of items purchased and line item from which money was expended, as reflected in the Access Manager’s accounting records. The line item notations must be substantiated by a receipt, invoice marked "Paid," or payroll record. (C) Keep all receipts, purchase orders, payroll records, or vouchers which document the expenses claimed for expenses over $500.00 for a period of three (3) years after receipt of payment under this Agreement; provided, that any records and documents that are the subject of audit findings shall be retained for a longer time until such audit findings are resolved. (D) Maintain payroll and financial records for a period of six (6) years after receipt of final payment under the Agreement. (E) Permit inspection and audit of its records with respect to all matters authorized by this Agreement by representatives of the City, its designated agent, or the State Auditor, and at any time during normal business hours and as often as necessary. (F) Repay to the City any funds in its possession or control that may be due to the City at the time it is notified that Access Manager has been replaced as the Designated Public Access Manager or upon the termination of this Agreement. (G) Provide the Internal Revenue Service with appropriate and timely information regarding employee and/or Access Manager earnings.

Expense Records. All costs incurred by Access Manager shall be supported by properly executed payrolls, time records, receipts, invoices, vouchers or other official documentation for all expenses over Five Hundred Dollars ($500), as evidence of the nature and propriety of the charges. All accounting documents pertaining in whole or in part to this Agreement shall be clearly identified and readily accessible. Access Manager shall submit any or all of the foregoing invoices and documentation to the City, upon request, and the City shall have the right to audit the records of the Access Manager as they relate to the work, upon reasonable notice. The Access Manager shall also: (A) Maintain an effective system of internal control over and accountability for all funds and property supplied and make sure the same are used solely for authorized purposes. (B) Keep a continuing record of all disbursement by date, check number, amount, vendor, description of items purchased and line item from which money was expended, as reflected in the Access Manager’s accounting records. The line item notations must be substantiated by a receipt, invoice marked "Paid," or payroll record. (C) Keep all receipts, purchase orders, payroll records, or vouchers which document the expenses claimed for expenses over Five Hundred Dollars ($500.00 500) for a period of three (3) years after receipt of payment under this Agreement; provided, that any records and documents that are the subject of audit findings shall be retained for a longer time until such audit findings are resolved. (D) Maintain payroll and financial records for a period of six seven (67) years after receipt of final payment under the Agreement. (E) Permit inspection and audit of its records with respect to all matters authorized by this Agreement by representatives of the City, its designated agent, or the State Auditor, and at any time during normal business hours and as often as necessary. (F) Repay to the City any funds in its possession or control that may be due to the City at the time it is notified that Access Manager has been replaced as the Designated Public Access Manager or upon the termination of this Agreement. (G) Provide the Internal Revenue Service with appropriate and timely information regarding employee and/or Access Manager earnings.