Item 20 - Solid Waste Services Proposers

Home Browse Search

RFP No. 20-097 - Collection and Handling of Solid Waste Generated, Produced and/or Accumulated in the City of Santa Ana 26 Section 8.2.1, (last paragraph) – General Contractor agrees that the records of any and all companies conducting operations addressed in the Agreement shall be provided or made available to City and its official representatives during normal business hours. Account histories shall be accessible to the City by computer for a minimum of five (5) years. City may review or utilize Contractor’s financial records described in this section for any purpose whatsoever the purposes described in Section 8.2.7. Rationale: This revision is intended to place appropriate, industry standard limits on the type of financial information subject to City review. Section 8.2.7, (first paragraph) – Audit City may conduct an audit of Contractor at any time. The scope of the audit, and auditing party, will be determined by City and the scope may include, but of the audit is not limited to: Rationale: This revision is intended to place appropriate, industry standard limits on the type of financial information subject to City review. However, Waste Management is open to amending or adding to the list of items to be included in the scope during negotiations and welcomes the City’s input. Section 8.3.5 – Financial Report The City may, at City’s option, request the Contractor's audited financial reports/statements (or parent company, if parent company submits Corporate Guaranty of Performance), and Contractor’s internally prepared supplemental statement of income and expenses related specifically to the City of Santa Ana operations, for the most recently completed fiscal year in connection with an extraordinary rate adjustment request, billing audit, Franchise Fee audit, or verification of other information required under this Agreement the matters set forth in Section 8.2.7. The financial statements and footnotes shall be prepared in accordance with Generally Accepted Accounting Principles (GAAP) and audited, in accordance with Generally Accepted Auditing Standards (GAAS) by a certified public accountant (CPA) licensed (in good standing) to practice public accounting in the State of California as determined by the State of California Department of Consumer Affairs Board of Accountancy. The cost for preparation of the financial statements and audit shall be borne by Contractor as a direct cost of service. In addition, Upon request, Contractor shall provide to City the supplemental schedule on a compiled basis showing Contractor's results of operations, including the specific revenues and expenses in connection with the operations provided for in this Agreement, separated from others included in such financial statements. At City's request, Contractor shall provide City with copies of working papers or other documentation deemed relevant by City relating to information shown in the disclosure letter. The disclosure letter shall be provided to City. Rationale: This revision is intended to place appropriate, industry standard limits on the type of financial information subject to City review. Further, only Contractor’s parent prepares audited financial statements, which are not specific to the City, diminishing the requirement of the second paragraph as written. Section 8.5 – Right to Inspect Records City shall have the right to inspect or review the specific documents or records required expressly or by inference pursuant to this Agreement, or any other similar records or reports of Contractor or its related party entities that City shall deem, in its reasonable discretion judgment, necessary to evaluate annual reports, compensation applications provided for in this Agreement and Contractor's performance provided for in this Agreement the matters set forth in Section 8.2.7. Contractor shall make all records and documents to be reviewed and inspected by the City, unless infeasible, at its local office as a part of any Attachment 6 6 - 11