Laserfiche WebLink
quarter falls on a weekend, holiday, or other day in which City Hall is closed, then said deposit <br />shall be made the next day City Hall is open. <br />(f) The City upon depositing DMF monies shall notify SABC by electronic mail of the net <br />amount of funds deposited to SABC. Failure by SABC to receive or acknowledge electronic mail <br />notification shall not constitute a breach of this Agreement. <br />(g) All DMF expenditures must be for the purposes identified in the Downtown <br />Enhancements and Parking Modernization Plan, and must be sufficiently documented by <br />accompanying receipts, purchase invoices, or other permanent evidences of expenditure as may <br />be prudently required by the City in accordance with Generally Accepted Accounting Principles <br />and established City accounting procedures. If SABC expends any DMF money for unauthorized <br />purposes, the City may, at its sole option, deduct the disputed amount from any future DMF <br />payments to SABC, or may terminate the Agreement pursuant to the terms of section 4.05. <br />(h) In the event questions arise relating to the payment of funds to SABC, SABC may <br />within 15 days of notification request an accounting by the City of the amount of net funds <br />disbursed to SABC. Thereupon the City shall re-evaluate the amount of such disbursement and <br />give written notification of its decision to SABC which shall be final and conclusive. <br />§ 2.02 Bi -Annual Financial Statement and Audit <br />Every six (6) months (June 30 and December 31), SABC shall submit to the City Manager a <br />complete statement of SABC's revenues and expenditures and a financial audit for the preceding half- <br />year prepared by an independent certified public accountant. <br />§ 2.03 Financial Records <br />SABC shall keep, or cause to be kept, true, accurate and complete records, including double - <br />entry books, a profit and loss statement, and a balance sheet, such that if possible at all times to <br />determine the amount and nature of all revenues and expenditures. All expenditures and transactions <br />shall be supported by documents of original entry such as sales slips, cash register tapes, and purchase <br />invoice and receipts. All such account books, statements, balance sheets and supporting documents <br />shall be retained by SABC for a period of three (3) years after the end of the accounting year to which <br />they pertain. <br />§ 2.04 Accounting Procedures <br />SABC shall maintain a system of accounting according to Generally Accepted Accounting <br />Practices. <br />11 <br />