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(8) Treated uniformly and consistently under accounting principles and <br />procedures approved or prescribed by the Department. <br />Section 6. Reporting, Record Retention, and Access. <br />a. Reports. The Contractor shall advise the Department regarding the progress <br />of the Project at such time and in such a manner as the Department may require, including, but <br />not limited to: operating statistics, equipment usage, meetings, progress reports, and monthly <br />performance reports. <br />The Contractor shall collect and submit to the Department at such time as it may <br />require, such financial statements, data, records, contracts, and other documents related to the <br />Project as may be deemed necessary by the Department. Such reports shall include narrative <br />and financial statements of sufficient substance to be in conformance with the reporting <br />requirements of the Department. Progress reports throughout the useful life of the project <br />equipment shall be used, in part, to document utilization of the project equipment. Failure to <br />fully utilize the project equipment in the manner directed by the Department shall constitute a <br />breach of contract, and after written notification by the Department, may result in termination of <br />the Agreement or any such remedy as the Department deems appropriate. <br />The Contractor will be responsible for having an adequate cost accounting system, <br />and the ongoing burden of proof of adequacy for such system shall be upon the Contractor. <br />The Department will determine whether or not the Contractor has an adequate cost accounting <br />system. Such determination shall be documented initially prior to payment of any invoices <br />pursuant to the Agreement, and from time to time as deemed necessary by the Department. In <br />the event of a negative finding during such determining proceedings, the Department may <br />suspend,. revoke, or place conditions upon its determination, and/or may recommend or require <br />remedial actions as appropriate. <br />b. Record Retention. The Contractor and its third party contractors shall retain <br />all records pertaining to this Project for a period of five (5) years from the date of final payment <br />Project 07-US-056 Page t 6 of 49 <br />Orange County <br />