Agenda - 01-03-1989 - Laserfiche WebLink

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Page 5 of 13 the Project Account will be drawn only in accordance with a properly signed voucher then on file in the office of the Contractor stating in proper detail the purpose for which such check or order is drawn. All checks, invoices, contracts, vouchers, orders, or other accounting documents pertaining in whole or in part to the Project shall be clearly identified, readily accessible, and to the extent feasible kept separate and apart from all other such documents. (d) Reports. The Contractor shall advise the Department regarding the progress of the Project at such time and in such manner as the Department may require throughout the useful life of the Project equipment as defined in Section 12 herein. These reports shall be used, in part, to document utilization of the Project equipment. Failure to carry out the requirements set forth in this Section, or to fully utilize the project equipment in the manner directed by the Department, shall constitute a breach of contract and, after written notification by the Department, may result in termination of the Agreement or any such remedy as the Department deems appropriate. - The Department shall provide all instruction, guidance, or forms necessary to prepare such reports. The Contractor shall retain the reports for a period of three (3) years after the reporting period. The Department shall have the right to inspect such retained data as necessary. (e) Auk. In accordance with Office of Management and Budget (OMB) Ili Circular A-128, "Audits of State and Local Government", dated April 2, 1985, and the Single Audit Act of 1984, the Contractor shall arrange for an independent financial and compliance audits of its fiscal operations. The Contractor shall furnish the Department with a copy of the independent audit report within thirty (30) days of completion of the report, but no later than one (1) year after the end of the audit period.