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<br />Manager relating to Operating Revenues and Operating Expenses, including, without <br />limitation, cash register tapes, credit card invoices, records of payment apps or other <br />electronic transactions, duplicate deposit tapes, and invoices. No costs incurred by the <br />Owner in conducting such audit shall be considered as Operating Expense. If any such <br />audit demonstrates that the Operating Revenues or Operating Expenditures reflected in any <br />financial statements prepared by Manager and audited as specified in the foregoing <br />subparagraph (a) are understated (in the case of Operating Expenses) or overstated (in the <br />case of Operating Revenues), in either case by more than five percent (5%), or that there <br />were material inaccuracies or omissions of any other nature which appear to be intentional <br />or grossly negligent by Manager, Manager shall pay to the Owner the reasonable cost of <br />such audit. The Owner's right to have such an audit made with respect to any Fiscal Year <br />shall expire upon the expiration of the Manager's obligation to retain all records associated <br />with Manager’s management of the Facility. Manager shall retain all such records for the <br />greater of three (3) years or the time period required by the 2021 General Records <br />Schedule: Local Government Agencies as that schedule is maintained and may be <br />amended from time to time by the North Carolina Department of Cultural Resources. <br /> <br />8.13 Annual Plan. Manager shall provide to the Owner on or before March 1st of <br />each year, an annual management plan, which shall include the annual operating budget <br />described herein for the next Fiscal Year. The annual plan shall include information <br />regarding Manager's anticipated operations for such Fiscal Year, including planned <br />operating maintenance activities by Manager, requested Capital Improvements and Capital <br />Equipment purchases and an anticipated budget therefor, anticipated programs, activities, <br />and events at the Facility, anticipated advertising and promotional activities, and planned <br />equipment and furnishings purchases. The annual plan shall be subject to review, revision, <br />and approval by the Owner. Following review and revision by the Owner, Manager shall <br />have thirty (30) days to incorporate the Owner’s revisions into its plan and resubmit the <br />revised plan for approval. Upon written approval by the Owner, such annual plan shall <br />constitute the operating program for the following Fiscal Year. <br /> <br />8.14 Monthly Reports. Prior to the 15th day of each month during the term of this <br />Agreement, Manager shall provide to the Owner a written monthly report in a form approved <br />by the Owner setting out the Facility's anticipated programs, activities and events for the <br />upcoming month and reporting on the prior month's activities and finances; provided, <br />however, that it shall not be a breach of this agreement if Manager’s report is received within <br />three (3) business days of the 15th. Manager shall include in such report a balance sheet, <br />income statement, and other financial reports (such as a departmental expense report and <br />event accounting) as Owner may reasonably request. Owner may establish a schedule of <br />monthly meetings with Manager at which Manager shall report to the Owner, in addition to <br />other reports at Owner’s discretion, all maintenance performed on capital equipment during <br />the period between monthly meetings. <br /> <br />ARTICLE 9 <br />FACILITY CONTRACTS; TRANSACTIONS WITH <br />AFFILIATES <br /> <br />9.1 Existing Contracts. To the extent practical or necessary the Owner shall <br />provide to Manager, on or before the Effective Date, full and complete copies of all <br />Existing Contracts between the prior Facility manager and its contractors. Manager shall <br />Docusign Envelope ID: 177AA06A-30B4-42FF-A85A-78B5A7C51DBE