OTHER-2025-049-Approval of Sportsplex Management Services Agreement

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Docusign Envelope ID : 177AA06A-30B442FF-A85A-78B5A7C51DBE Manager relating to Operating Revenues and Operating Expenses , including , without limitation , cash register tapes , credit card invoices , records of payment apps or other electronic transactions , duplicate deposit tapes , and invoices . No costs incurred by the Owner in conducting such audit shall be considered as Operating Expense . If any such audit demonstrates that the Operating Revenues or Operating Expenditures reflected in any financial statements prepared by Manager and audited as specified in the foregoing subparagraph (a ) are understated ( in the case of Operating Expenses ) or overstated (in the case of Operating Revenues ) , in either case by more than five percent (5 % ) , or that there were material inaccuracies or omissions of any other nature which appear to be intentional or grossly negligent by Manager, Manager shall pay to the Owner the reasonable cost of such audit . The Owner's right to have such an audit made with respect to any Fiscal Year shall expire upon the expiration of the Manager' s obligation to retain all records associated with Manager' s management of the Facility . Manager shall retain all such records for the greater of three (3 ) years or the time period required by the 2021 General Records Schedule : Local Government Agencies as that schedule is maintained and may be amended from time to time by the North Carolina Department of Cultural Resources . 8 . 13 Annual Plan . Manager shall provide to the Owner on or before March 1st of each year, an annual management plan , which shall include the annual operating budget described herein for the next Fiscal Year . The annual plan shall include information regarding Manager's anticipated operations for such Fiscal Year, including planned operating maintenance activities by Manager, requested Capital Improvements and Capital Equipment purchases and an anticipated budget therefor, anticipated programs , activities , and events at the Facility , anticipated advertising and promotional activities , and planned equipment and furnishings purchases . The annual plan shall be subject to review , revision , and approval by the Owner . Following review and revision by the Owner, Manager shall have thirty (30 ) days to incorporate the Owner' s revisions into its plan and resubmit the revised plan for approval . Upon written approval by the Owner, such annual plan shall constitute the operating program for the following Fiscal Year . 8 . 14 Monthly Reports . Prior to the 15th day of each month during the term of this Agreement , Manager shall provide to the Owner a written monthly report in a form approved by the Owner setting out the Facility's anticipated programs , activities and events for the upcoming month and reporting on the prior month ' s activities and finances ; provided , however, that it shall not be a breach of this agreement if Manager' s report is received within three ( 3 ) business days of the 15the Manager shall include in such report a balance sheet , income statement , and other financial reports (such as a departmental expense report and event accounting ) as Owner may reasonably request . Owner may establish a schedule of monthly meetings with Manager at which Manager shall report to the Owner, in addition to other reports at Owner' s discretion , all maintenance performed on capital equipment during the period between monthly meetings . ARTICLE 9 FACILITY CONTRACTS ; TRANSACTIONS WITH AFFILIATES 9 . 1 Existing Contracts . To the extent practical or necessary the Owner shall provide to Manager, on or before the Effective Date , full and complete copies of all Existing Contracts between the prior Facility manager and its contractors . Manager shall