Agenda - 09-20-2005-9a - Laserfiche WebLink

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~0l05 o Gross Revenues by department sources; o Operating expenses by department; o Departmental income; o Administrative and general expenses; o Marketing, advertising and promotion expenses; o Energy costs; o Repairs and maintenance; o Capital improvements and repairs; and o Gash flow budget • With County's approval, RFP institutes and implements the requisite operating procedures so as to provide the necessary checks and balances for the collection and handling of grass revenues from the operation of the Facility • RFP employs an accounting individual, service or firm approved by County to prepare all financial reports; County may also require the hire of an accounting firm to perform audits with cost of all such accounting, financial reports and audits as Facility Operating Expenses • RFP submit to County, within thirty (30) days after the end of each month, financial reports and such other management reports as County may require for the Facility including a balance sheet and statement of revenues and expenditures (budget to actual) for the current month, year to date and previous year in accordance with generally accepted accounting principles; RFP also provides separate cash receipts and disbursements reports for each event held at the Facility during the month • RFP and the Far.,ility's accounting staff or firm maintain all financial records pertaining to the use and operation of the Facility, and these are available for County inspection at all reasonable times • RFP secures County's prior written approval to: o Enter into any vendor, service or user/rental occupancy contracts for the Facility that have a term longer than one year, or annual expense in excess of $10,000 o Enter into any contracts for the purchase of goods, equipment or services for the Facility that are in excess of $5,000 • County is responsible for all capital improvements and repairs it wishes to make to the Facility; RFP annually provides County with a schedule of items that can be reasonably anticipated as necessary capital expenditures • All routine and minor repairs, maintenance and equipment servicing are the responsibility of RFP as a Facility Operating Expense • RFP obtains approval from County for all repairs and maintenance expenses in excess of $2500, with all necessary minor repairs and improvements to be made to the Facility from funds available in the annual operating budget • Consistent with the approved budget, RFP selects the number, function, qualifications, compensation and benefits of its employees and controls the terms and conditions of their employment; all employee compensation and benefits including payroll, taxes and insurance are Facility operating expenses • The cost of all insurance required to be carried is a Facility Operating Expense