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2) Within three(3)days of the end of each month,the Contractor shall provide <br /> the City with a monthly revenue report that separates the revenue by type of <br /> revenue. <br /> 3) After review of the above items,the City may request additional reports that <br /> detail previous transactions. <br /> b. At the request of Parks,the Contractor shall be available to meet monthly <br /> during the peak golfing season and quarterly during the off-peak golfing season <br /> to discuss financial reports. <br /> 3. Accounting Processes <br /> a. The Contractor will continue to maintain a separate bank account to make <br /> disbursement and receive reimbursements contemplated under this agreement. <br /> This account is to be used exclusively for the Everett courses and disbursements <br /> from this account are to be limited to those associated with the Everett courses. <br /> b. The Contractor may invoice the City for expenditures it has incurred in the <br /> operation of the courses. Such expenditures must be supported by receipts, <br /> checks or other documentation and have been contemplated in the budget <br /> recommendation for the then current operating year. Upon approval of such <br /> expenditures,which approval shall not be unreasonably withheld, the City shall <br /> reimburse the Contractor for such approved expenditures. <br /> c. The Contractor may submit Contractor's invoices electronically,with copies of <br /> applicable vendors' invoices attached and the City agrees to reimburse the <br /> Contractor by warrant. The invoice and supporting documentation must be <br /> submitted to Parks by Tuesday at 10 AM each week. <br /> d. The Contractor shall provide the City with the total amount of the bimonthly <br /> payroll (with supporting timecards and rates of pay and benefits) and any other <br /> backup documentation as may be required by City policies and procedures. <br /> Provided that the Contractor has met the requirements of the foregoing <br /> sentence, as determined by review and approval of the Director, reimbursement <br /> of payroll expenses shall follow the process outlined in Article K.3.d above. <br /> 4. Point of Sale System <br /> a. The Contractor must maintain a Point of Sale system. All point of sale system <br /> equipment and data will be owned by the City. <br /> b. The Point of Sale system shall support both accounting ledgers and reporting <br /> functions. The system must provide for sequential tracking of transaction <br /> numbers and instance closes; multiple-query reporting on financial transactions <br /> and customer activity; database tracking of customer activity; system <br /> 22 <br />