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customer receipt for all transactions. As part of its reporting requirements, BCG
<br /> shall provide City with a monthly record of beginning inventory, purchases, and
<br /> ending inventory for the golf shop and food and beverage operations for the
<br /> Facility.
<br /> L. Revenue Collection. BCG will collect all greens fees, membership fees, and
<br /> revenue from retail, food, and beverage operations, and maintain an accurate
<br /> record of all transactions. BCG agrees to follow all cash handling procedures and
<br /> requirements as set forth in the City's Internal Control Manual (Exhibit B). BCG
<br /> will retain financial responsibility for daily over/shorts resulting from cashiering
<br /> errors and omissions. BCG may accept personal checks to the credit of the City
<br /> for green fees, membership fees, pro shop rentals, and pro shop merchandise
<br /> sales, and food and beverage sales. Collection of returned checks will be the sole
<br /> financial and managerial responsibility of BCG. BCG will accept major credit
<br /> cards as payment by customers for green fees, membership fees, pro shop rentals,
<br /> and pro shop merchandise sales, and food and beverage sales. The City will pay
<br /> all handling fees charged by the credit card company.
<br /> M. Cash Register/Point-of-Sale System. BCG will record all receipts derived from
<br /> the operation of the Facility, from whatever source, on cash registers and/or point
<br /> of sale systems capable of recording detailed daily transaction information.
<br /> Original detailed transaction information must be retained for seven (7) years.
<br /> This information shall be shared with the City upon request in both paper and
<br /> electronic formats. The cost of purchasing and maintaining the cash
<br /> register/point-of-sale system shall be the sole responsibility of BCG.
<br /> N. Deposit of Revenues. For the Term of this Agreement all receipts ("Gross
<br /> Revenues") from whatever source (whether in cash, checks, money order, credit
<br /> card or debit card) shall be deposited intact daily by BCG into the City's
<br /> designated Operating Account. Such deposits shall be made daily and no later
<br /> than the close of the following business day at the Facility in accordance with
<br /> procedures prescribed by the City's Internal Control Manual (Exhibit B).
<br /> Deposits shall be collected and deposited using a commercial armored-car service
<br /> paid for by the City. All Gross Revenues deposited in the City's Operating
<br /> Account shall be the sole property of the City. BCG will provide City with a
<br /> daily summary of all receipts deposited into the City's Operating Account. The
<br /> term "Gross Revenues" as used herein shall include the total aggregate amount of
<br /> revenue for the business done, sales made, and services performed in, on, or from
<br /> the Facility, both for cash and on credit, including, without limitation, all charges
<br /> for green fees, practice range fees, membership fees, annual fees or passes,
<br /> lessons, cart (power or pull) and other rentals, the gross amount received for
<br /> merchandise, food and beverage, dues, gift certificate sales, and shall include all
<br /> sums collected by BCG from the Facility's customers for all sales, use, value-
<br /> included, and excise taxes on sales and rental where such taxes are both added to
<br /> the selling price or charge or stated separately, and the gross amount charged from
<br /> all other sources and income derived from activities in, on, or from the Facility.
<br /> O. Taxes and Fees. BCG agrees to pay all federal, state and local taxes together with
<br /> any interest and penalties including leasehold excise tax, sales and use taxes,
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