RES 221299 - Laserfiche WebLink

City of Pleasanton Article 6. Other Related Services and Standards Franchise Agreement with Pleasanton Garbage Service City of Pleasanton Page 87 June 7, 2022 N. Education Plan for Coming Rate Period. The quarterly report that reports on third quarter results 3096 shall include a plan for public education activities for the coming Rate Period in accordance with 3097 Section 5.17.2. 3098 6.3.4 Annual Report Content 3099 The annual report shall be in the form of the quarterly reports and shall provide the same type of 3100 information as required pursuant to Section 6.3.3 of this Agreement, summarized for the preceding four 3101 quarters. In addition, Contractor's, and Related Party Entities', annual financial reports with 3102 corresponding federal tax returns and detailed invoices from Related Party Entities shall be included. The 3103 annual report shall also include a complete inventory of equipment used to provide all services, and a list 3104 of Contractor’s officers and members of its board of directors. 3105 A. Financial Information. Within one hundred and fifty (150) calendar days after the close of 3106 Contractor’s fiscal year, Contractor shall deliver to the City four (4) copies of the audited 3107 consolidated financial statements and profit and loss statements of Contractor for the preceding 3108 fiscal year. Financial statements shall include a supplemental combined schedule showing 3109 Contractor's results of operations, including the specific revenues and expenses in connection with 3110 the operations provided for in this Agreement from others included in such financial statements 3111 (e.g., operations related to the unincorporated area adjacent to the City and schools in the City). 3112 The financial statements and footnotes shall be prepared in accordance with Generally Accepted 3113 Accounting Principles (GAAP) or, with the City’s written approval, the Financial Reporting 3114 Framework for Small and Medium Sized Entities established by the AICPA consistently applied and 3115 fairly reflecting the results of operation and Contractor’s financial condition. Annual financial 3116 statements shall be audited, in accordance with Generally Accepted Auditing Standards (GAAS) by 3117 a Certified Public Accountant (CPA) licensed (in good standing) to practice public accounting in the 3118 State of California as determined by the State of California Department of Consumer Affairs Board 3119 of Accountancy, and that the CPA opinion on Contractor's annual financial statements shall be 3120 unqualified, and shall contain the CPA’s conclusions regarding the Contractor’s accounting policies 3121 and procedures, internal controls, and operating policies. The CPA shall perform an evaluation and, 3122 if necessary, shall cite recommendations for improvement. 3123 B. Related Party Entities. As part of the annual reporting requirement, Contractor shall provide the 3124 City with a copy of the annual financial statements of each Related Party Entity along with a copy of 3125 the federal tax return for the same period and every invoice from each Related Party Entity issued 3126 to Contractor for the prior fiscal year. 3127 Contractor agrees that all financial transactions with all Related Party Entities shall be approved by 3128 the City in advance in writing and disclosed annually (coinciding with Contractor's annual audited 3129 financial statements referred to in Section 6.3.4.A) to the City in a separate disclosure letter to the 3130 City. The standard for the City’s approval shall be market rates for comparable services provided in 3131 good faith by unrelated third parties as mutually determined by the Parties. In the event that the 3132 Parties are unable to reach agreement, the standard for the City’s approval shall be based upon 3133 review of Contractor and Related Party Entity financial statements. This letter shall include, but not 3134 be limited to, the following information: 3135 1. A general description of the nature of each Related Party Entity transaction, or type of 3136 transaction (if many similar transactions exist) shall be provided, as applicable. Such description 3137