CA DEPT TRANSPORTATION (2) - 2004

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City of Santa Ana 04-CALHOME-087 Page 3 of 5 EXHIBIT C more signs on the Property stating that it is providing financing for the development. 8. Reportinq Requirements A. During the term of this Agreement, and no later than 30 days after the end of each calendar quarter, the Contractor shall submit to the State a performance report on a form provided by the State. B. During the term of this Agreement, and no later than 30 days after June 30th of each year, the Contractor shall submit, upon request of the State, an annual performance report on a form provided by the State. C. During the term of this Agreement, the State reserves the right to request other forms or reports as may be necessary or required. 9. Audit/Retention and Inspection of Records A. The Contractor shall retain all books and records pertaining to performance of this Agreement for a minimum of three years after the expiration of the Agreement and any and all amendments hereto, or for three years after the conclusion or resolution of any and all audits or litigation relevant to this Agreement, whichever is later. B, The Contractor shall adequately document each transaction to permit the determination, through an audit if requested by the State, of tQe accuracy of the records and the allowability of the expenditures paid in whole or in part, with CalHome funds. If the allowability of an expenditure cannot be determined because records or documentation are inadequate, the questionable expenditure will be disallowed. The Contractor shall reimburse the State for the amount of any disallowed expenditures of the Contractor or its agents or subcontractors, Determination by the State of allowability of any expenditure shall be final. C. The State does not require a routine audit of the Contractor's books; provided, however, the Contractor shall comply with any reasonable demand by the State for an audit of the Contractor's activities related to this Agreement. If the State provides the auditor, the State will pay for the cost of the audit; otherwise, the Contractor shall pay the cost of the audit. D. Contractor agrees that the State or its delegatee will have the right to review, obtain, and copy all records pertaining to performance of this Agreement. Contractor agrees to provide the State or its delegatee with any relevant information requested and shall permit the State or its delegatee access to its premises, upon reasonable notice, during normal business hours for the purpose of interviewing employees and inspecting and copying such books, records, accounts, and other material that may be relevant to a matter under investigation for the purpose of determining compliance with Government Code section 8546.7, Contractor further agrees to maintain such records for a period of three (3) years after final payment under the contract.