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accounting principles. Such system of accounts shall be <br />subject to review and approval of the City. <br />iii. Document all costs by maintaining complete and accurate <br />records of all financial transactions, including but not <br />limited to contracts, invoices, time cards, cash receipts, <br />vouchers, canceled checks, bank statements and/or other <br />official documentation evidencing in proper detail the nature <br />and propriety of all charges. <br />iv. Submit to the City at such tunes and in such forms as the <br />City may require, such statements, records, reports, data, and <br />information pertaining to matters covered by this <br />Agreement. <br />b. Records of Grantee <br />i. Grantee shall maintain records of all matters related to this <br />Agreement including, but not limited to, books, financial <br />records, supporting documents, statistical records, personnel <br />records, property records, and all other pertinent records <br />sufficient to reflect properly: <br />(A) All direct and indirect costs of whatever nature <br />claimed to have been incurred and anticipated to be <br />incurred in performance of this Agreement. <br />(B) All other matters covered by this Agreement . <br />ii. Grantee shall preserve and make available its records: <br />(A) For the period of three (3) years from the date of <br />expiration or sooner termination of Agreement; or <br />(B) For such longer period, if any, as may be required by <br />applicable law. <br />C. Examination of Records. At any time during normal business <br />hours, and as often as maybe deemed necessary, Grantee agrees that <br />the City, and/or any of its authorized representatives shall have <br />access to and the right to examine its plants, offices, and facilities <br />engaged in performance of this Agreement and all its records with <br />respect to all matters covered by this Agreement. <br />d. Audits. In the event that the City determines, from inspection of <br />records, or any other source, that there is a problem or discrepancy <br />25B-11 <br />