(A) Audit. The city shall have the right to review or audit all books and records of NMUI in accordance with generally accepted accounting and auditing principles regarding any amounts which may be paid under this franchise ordinance. This right includes the right to review and audit all books and records of revenue not included in the calculation of the fee paid, but which may be considered by the city to be subject to a franchise fee. The city shall give written notice to NMUI of any additional amount claimed to be due to the city as a result of any review. The additional amount due, if any, shall be paid within 30 days following determination that such amount is due and payable.
(B) Record keeping. NMUI shall keep complete and accurate books and records of its business and operations pursuant to this franchise in accordance with generally accepted accounting principles. NMUI and city agree that records shall be kept on a city-specific basis for purposes of calculating franchise fees. All such books, records and accounts shall be retained for a period of six years in accordance with § 37-1-3 NMSA 1978. NMUI shall make such records as are necessary to complete an audit available for inspection by the city at its principal place of business upon 30 days notice.
(Ord. 1-1994; Am. Ord. 32-2007)