(A) The city shall have the right to review or audit the company's books and records in accordance with regularly accepted accounting and audit standards regarding any amounts which may be owed 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 reasonably considered by the city to be subject to a franchise fee. The city shall give written notice to the company of any additional amount claimed to be due to the city as a result of the city's review. The additional amount due the city, if any, shall be paid within 30 days following determination by the city that such amount is due and payable.
(B) The company shall keep complete and accurate books and records of its business and operations pursuant to this franchise ordinance in accordance with generally accepted accounting principles and in accordance with the rules and regulations of any state regulatory authority. The company shall keep its books of account and records in such a way that breakdowns of revenues are available by journal code within the city.
(C) In the event of an audit, the company shall provide the city specific books, records, contracts, accounts, documents and papers for its operations within the city.
(D) All such books, records, and accounts of the company shall be retained by the company for a period of six years, in accordance with § 37-1-3, NMSA 1978. The company shall make such records, as are necessary for the city to complete its audit, and be available for inspection by the city, in the city, upon 30 days notice from the city.
(E) All audits will take place on company premises within the city. The city's auditors may review all directly relevant materials and may make copies of any materials with the approval from the company. Such approval will not be unreasonably withheld.
(F) Upon request by the city, the company shall provide to the city by U.S. mail, postage prepaid, a copy of all papers filed by the company with any federal or state regulatory agency on the same day of filing that pertain to the company's facilities located in New Mexico.
(Ord. 49-1995)