(A) Audit of cost or pricing data. All town contracts shall contain a clause setting forth the town’s right at reasonable times and places to audit the books and records of any contractor or subcontractor whereby costs and pricing data are required and submitted to the extent that such books and records relate to such cost or pricing data. The contract shall further set forth that the contractor or subcontractor who receives a contract, change order or contract modification for which cost or pricing data is required shall maintain such books and records that relate to such cost or pricing data for a period of three years from the date of final payment under the contract, unless a shorter period is otherwise authorized in writing; provided, however, that such records shall be retained for additional periods of time beyond this three-year period upon special request by the town.
(B) Contract audit. The town shall be entitled to audit the books and records of a contractor or any subcontractor under any negotiated contract or subcontract to the extent that such books and records relate to the performance of such contract or subcontract. Such books and records shall be maintained by the contractor for a period of three years from the date of final payment under the prime contract and by the subcontractor for a period of three years from the date of final payment under the subcontract, unless a shorter period is otherwise authorized in writing.
(Ord. 001-3, passed 3-1-2001)