will be mutually agreeable between Contractor and the Contract Manager; results of survey
shall be presented to the CTAB; and
14, such other information as the City may reasonably request at least thirty (30) days prior to
report.
E. Annual Financial Statement
No later than the ninetieth (90th) day after the close of the Contractor’s fiscal year, Contractor
shall present to the City a written annual report (the “Annual Financial Report”). The Annual
Financial Report shall present a composite picture of Contractor’s operations for the 12-month
period that constitutes the Contractor’s fiscal year, and shall include: a reviewed or audited
financial statement or tax return for Contractor as prepared for the Internal Revenue Service.
Review or Audit return shall be prepared by the contractors Certified Public Accountant according
to generally accepted accounting principles;
SECTION 5. CITY OBLIGATIONS.
A. Contract Administration. The PEG Program Department, in collaboration with the Purchasing
Manager, shall manage this contract on behalf of the City. The Contract Manager will coordinate
compliance and performance determinations regarding this contract.
B. Liability of City for Funding Under Contract Limited.
1. Notwithstanding any other provision of this contract, the total of all payments to be made to
Contractor under this contract shall not exceed a total of $506,800 through the end of the term,
or such other amount as City Board of Aldermen may approve (“Operating Funds”). Funding
in the amount of $175,000 is pending approval in the FY2023 operating budget of the City’s
PEG public access television account. Upon written agreement, the parties may decide to
extend the contract for additional one-year or alternative terms. The Contractor and the City
each acknowledge and agree that payment of the Operating Funds constitutes full and
satisfactory financial consideration for the performance of all the Contractor’s obligations
under this contract.
2. The Contractor and the City acknowledge and agree that the City’s funding obligations to
Contractor as noted in Section 5.B.1, above, are contingent upon the City’s receipt of payments
according to provisions of a cable franchise agreement negotiated with a local cable service
provider(s). These provisions require the local cable operator to finance PEG access activities
through the payment of “PEG access support grants” and franchise fees, which may be reduced
under or pursuant to state or federal legislation. If for reasons beyond the City’s control, the
City does not receive payments to provide Contractor the Operating Funds agreed upon in this
contract, and necessary for Contractor’s full and complete performance under this contract,
then the City shall notify Contractor in writing no later than the twenty-first (21st) business
day after it becomes aware of such shortfall in funding. In the event of such shortfall, the City
may either reduce the amount allocated (as reasonably prorated) as Operating Funds during the
period of shortfall (and similarly reduce, the manner or cost of Contractor’s services to be
provided hereunder), or either of them may terminate this contract as provided in section 21.
