Sec. 8-346. - Annual audit.

(a)

Each year the franchisee shall file with the city a financial statement, prepared by a certified accountant, showing in detail the gross annual receipts during the preceding calendar year for franchisee's business in city and other areas serviced by the city. Such audit shall be filed with the mayor's office within 60 days of the end of such calendar year.

(b)

The city shall have the right to inspect the franchisee's records showing the gross receipts from which its franchise payments are computed and the right of audit and recomputation of any and all amounts paid under any franchise issued pursuant hereto.

(Rev. Ords. 1987, § 8-246; Ch. 877, § I, 6-6-23)