Exhibit B - Reporting Requirements.pdf

EXHIBIT B – REPORTING REQUIREMENTS

The following reports shall be provided for each individual five (5) parking locations that comprise the Parking Facilities:

1. Weekly Report

This report shall be submitted to the State by the third business day following the end of each week and shall detail:

• Gross Receipts collected;

• Gross Receipts deposited;

• operational challenges;

• any other issues of significance involving the Parking Facilities or any of the related equipment used in the management or operations of the Parking Facilities.

2. Certified Monthly Statement

Contractor shall furnish to the State, no later than the fifteenth (15th) day of each month a Certified Monthly Statement (“CM Statement”) for each parking facility for the preceding month which shall be certified by Contractor. The CM Statement shall summarize all Gross Receipts by payment type (cash, credit card, etc.) and all disbursements for Operating Expenses listed in the Annual Budget, and net profit for the preceding calendar month and on a year-to-date basis. For comparison purposes, this CM Statement should also include the budgeted amounts and any variance in dollars and percent on a monthly and annual basis between actual and budgeted figures. The Certified Monthly Statement shall, at a minimum, also include the information listed below:

• A complete, detailed reconciliation of daily revenue collections, all deposits made into the State’s parking revenue account(s), and the revenue reported by Contractor, in total, by payment method.

• A complete detailed reconciliation of monthly revenue captured by the revenue control software and the revenue reported by Contractor in A. above, in total, by payment method including explanations of all adjustments made during the month.

• A complete, detailed reconciliation of deposits made by Contractor and the deposits shown on the State’s bank account. This will include a detailed reconciliation of all credit card sale deposits and discounts assessed and those reported to the State.

• A detailed explanation must accompany the CM Statement outlining the reasons for any budget variance in excess of plus or minus five percent (5%).

• Contractor shall submit original invoices and all requested backup with the CM Statement to verify the Reimbursable Operating Expenses incurred before an expense is constituted a Reimbursable Operating Expense. Each CM Statement shall be accompanied by additional supporting documents as the State may from time-to-time request. Any lost, missing or unsupported reimbursable expense which cannot be supported within ten (10) business days after notice from the State shall be disallowed in its entirety.

3. Missing Tickets Report

Contractor shall be fully accountable for each parking ticket issued. A “missing ticket” is defined as a transaction in which either an exception or original parking ticket was processed, however, the exception ticket or the original parking ticket cannot be produced.

Contractor shall also keep an inventory of all tickets that are unused, mutilated or unusable for verification of ticket swapping. Contractor shall use the system to account for all system issued tickets and those who have not been presented for payment. To ensure this accountability, Contractor shall keep up-to-date usage and stock records. On a weekly basis, Contractor shall provide a summary inventory report, accounting for the tickets in storage and in the system. Unaccounted tickets shall be categorized as tickets that were processed in the entrance lanes and not presented at an exit lane. The percentage of missing/unaccounted for tickets shall be included on the Missing Tickets Report. If the percentage of missing tickets is three percent (3%) or more than the total number of tickets issued, the Contractor shall immediately investigate the reason or reasons. The results of the investigation will be contained in the next Missing Ticket Report as will steps taken to remedy the problem(s).

The following reports shall be available, if requested by IDOA, within two (2) business days.

Exception Transactions:

The number of exception transactions, adjustments, and refunds, including non-revenue transactions and exits within the complimentary period recorded in the parking operations for the previous month. Additionally, Contractor shall keep and, upon request from the State, make available to it records of exception transactions by cashier and time of day. The report shall also include a listing of all canceled credit card sales (“chargebacks”).

Financial or Statistical Reports:

Contractor shall also provide State with any other reasonable financial or statistical reports, which the State may request from time to time.

Audits:

The State reserves the right to audit all records relating to the operation of the Parking Facilities, within 48 hours advance notice. If an audit reflects a shortage of funds over three percent (3%), the Contractor shall bear all costs related to and including the audit and shall reimburse the State within thirty (30) days for any shortage. If an audit reflects a shortage of less than three percent (3%), the Contractor shall reimburse that State for any shortage but shall not be responsible for the cost of the audit.