Agenda - Council - 03/08/2011 - Special B&C Interviews

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provided during a billing cycle and to request reimbursement of Convenience/Prepaid Fare revenue. The provider will complete the Convenience Fares Reimbursement Tracking form using electronically generated data from the regional fare data base. In addition: a. The provider will complete the Reimbursement Adjustments form, which is attached hereto as Exhibit B, based on other locally stored data to make adjustments to the total invoice amount. The "Adjusted Invoice Total" found on Exhibit B is equal to the payment request. b. If the "Adjusted Invoice Total" on Exhibit B exceeds the total amount shown at the bottom of Exhibit A by: a. 5.5% for calendar year 2011 b. 4 % for calendar year 2012 c. 3 % for calendar year 2013 d. 2 % for calendar year 2014 and all subsequent years the provider must submit detailed documentation that supports the adjustments listed on Exhibit B. c. Requests for reimbursement by the Provider shall be submitted on a calendar monthly basis. The Provider shall request reimbursement by submitting a Convenience Fares Reimbursement Tracking Form for the applicable billing cycle accompanied by an -invoice. The Provider shall submit the form and an invoice for each billing cycle no later than 90 calendar days after the end of the billing cycle. d. The forms and invoice shall be submitted to the following address or such other address as the Council may designate in writing to the Provider: Metro Transit 560 Sixth Avenue North Minneapolis, MN 55411-4398 Attn: Rich Moore richard.moore@metc.state.mn.us 9. Council Review of Forms and Invoices; Payment. Upon receipt, the Council shall review the Provider's Convenience Fares Reimbursement Tracking Form (Exhibit A), Reimbursement Adjustments (Exhibit B) and the invoice. The Council retains the right to request additional information prior to payment and to withhold payment until proper information is received from the Provider. The Council shall remit the undisputed amount of any invoice to the Provider within 30 calendar days from receipt of the invoice. Undisputed invoices that are not paid by the Council within 30 calendar days from receipt of the invoice are subject to a 1.5% late fee. 10. Maintenance of Records; Audit. The Provider agrees to maintain during the term of this agreement and for six years following such term, records and files related to the reimbursement requests made by the Provider under this agreement including, without limitation, the ridership on which the requested reimbursements are based and all documentation that supports adjustments shown on Exhibit B. During the time of such maintenance, authorized representatives of the Council, the Legislative Auditor, and the State Auditor shall have access to 4