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Standard concession license agreement with State Parks Office

Standard concession license agreement with State Parks Office

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Format of deal between potential concessionaire and the state.
Format of deal between potential concessionaire and the state.

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Published by: AaronBesecker BuffaloNews on Mar 25, 2014
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06/21/2014

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License X123456

Niagara River Outdoor Recreation

Sample

General Conditions

17

a)

Licensee shall keep books and records of account in accordance with generally
accepted accounting principles and procedures. Licensee shall permit State Parks, the
Office of the State Comptroller, and/or their authorized representatives and consultants to
inspect and audit appropriate books and records at any reasonable time, after giving
Licensee five (5) business days notice of the date and time of such inspection and audit.
Such right of inspection and audit shall exist during the term of this License and for a
period of six (6) years after its expiration or termination. Notwithstanding the
requirement for advance notice with respect to access to Licensee’s books for the
purposes of audit, State Parks reserves the right to conduct periodic “spot” inspections of

the Licensed Premises at any time during business hours for the purpose of conducting
cash counts, health code and regulatory compliance inspections, maintenance inspections,
and quality assurance inspections.

b)

All sales of any nature within the Licensed Premises shall be immediately and
properly recorded using cash registers or point of sale systems, or such other systems as
may be authorized by State Parks, with tamper proof totalizers within each cash register
machine or point of sale system. All such systems shall be provided at the sole cost of
Licensee, and approved as to design and specification by State Parks. No sales of any kind
shall be made without immediate recording of sales on said equipment.

c)

Licensee shall maintain an updated inventory of point of sale units, with a copy
provided to State Parks. Each unit shall have a unique inventory number, readily accessible
by State Parks staff for the purposes of verifying such inventory.

d)

If a point of sale system is used by Licensee, consecutive daily readings shall be
taken from each unit in each sales and tax category, and posted to a daily sales report for
each point of sale location. The daily sales report shall be provided to the Park Director
weekly. No reset of cumulative point of sale data by Licensee shall be permitted. If a
point of sale unit must be repaired, or otherwise removed from the premises, the readings
shall be recorded and verified by State Parks’ personnel both before the equipment leaves
and when it re-enters the Licensed Premises. State Parks reserves the right to audit
register or point of sale readings at any time.

e)

Licensee shall retain original records of all gross receipts and any other related
records and supporting data required for audit of Licensee’s business operation
(hereinafter, collectively, “the Records”). The Records must be kept for the balance of
the calendar year in which they were made and for six (6) additional years thereafter.
Such records and supporting data shall be maintained for ready access at the Licensed
Premises and shall not be removed from the Licensed Premises without the prior written
consent of State Parks. All such records shall be stored in a watertight and/or weather-
tight manner.

f)

For each year of this lease, and not later than 120 calendar days after the close of
its fiscal year, Licensee shall provide State Parks with audited financial statements as
prepared by a Certified Public Accountant (CPA), audited in accordance with Generally

License X123456

Niagara River Outdoor Recreation

Sample

General Conditions

18

Accepted Audit Principles, and Licensee’s federal and state income tax returns covering
the operation of the Licensed Premises for the preceding fiscal year. A full financial
statement is required, of which only the income component, including all subsidiaries,
must be audited and certified by a CPA. The audited financial statements must be in a
format approved by State Parks and, at a minimum, include:

i.

A supplemental schedule of gross receipts, with identification of each type
of receipt (i.e. lodging, catering, restaurant, spa, etc.) in excess of 5% of total
receipts.

ii.

Separate line items in the statement of operations for the following

expense categories:

o License fees paid to State Parks
o Advertising
o Amounts contributed to the State Parks Investment account

iii.

A supplemental schedule of capital improvements made pursuant to the

License.

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