Laserfiche WebLink
EXHIBIT B <br />PAYMENT SCHEDULE <br />The City shall pay contractor an amount based on a <br />percentage of the new revenue produced for the City.MRC's fee <br />for providing the enhancement audit service is 25%of the new <br />sales/use tax revenue realized by the City as a result of MRC <br />detecting and correcting the related point-of-sale/use <br />distribution error.Said 25%applies to each correction for fund <br />transfers (i.e.,retroactive adjustments for eligible amounts <br />improperly distributed in prior quarters)and the first six <br />consecutive reporting quarters following completion of the audit <br />by MRC and confirmation of corrections by the State Board of <br />Equalization. <br />Sales/use tax audit invoices are submitted quarterly after <br />the city has received the revenue from the correction and <br />quarterly distribution report verifying it.Each invoice is to <br />include the business name,permit number,local allocation amount <br />received by the City and amount due MRC.Invoices are due and <br />payable upon receipt. <br />MRC shall provide the Sales Tax Inquiry System and STARS <br />reports for $1,250 per quarter,payable only after the City has <br />received the Sales Tax Inquiry System,STARS report(s)and <br />sufficient funds to cover the charges from the City's share of <br />new tax revenue produced from MRC's audit service. <br />The total sum stated above shall be the total which City <br />shall pay for the services to be rendered by Contractor pursuant <br />to this Agreement.City shall not pay any additional sum for any <br />expense or cost whatsoever incurred by Contractor in rendering <br />services pursuant to this Agreement. <br />9/26/88 Rev;1/10/90 Rev. <br />2/6/90 Rev.;5/15/92 Rev. <br />Exhibit B <br />Page 1 of 2 <br />784