§ 29-221. Approval of accounting system.

Except with respect to firm fixed-price contracts, no contract type shall be used unless it has been determined in writing by the purchasing director, the head of a procuring agency, or a designee of either officer that:

(1)

The proposed contractor's accounting system will permit timely development of all necessary cost data in the form required by the specific contract type contemplated; and

(2)

The proposed contractor's accounting system is adequate to allocate costs in accordance with generally accepted accounting principles.

(Ord. No. 64497, § 1(3-402), 6-27-1983)