All definitions set forth in the Contract to which this Appendix B is attached shall have the same meaning herein unless otherwise defined or the context otherwise requires. In addition, the following defined terms listed below shall have the following corresponding meanings for purposes of this Appendix B. The singular shall include the plural and vice versa as the context may dictate. The gender used in this Scope of Services shall be deemed to refer to the masculine, feminine, or neuter gender, as the context or the identity of the persons being referred to may require. The captions in this Scope of Services are inserted for convenience of reference only and in no way define, describe or limit the scope or intent of this Scope of Services or any of the provisions hereof. “Audit” shall mean audits done in accordance with GAGAS resulting in the expression of an opinion. “Form 990” shall mean the United States Internal Revenue Services form titled "Return of Organization Exempt From Income Tax" which is submitted by tax-exempt organizations and non-profit organizations to provide the Internal Revenue Service with annual financial information. “GAAP” shall mean Generally Accepted Accounting Principals. “GAGAS” shall mean the Generally Accepted Government Auditing Standards. “Public Purpose Fund” shall mean the restricted use fund derived from rent revenue of a certain property. These funds are only to be used for public historic preservation, park or recreational purposes. “Management Letter” shall mean the document prepared by the Auditor in conjunction with its annual Audit. “OPEB Trust” shall mean an irrevocable trust designed to provide benefits to a certain group of retirees of the Corporation and may not be diverted to other uses until the obliation has been satisfied. The Trust can be invested in a variety of investment vehciles, with the goal of generating sufficient cash flow to meet benefit obligations as they come due. 1. Services to be provided under the NYCEDC Contract No. 115430001: 1.1 Audits of NYCEDC combined financial statements for the fiscal years ending June 30, 2026; 2027; 2028; 2029 and preparation of the tax related Forms 990 – Return of Organization Exempt from Income Taxes (not filed with the IRS) and CHAR 500 – Annual Filing for Charitable Organizations – for the fiscal years ending June 30, 2026; 2027; 2028; 2029. 1.2 Audits of the Schedule of Investments for fiscal years ending June 30, 2026; 2027; 2028; 2029. 1.3 Audits of the financial statements of a Public Purpose Fund for the fiscal years ending June 30, 2026; 2027; 2028; 2029. 1.4 Auditor shall prepare an annual report utilizing agreed upon procedures to support the completion of National Transit Database forms that are to be submitted to the Federal Transit Administration, or such additional reports at such additional times as needed. 1.5 A Management Letter, if required, for each fiscal year setting forth findings and recommendations. 2. Services to be provided under the IDA Contract No. 115430004: 2.1 Audits of IDA financial statements for the fiscal years ending June 30, 2026; 2027; 2028; 2029. 2.2 Audits of the Schedule of Investments for fiscal years ending June 30, 2026; 2027; 2028; 2029. 2.3 A Management Letter, if required, for each fiscal year setting forth findings and recommendations. 3. Services to be provided under the Build NYC Contract No. 115430003: 3.1 Audits of Build NYC financial statements for the fiscal years ending June 30, 2026; 2027; 2028; 2029. 3.2 Audits of the Schedule of Investments for fiscal years ending June 30, 2026; 2027; 2028; 2029.
