07-25-2012 Council Agenda - Laserfiche WebLink

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refer to GAAP, as promulgated, defined and interpreted by particular financial boards and agencies, not by Comcast. The NSCC reserves the right to challenge any use of GAAP by Comcast. This settlement provision removes an extremely important and very contentious issue from franchise renewal discussions. • Comcast is required to maintain certain data and records for 3 years from the effective date of the Settlement Agreement that the NSCC may review to determine whether Comcast is properly and accurately allocating bundled service package revenues to cable services. This addresses the "overwriting" issue discovered during the current franchise fee review. • Now and in any renewal franchises, Comcast is required to maintain and provide to the NSCC, upon request, all data, records and documents reasonably related to the calculation and payment of franchise fees. The renewal franchises include language requiring Comcast to make available data, documents and records maintained by affiliates and third parties, which addresses the problem of obtaining data from CSG, if necessary. • Comcast will pay the NSCC's franchise fee review costs, up to $25,000, if an underpayment of 5% or more is discovered. • Comcast will have no less than 20 days to respond to NSCC data requests, unless an extension of time is granted. • Prior to the expiration of the current franchises, Comcast will update and operate its billing system so as to avoid imposing cable service franchise fees on persons and entities that subscribe only to non -cable services. Comcast will provide the NSCC Executive Director with written confirmation of the solution implemented, and any refunds paid to subscribers. This solution will be adopted and will be enforceable in any renewal franchises. • Any violation of the Settlement Agreement shall be deemed a violation of the current franchises and any renewal franchises. Nothing in the Settlement Agreement should be construed to mean Comcast is in compliance with the current franchises, except for those specific issues resolved in the Settlement Agreement. • The parties generally reserve all of their rights, powers, remedies and defenses under the current franchises and applicable laws, and regulations. • Nothing in the Settlement Agreement can be interpreted to mean that Comcast is entitled to renewed cable franchises, and the member cities retain their discretion to grant or deny renewal franchises, and to specify the terms and conditions of' any such franchises. 2 33