Who must certify the financial statements submitted by a City Wide franchisee?

According to City Wide's 2025 Franchise Disclosure Document, the chief executive officer and chief financial officer of the franchisee are responsible for certifying the accuracy of the financial statements submitted to City Wide. These statements include monthly and quarterly profit and loss statements and balance sheets, as well as annual statements of income and retained earnings, statements of changes in financial position, and balance sheets.

Specifically, the financial statements must be prepared in accordance with generally accepted financial principles. The franchisee must provide monthly statements by the 15th day of the following month, quarterly statements within 30 days after each quarter ends, and annual statements within 90 days after the end of each fiscal year. Each statement must be itemized by revenue-producing activity as specified by City Wide, and include gross sales for the preceding month, along with any other information City Wide may require.

In addition to these regular submissions, City Wide can request a financial statement from the franchisee or any guarantor of the agreement, which must be certified as correct and current. This certified statement must be in a form satisfactory to City Wide and fairly represent the total assets and liabilities of the franchisee and any guarantors. City Wide also retains the right to audit the franchisee's business records and can require the franchisee to submit annual audited or reviewed financial statements.