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income, household composition, ethnicity, age and other data as required by City <br /> or the United States Department of Housing and Urban Development. <br /> 7. FINANCIAL STATEMENT/ANALYSIS; INDEPENDENT AUDIT. <br /> Contractor will, upon request, make available to City or the public a financial <br /> statement and analysis ("Accounting") setting forth in detail the manner in which, <br /> and the specific purposes for which, the funds paid by Contractor pursuant to this <br /> Agreement were expended up to the date of such Accounting. Contractor will, <br /> upon reasonable written request by the CDBGIHOME Administrator, submit to <br /> City a copy of the Contractor's Financial Statement and/or Accounting by no later <br /> than the end of the Fiscal Year. The Accounting will be submitted with the final <br /> report referred to in Paragraph 6. <br /> If Contractor receives funding in excess of Five Hundred Thousand <br /> Dollars ($500,000)from all sources during the subject Fiscal Year, Contractor will <br /> provide City with an independent audit of its activities for the term of this <br /> Agreement, conducted in accordance with OMB Circular A-122 "Cost Principles <br /> for Non-Profit Organizations," OMB Circular A-133, "Audits of States, Local <br /> Governments, and Non-Profit Organizations," attachments to OMB Circular No. <br /> A-110, as set forth in 24 CFR Part 84 "Grants and Agreements with Institutions <br /> Higher Education, Hospitals, and Other Non-Profit Organizations," and generally <br /> accepted auditing standards covering financial and compliance audits. Annual <br /> audits will be submitted to City with the final 4th quarter progress report referred <br /> to in Paragraph 6. <br /> 8. CITY AUDIT: MONITORING. City may audit the records and <br /> accounts of Contractor for the purpose of verifying expenditures by Contractor of <br /> funds provided by City pursuant to this Agreement or verifying statements or <br /> analyses made or provided by Contractor under this Agreement. Contractor will <br /> promptly respond to, and comply with, any audit exception made or taken by City <br /> REV:02-05-15 VR <br /> Page 4 of 33 <br /> ATTY/AGR.2015.025/Habitat for Humanity GSF Jefferson Site Acquisition <br />