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funds hereunder until all such delinquent reports have been submitted . The reports <br /> will include the total number of direct beneficiaries of the Project with demographic <br /> information regarding income, household composition , ethnicity, age and other <br /> data as required by City or the United States Department of Housing and Urban <br /> 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 CDBG/HOME Administrator, submit to City <br /> a copy of the Contractor's Financial Statement and/or Accounting by no later than <br /> the end of the Fiscal Year. The Accounting will be submitted with the final report <br /> referred to in Paragraph 6 . <br /> If Contractor receives funding in excess of Five Hundred Thousand Dollars <br /> ($500,000) from all sources during the subject Fiscal Year, Contractor will provide <br /> City with an independent audit of its activities for the term of this Agreement, <br /> conducted in accordance with OMB Circular A-122 "Cost Principles for Non-Profit <br /> Organizations," OMB Circular A-133, "Audits of States, Local Governments, and <br /> Non-Profit Organizations ," attachments to OMB Circular No . A-110, as set forth in <br /> 24 CFR Part 84 "Grants and Agreements with Institutions Higher Education , <br /> Hospitals , and Other Non-Profit Organizations ," and generally accepted auditing <br /> standards covering financial and compliance audits . Annual audits will be <br /> submitted to City with the final 4th quarter progress report referred to in Paragraph <br /> 6. <br /> 8 . CITY AUDIT; MONITORING . City may audit the records and accounts <br /> of Contractor for the purpose of verifying expenditures by Contractor of funds <br /> ATTY/AGR/2016.265/SAMARITAN HOUSE - COBG <br /> REV: 09-22-16 RL <br /> Page 3of15 <br />