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<br /> 6. ANNUAL REPORT. Contractor will submit a narrative report to City at <br /> the end of the fiscal year describing the activities funded under this Agreement. <br /> The report will include the total number of direct beneficiaries 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 and will be submitted on forms provided by City's Housing <br /> Coordinator. The annual report will be submitted no later than July 15, 2005. <br /> 7. FINANCIAL STATEMENT/ANAL YSIS; MONTHL Y REPORTS AND <br /> INDEPENDENT AUDIT. Contractor will make available to City, or the public, upon <br /> request, a financial statement and analysis setting forth in detail the manner in which, <br /> and the specific purposes for which, the funds paid hereunder were expended to the <br /> date of such accounting. <br /> Contractor will submit monthly to City's Housing Coordinator a Program <br /> analysis and progress report documenting Contractor's success in meeting the <br /> Program objectives referenced in Paragraph 2. The final report shall be <br /> submitted no later than July 15, 2005. If Contractor fails to submit such <br /> monthly reports on a timely basis, City may withhold payment of funds <br /> hereunder until all such delinquent reports have been submitted. <br /> If Contractor receives funding In excess of $300,000, Contractor <br /> provides City with an independent audit of its activities for the term of this <br /> Agreement, conducted in accordance with the Single Audit Act of 1 984, OMB <br /> Circular A- 1 1 0 Uniform Requirements for Grants and Other Agreements and <br /> generally accepted auditing standards covering financial and compliance audits. <br /> Annual audits shall be forwarded to City within 30 days of completion. <br /> CDBG/DJT.cje 3 8/19/2004 <br />