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<br /> adhere to such standards. Contractor shall verify that all activities funded <br /> hereunder benefit only residents within City's corporate limits. <br /> 6. Annual Report. Contractor shall submit a narrative report to City <br /> annually describing the activities funded under this agreement. Said report shall <br /> include the total number of direct beneficiaries with demographic information <br /> regarding income, household composition, ethnicity, age, and other data as <br /> required by City or the United States Department of Housing and Urban <br /> Development and shall be submitted on forms provided by City's Housing <br /> Coordinator. <br /> 7. Financial StatementlAnalvsis: Monthlv Reports: Audit. Contractor <br /> shall make available to City, or the public, upon request, a financial statement <br /> and analysis setting forth in detail the manner in which, and the specific <br /> purposes for which, the funds paid hereunder were expended to the date of such <br /> accounting. In addition to the foregoing, and in any event, Contractor shall <br /> submit to City no later than July 15, 1997, a detailed financial statement and <br /> analysis setting forth the foregoing information. Said statement and analysis <br /> may be combined with the annual narrative report submitted pursuant to <br /> paragraph 6. <br /> Contractor shall 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, 1997. If Contractor shall fail to submit such <br /> Agmt-032 3 <br /> G:\shared\Redwood\Council <br /> FXS:rg <br /> 09/06/96 <br />