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<br />10/24/2003 11:52 <br /> <br />5502519102 <br /> <br />RWC CITY CLERK <br /> <br />PAGE 07 <br /> <br />to evaluate the quality, appropriateness and timeliness of services <br /> <br />performed. Contractor shall make available to City, or the public, upon <br />request, a financial statement and analysis setting forth in detail the <br /> <br />manner in which, and the specific purposes for which, the funds paid <br />hereunder were expended to the date of such accounting. In addition to <br /> <br />the foregoing, and in any event, Contractor shall submit to City no later <br />than July 15, 2004, a detailed financial statement and analysis setting <br /> <br />forth the foregoing information. Said statement and analysis may be <br /> <br />combined with the annual narrative report submitted pursuant to <br /> <br />paragraph 6. <br /> <br />Contractor shall submit monthly to City's Housing Coordinator a <br /> <br />Program analysis and progress report documenting Contractor's success <br /> <br />in meeting the Program objectives referenced in paragraph 2. The final <br /> <br />report shall be submitted no later than July 15, 2004. If Contractor fails <br /> <br />to submit such monthly reports on a timely basis, City may withhold <br /> <br />payment of funds hereunder until all such delinquent reports have been <br /> <br />submitted. <br /> <br />Contractor receiving funding in excess of $300,000 shall provide <br /> <br />City with an independent audit of its activities for the term of this <br /> <br />Agreement, conducted in accordance with the Single Audit Act of 1984. <br />OMB Circular A-110 Uniform Requirements for Grants and Other <br /> <br />Agreements and generally accepted auditing standards covering financial <br /> <br />911 112003 <br /> <br />6 <br /> <br />.,,-, -.. -.. T .. <br />