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month. The final report will be submitted no later than July 15, 2018. If Contractor <br />fails to submit such quarterly reports on a timely basis, City may withhold <br />payment of funds hereunder until all such delinquent reports have been <br />submitted. The reports will include the total number of direct beneficiaries of the <br />Project with demographic information regarding income, household composition, <br />ethnicity, age and other data as required by City or the United States Department <br />of Housing and Urban Development. <br />7. FINANCIAL STATEMENT/ANALYSIS; INDEPENDENT AUDIT. All <br />Contractor records with respect to any matters covered by this Agreement shall <br />be made available to the City and the Comptroller General of the United States <br />or any of their authorized representatives, at any time during normal business <br />hours, as often as deemed necessary, to audit, examine, and make excerpts or <br />transcripts of all relevant data. Any deficiencies noted in audit reports must be <br />fully cleared by the Contractor within 30 days after receipt by the Contractor. <br />Failure of the Contractor to comply with the above audit requirements will <br />constitute a violation of this Agreement and may result in the withholding of future <br />payments. Contractor shall provide City with any audits required by OMB's <br />"Uniform Administrative Requirements, Cost Principles, and Audi Requirements <br />for Federal Awards," codified at 2 CFR Part 200. Annual audits will be submitted <br />to City no later than December 31 of each year. <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 />or appropriate federal agencies relating to Contractor's performance or failure to <br />perform under this Agreement. Contractor will, upon demand by City, pay City <br />REV: 1I-03-1715 <br />Page 3 of 15 <br />ATTY/AGR.2017.247/STARVISTA - CDBG <br />