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<br />fl:cords and documents necessary to determine compliance with relevant Federal, State, <br /> <br />and local statutes, rules and regulations, and this Agreement, and to evaluate the quality, <br /> <br />appropriateness and timeliness of services performed. <br /> <br />Contractor shall make available to City, or the public, upon request, a financial <br /> <br />statement and analysis setting forth in detail the manner in which, and the specific <br /> <br />purposes for which, the funds paid hereunder were expended to the date of such <br /> <br />accounting. In addition to the foregoing, and in any event, Contractor shall submit to <br /> <br />City no later than July 15, 2001, a detailed financial statement and analysis setting forth <br /> <br />the foregoing information. <br /> <br />Said statement and analysis may be combined with the <br /> <br />annual narrative report submitted pursuant to paragraph 6. <br /> <br />Contractor shall submit monthly to City's Housing Coordinator a Program <br /> <br />analysis and progress report documenting Contractor's success in meeting the Program <br /> <br />objectives referenced in paragraph 2. The final report shall be submitted no later than <br /> <br />July 15, 2001. If Contractor fails to submit such monthly reports on a timely basis, City <br /> <br />may withhold 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 City with an <br /> <br />independent audit of its activities for the term of this Agreement, conducted in <br /> <br />accordance with the Single Audit Act of 1984, OMB Circular A-llO Uniform <br /> <br />Requirements for Grants and Other Agreements and generally accepted auditing <br /> <br />standards covering financial and compliance audits. Annual audits shall be forwarded to <br /> <br />City within 30 days of completion. <br /> <br />8/15/00 <br /> <br />5 <br />