Agmt07 HSFA - Friends for Youth, Inc.

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hold City harmless from any failure to provide such activities in accordance with such standard. Contractor shall verify that all activities funded hereunder benefit only residents within City's corporate limits. 6. 6 MONTH PROGRESS REPORT: ANNUAL REPORT. Contractor shall submit to City's Human Services Manager a 6 month program progress report and an annual program report documenting Contractor's success in meeting the Program objectives referenced in paragraph 2. The 6 month progress report is due on January 31,2008 and the annual program report is due on July 31S\ 2008. If Contractor shall fail to submit either of their reports on a timely basis, City may disqualify agency from applying for future funding. Said reports shall also include an expenditure report and the total number of direct beneficiaries with demographic information regarding income, household composition, ethnicity, age and other data as required by City or the United States Department of Housing and Urban Development and shall be submitted on forms provided by City's Human Services Manager. In the event that the Contractor has not expended all of the funds granted, Contractor shall return by check to the City of Redwood City the amount not spent. 7. FINANCIAL STATEMENT/ANALYSIS: AUDIT. Contractor shall make available to City, or the public, upon request, a financial statement and analysis setting forth in detail the manner in which, and the specific purposes for which, the funds paid hereunder were expended to the date of such accounting. In addition to the foregoing, and in any event, Contractor shall submit to City no later than July 31,2008, a copy of the agency or program's financial statement. Said statement will be submitted with the end of the year annual report pursuant to section 6. Contractor shall provide City with a copy of it's most recent independent audit conducted in accordance with the Single Audit Act of 1984, OMS Circular A-110 Uniform Requirements for Grant and Other Agreement and generally accepted auditing standards covering financial and compliance audits. Audit shall be submitted to the City with the end of the year annual report pursuant to section 6. 8. TERMINATION. Either party may terminate this agreement without cause at any time during the term hereof by giving the other party not less than thirty (30) days' prior written notice of such ATTY/AGRJ2007.049 082807 2