Agmt02 CDBG Center Independence - Laserfiche WebLink

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from, any failure to adhere to such standards. Contractor will verify that all activities funded hereunder benefit only residents within City's corporate limits. 6. MONTHLY REPORTS; ANNUAL REPORT. Contractor will submit to City's Housing Coordinator a monthly Program progress report documenting Contractor's success in meeting the Program objectives referenced in Paragraph 2. The final report will be submitted no later than July 30, 2003. If Contractor fails to submit such monthly reports on a timely basis, City may withhold payment of funds until all such delinquent reports have been submitted. Lack of submission of monthly reports on a timely basis may result in a termination of this Agreement and a loss of funding. Contractor will submit a narrative report to City at the end of the fiscal year describing the activities funded under this Agreement. The narrative report will include 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 will be submitted on forms provided by City's Housing Coordinator. The annual report will be submitted no later than July 30, 2003, together with the fourth quarter Program progress report. 7. FINANCIAL STATEMENT/ANALYSIS; INDEPENDENT AUDIT. Contractor will 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 pursuant to this Agreement were expended to the date of such accounting. In addition, Contractor will submit to City no later than July 30, 2003, a detailed financial statement and analysis setting forth the foregoing information. Said statement will be submitted with the end of the year annual report pursuant to Paragraph 6. If Contractor receives funding in excess of $300,000, they will provide City with an independent audit of its activities for the term of this Agreement, conducted in accordance with the Single Audit Act of 1984, OMB Circular A-110 Uniform 10/8/02 3