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REV: 10-27-2022 SK <br />9. CITY AUDIT; MONITORING. City may audit the records and accounts of <br />Subrecipient for the purpose of verifying expenditures by Subrecipient of funds provided <br />by City pursuant to this Agreement or verifying statements or analyses made or provided <br />by Subrecipient under this Agreement. Subrecipient will promptly respond to, and comply <br />with, any audit exception made or taken by City or appropriate federal agencies relating <br />to Subrecipient’s performance or failure to perform under this Agreement. Subrecipient <br />will, upon demand by City, pay City the full amount owing to City or to the United States <br />Government as a result of any such audit exception. <br />City will monitor Subrecipient’s Project and expenditures made pursuant to this <br />Agreement quarterly to verify Subrecipient’s compliance with this Agreement and local <br />and federal contract requirements. Subrecipient will cooperate with City and provide all <br />documents and information requested by City in a timely and accurate fashion. <br />10. DOCUMENTATION AND RECORD-KEEPING. <br />A. Records to be Maintained. The Subrecipient will maintain all records <br />required by the federal regulations specified in 24 CFR Section 570.506, and that are <br />pertinent to the activities to be funded under this Agreement. Such records include, but <br />are not limited to: (i) Records providing a full description of each activity undertaken; (ii) <br />Records demonstrating that each activity undertaken meets a National Objective of the <br />CDBG Program; (iii) Records required to determine the eligibility of activities; (vi) Records <br />required to document the acquisition, improvement, use or disposition of real property <br />acquired or improved with CDBG assistance; (v) Records documenting compliance with <br />the fair housing and equal opportunity component of the CDBG Program; (vi) Financial <br />records as required by 24 CFR Section 570.502, and OMB Circular A-110; or (vii) Other <br />records necessary to document compliance with Subpart K of 24 CFR Part 570. <br />B. Retention. The Subrecipient will retain all records pertinent to <br />expenditures incurred under this Agreement for a period of four (4) years after the <br />termination of all activities funded under this Agreement, or after the resolution of all <br />federal audit findings, whichever occurs later. Records for non-expendable property <br />ATTY/AGR.2022.383/CIID (Page 5 of 20)