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adhere to such standards. Contractor shall vedfy that all activities funded <br />hereunder benefit only residents within City's corporate limits. <br /> <br /> 6. Annual Report. Contractor shall submit a narrative report to City <br />annually describing the activities funded under this agreement. Said report <br />shall include the total number of direct beneficiaries with demographic <br />information regarding income, household composition, ethnicity, age, and <br />other data as required by City or the United States Department of Housing and <br />Urban Development and shall be submitted on forms provided by City's <br />Housing Coordinator. <br /> <br /> 7. Financial Statement/Analysis; Monthly Reports; Audit. Contractor <br />shall make available to City, or the public, upon request, a financial statement <br />and analysis setting forth in detail the manner in which, and the specific <br />purposes for which, the funds paid hereunder were expended to the date of <br />such accounting. In addition to the foregoing, and in any event, Contractor shall <br />submit to City no later than July 15, 1998, a detailed financial statement and <br />analysis setting forth the foregoing information. Said statement and analysis <br />may be combined with the annual narrative report submitted pursuant to <br />paragraph 6. <br /> <br /> Contractor shall submit monthly to City's Housing Coordinator a <br /> Program analysis and progress report documenting Contractor's success in <br /> meeting the Program objectives referenced in paragraph 2. The final report <br /> shall be submitted no later than July 15, 1998. If Contractor shall fail to submit <br /> <br /> ~mt-o3~ 3 <br /> G:~shared~Redwood~Cou ncil <br /> FX$:rg <br /> 10/27/97 <br /> <br /> <br />