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6.1.E. - Page 116 <br /> Paragraph 2. The reports will be submitted quarterfy by the 15th day of the manth <br /> electronically to the website specified by City's CDBG/HOME Program. The final <br /> report will be submitted r�o later than June 15, 2013, If Contractar fails to submit <br /> such quarterly reports or� a timely basis, City may withhold paym�nt of funds <br /> hereun�er until all sucF� delinquent reports have been submitted, The reports will <br /> include the total number of direct beneficiari�s of the F'roject with demographic <br /> information regarding income, household composition, ethnicity, age and other <br /> da#a as require� by Ci#y or t�e United 5tates Department of Housing and Urban <br /> Devefopment. <br /> 7. FINANCiAL STATEMENTIANALYSIS; lNDEPENDENT AUDIT. <br /> Contractar will make ava�lable to City, or #he public, upon request, a financial <br /> statement and analysis (t�e "Accounting") se#ting forth in detail the manner in <br /> which, and the specific purposes for which, the funds paid by Contractor <br /> pursuant to this Agreement were expended ta th� date of such Accounting. In <br /> addition to the foregoing, Contractor will submit tn City no later than the end of <br /> the Fiscal Year, and upon reasonable writtEn request by the CDBG/HQM� <br /> Administratar, a copy of the Cantractor's Financial 5tatement andlor Accaunting. <br /> The Accounting wiil be submitte� with the fina! r�port referred ta in Paragraph 6. <br /> If Contractor receives funding in excess of Five Hundred Thousand Dollars <br /> ($500,000) from all sources during the subject Fiscaf Year, Contractor wilf <br /> provide City with an independent audit of its activities for the term of this <br /> Agreement, conducted in accordance with the Single Audit Act of 1984, as <br /> amended, OMB Circular A-110 Uniform Requirements for Grants and Other <br /> Agreements, as amended, and generally accepted auditing standards covering <br /> financia! and camplianc� audits. Annual audits will be submitt�d ta City with the <br /> final 4th quar�er progress report referred to in Paragraph 6. <br /> ATTYIAGR12012.1281CDBG REDWOOD CITY ENTREPRENEURSHIP TRAINING PROGRAM <br /> I�EV:09-06-12 VR <br /> Page 3 pf 15 <br />