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6.1.E. - Page 235 <br /> Paragraph 2. The reports will be submitted quarterly by the 15th day of the month <br /> electrortically to the website specified by City's CDBGIHOME Pragram. The finaf <br /> report will be submitt�d no later than June 15, 20�3. If Cantractor fails to submit <br /> such quarterly reports on a timely basis, City may withhold payment of funds <br /> hereunder unfil ali such delinqu�nt reports have been submitted. The repor#s will <br /> ir�clude the total number af direct beneficiaries of the Project with derr�agraphic <br /> ir�formation regarding incame, household composition, ethnicity, age and other <br /> data as required by City or the United States Departm�nt of Housir�g and Urban <br /> De�elopment. <br /> 7. FINANCIAL___STATEMENT/ANALYSIS: INDEPENDENT AUDIT. <br /> Cantractor wifl make a�ailable to City, or the public, upon request, a financial <br /> sfatement and analysis (the "Accounting"} setting forth in detail the manner in <br /> which, and the specific purposes for which, the funds paid by Contractor <br /> pursuant ta this Agreement were expended to the date af such Accounting. In <br /> additian to the foregaing, Contractor wi�l submit to City no later than the end of <br /> the Fiscal Year, artd upon reasonable written request by the CDBGIHOME <br /> Administratar, a copy of th� Contractor's �'inancial Statement and/or Accounfiing. <br /> The Accounting will be submitted with the finaf report referr�d to in Paragraph 6. <br /> If Contractor recei�es funding in excess of Five Hundred Thousand Dollars <br /> ($500,000) from afl sources during the subject Fiscal 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 5ingie Audit Act of 1984, as <br /> amended, �MB Circular A-110 Uniform Requirements for Grants and Other <br /> Agreements, as amended, and general�y accepted auditing standards covering <br /> financial and compliance audits. Annual audi#s will be submit#ed to City with the <br /> fi�al 4th quarter progress report referred to in Paragra�h 6. <br /> ATTY/AGR/2012.123/C�BG RE�WOOd FAMILY HDUSE <br /> REV:08-31-12 VR <br /> Page 3 of 15 <br />