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Contract which summarizes the successes or failures of the assisted activity. <br />Additionally, the Agency shall provide statistical data with respect to services provided <br />or persons benefited under this Contract. <br />(3) Nqp q, ?l ndgbj Eq�pcdy. <br />(i) Inventory. The Agency shall keep inventory records, acceptable to the City, on all <br />non -expendable property purchased under this Contract. The Agency shall submit <br />an inventory record of all items at the end of the program year and resubmit it each <br />program year with revisions as necessary. <br />(ii) Insurance and Ma iweiiance. For all non -expendable property purchased under this <br />Contract, the Agency shall maintain sufficient insurance to cover the cost of <br />replacement due to loss by fire, theft, or accidental damage. The Agency shall also <br />be responsible for the maintenance and upkeep of all such property. <br />3. Coo )c at«o�n Nvitla.,.,, �c � y. The City shall provide all available maps, reports, and other data <br />requested by the Agency to accomplish the services which are the subject of this Contract. The <br />Agency shall pay for all articles so supplied. <br />E. Audits and Reviews: <br />1. City and Federal Audits, <br />(a) The City shall require governmental agency and nonprofit agency audits consistent with 2 <br />CFR Part 200 for those agencies that have combined receipts of federal financial assistance <br />totaling Seven Hundred Fifty Thousand Dollars ($750,000) or more in a fiscal year <br />(applicable to fiscal years starting on or after December 26, 2014). However, all agencies <br />receiving any award amount under this contract must submit, at a minimum, a fiscal year <br />end financial statement. Audits / financial statements must be submitted to the City no <br />later than nine (9) months after the end of the agency's fiscal year. <br />(b) The City may make an examination of the Agency's fidelity bonding and fiscal and <br />accounting procedures to determine whether these procedures meet the requirements of <br />this Contract. <br />(c) At any time during normal business hours and as often as the City, HUD and/or the <br />Comptroller General of the United States may deem necessary, there shall be made <br />available to the City, HUD and/or representatives of the Comptroller General for <br />examination all of its records with respect to all matters covered by this Contract. Further, <br />the Agency shall permit the City, HUD, and/or representatives of the Comptroller General <br />to audit, examine and make excerpts of transcripts from such records, and to make audits <br />of all contracts, invoices, materials, payrolls, records of personnel, conditions of <br />employment and other data relating to all matters covered by this Contract. <br />2. Periodi Review. At regular intervals during the term of this Contract the City may conduct <br />reviews of the content and progress of the Agency services. If, as a result of such review, it is <br />the opinion of the City that revisions to the Scope of Services/Program Description are <br />necessary or the methods employed by the Agency are inappropriate, the City may require such <br />revisions by notifying the Agency in writing. Upon receipt of such notification of revision, the <br />Agency shall, within ten (10) days, propose the manner in which such revisions shall be made. <br />The proposed revisions shall be subject to the City's written approval and amendment to this <br />Contract. <br />F. Termination, <br />CDBG Program Contract Page 3 <br />