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5105 <br />account for receipt, obligation and expenditure of CDBG FUNDS pursuant to applicable OMB <br />Ci rail ar A-110 requi rements <br />H. Audit Report Requirements SUBRECIPIENT agrees that if SUBRECIPIENT <br />receives Three Hundred Thousand Dollars ($300,000.00) or more in federal funds, <br />SU BRECI PI ENT shall have an annual audit conducted by a certified public accountant in <br />accordaicewith the standards asset forth and published by the United States Office of Managernent <br />and Budget. SU BRECI PI ENT shall provide CITY with a copy of said audit by October 1 of the <br />year fol I owi ng the program year in which this Agreement is executed. Further, SU BRECI R ENT <br />shat I amply and/or cause compl i anoe with audit report(s) requi red by c-0 i able provi s ons of Title <br />X "the LBP Regs, <br />I . Record Kggp ng/Reporti nom. SU BRECI PI ENT shat I keep and maintain complete and <br />adequate records and reports to mist Cl TY i n meeti ng and mai nta ni ng its record keep ng <br />respond bi I ities under the CDBG REGS, Title X, and the L BP Regs, i nd udi ng the fol Iowi ng: <br />(1) Records <br />a Documentation evidencing program income requirements in <br />conformity with 24 CFR 570.504(b((2)(i), (ii) and 24 CFR 570.503(b)(3) and 24 <br />CFR 570.208(a) (2) (B) of the i ncome I evel of persons and/or fami I i es parti a pati ng <br />i n or bench ti ng by the SU BRECI PI ENT program. <br />b. Documentati on of the number of persons and/or fami I i es parti ci pati ng <br />i n or benefi ti ng by the SU B RECI PI ENT program. <br />c. Household information shall include number of persons, identification <br />of head of household, raaeâś“ethni city, and i noome verifi cati on. <br />d. Documentation of all CDBG FUNDS received from CITY. <br />a Documentati on of expenses as i dent fi ed i n the Budget Proposal, <br />i nd udi ng evi dente of i ncurri ng the expense, i nvoi ces for goods or cervi ces, copies <br />of any and al l contracts or documented on perta ni ng to costs for subcontractors, <br />pl us a I other i nvoi ces for whi ch CDBG FU N DS were expended, and any payments <br />therefor. <br />f. Any such other related records as CI TY shall reasonably requi re or as <br />required to be maintained pursuant to the CDBG REGS. <br />g. Documentation evidencing compliance with ail applicable provisions <br />of Title X and the LBP Regs, in parti cul a- Subpart K and, as applicable Subpart J <br />and/or Subpart M. <br />(i) Specific documentation, as requi red, evidencing <br />comp) i ance wi th al I appl i cabl a provi si ons of such L BP Regs <br />9 <br />