2003/10/29 Council Agenda Packet

7 i) Records demonstrating compliance with flood insurance requirements. 2. Reports The Agency agrees to submit to the County such reports as the County reasonably requests pursuant to the requirements of State or Federal law. As a minimum, the Agency shall submit in a format prescribed by the County, the following: a) Quarterly Reports. Quarterly reports shall be due when requested by the County; shall cover the preceding three month period; and shall indicate progress made in undertaking the HOME activities and provide such financial management information as is required by the County. b) Annual Report. The Agency shall file with the County an annual report in a form approved by the County no later than thirty (30) days after the end of each fiscal year established for the HOME activity. The report shall contain such information as the County may then require, including, but not limited to, the following: (i) The most recent audit of the fiscal condition of the HOME activity is required whenever financial assistance is provided by the County. This includes a financial statement indicating surplus or deficits in operating accounts, a detailed itemized listing of income and expenses, and the amounts of any fiscal reserves. A State Auditor report will meet this requirement. (ii) The households served by the HOME activity, indicating: Each household's annual income, family size, and composition, race, and actual monthly loan payment; Records demonstrating the Agency's efforts to comply with its Fair Housing Marketing and Equal Opportunity Plan; and The number of assisted households with incomes at or below 30 percent of median income, at or below 50 percent of median income, and at or below 80 percent of median income; (iii) A description of any fiscal or policy difficulties related to the operation of the HOME activity consistent with the HOME requirements; (iv) Each such report shall be subject to the approval of the County; 50 9