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its staff shall also obtain and maintain all required licenses, <br />registrations, accreditation and inspections from all agencies <br />governing SUBRECIPIENT's operations hereunder. <br />D. All funds received by SUBRECIPIENT from CITY <br />pursuant to this agreement shall be separately accounted for apart <br />from any other funds of SUBRECIPIENT, or of any principal .or .member <br />Of SUBRECIPIENT. <br />SUBRECIPIENT agrees that if SUBRECIPIENT receives Twenty - <br />Five Thousand Dollars ($25,000) or more in CDBG funds under the <br />terms of agreement, SUBRECIPIENT shall have an annual audit <br />conducted by a certified public accountant in accordance with the <br />standards set forth in Circular A-110, published by the United <br />States Office of Management and Budget. SUBRECIPIENT shall provide <br />CITY with a copy of said audit by October 1 of the year following <br />the program year in which this agreement is executed. <br />E. SUBRECIPIENT shall keep records of all funds <br />received from CITY under the terms and conditions of this agreement <br />in accordance with the procedures set forth in the "Agreement <br />Accounting and Administrative Handbook" of CITY, a copy of which <br />shall be provided to SUBRECIPIENT by CITY. <br />SUBRECIPIENT agrees to keep monthly records of all ethnic <br />and racial statistics of persons and families benefitted by <br />SUBRECIPIENT in the performance of its obligations under this <br />agreement, including, but not limited to, the number of low and <br />moderate income persons and households assisted in accordance with <br />federal income limits, number of female heads of households, and <br />Page 3 of 21 Pages <br />