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fully cleared by the Subrecipient within 30 days after receipt by the Subrecipient. <br /> Failure of the Subrecipient to comply with the above audit requirements will <br /> constitute a violation of this contract and may result in the withholding of future <br /> payments. The Subrecipient hereby agrees to have an annual agency audit <br /> conducted if total federal funds received equal $100,000 or more. <br /> C. Reportin�and Pavment Procedures <br /> 1. Budgets <br /> The Subrecipient will adhere to the detailed budget, as revised (if applicable) that <br /> was submitted with the application and attachment to the Agreement infers <br /> acceptance by the City. The City and the Subrecipient may agree to revise the <br /> budget from time to time as mutually agreed, only if it remains in conformance <br /> with City Council's wishes. <br /> 2. Pro�ram Income <br /> The Subrecipient shall report monthly all program income generated by activities <br /> carried out with HPRP funds made available under this Agreement. The use of <br /> program income by the Subrecipient shall comply with the requirements set forth <br /> by the HPRP. By way of further limitations, the Subrecipient may use such <br /> income during the Agreement period for activities permitted under the Agreement <br /> and shall reduce request for additional funds by the amount of any such program <br /> income balances as reported the previous quarter. Any interest earned on cash <br /> advances from the U. S: Treasury is not program income and shall be remitted <br /> promptly to the City. <br /> 3. Payment Procedures <br /> The City will pay to the Subrecipient funds available under this Agreement based <br /> upon information submitted by the Subrecipient and consistent with any approved <br /> budget as long as they were incurred after the Notice to proceed was issued, and <br /> within the fiscal year as noted above. Payments will be made for eligible <br /> expenses actually incurred by the Subrecipient, and not to exceed actual cash <br /> requirements. The only exception is for pre-award costs approved at the time of <br /> the Agreement. In addition, the City reserves the right to liquidate funds available <br /> under this Agreement for costs incurred by the City on behalf of the Subrecipient. <br /> (Exhibit D) <br /> 4. Pro ress Reports <br /> The Subrecipient shall submit regular progress reports to the City in the form and <br /> content as provided by the City on a monthly, quarterly, and annual basis. The <br /> City retains the right to delay or with hold disbursements of payments after duly <br /> notifying the subrecipient in the event that progress reports are not received as <br /> scheduled. Subrecipients are required to submit Quarterly Performance Reports <br /> on outputs and outcomes including information on participants served to date, <br /> „FN�,,,�.,R„���.,,v„�� Page 9 of 28 <br />