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Page 18 of ' ' <br /> PART IX <br /> REQUIRED REPORTS <br /> 1. General Reports. The Department reserves the right to require interim <br /> reports to document progress in accomplishing the objectives of this <br /> Agreement. The Recipient shall provide, within 30 calendar days of a <br /> request, such interim reports on progress as may be required by the <br /> Department. <br /> 2. Financial Statements. The Grantee shall provide, at least annually, <br /> information and reports required by the Department, including its balance <br /> sheet, profit and loss statement, and other financial reports which shall <br /> be due within 180 calendar days of the end of the Grantee' s fiscal year. <br /> 3. Third Party Application. Any third party beneficiary which receives a <br /> Loan or Investment or other financial assistance from Program Proceeds <br /> under this Agreement shall prepare an application package for the review <br /> of the Grantee, including a business and financing plan, a working <br /> document that outlines the products, operating parameters, income and <br /> expense projections, and sales and market strategies. The Department may <br /> request a copy of business and financing plan, in special circumstances <br /> as determined by the Department. <br /> 4. Financial Analysis Worksheet. The Grantee shall prepare a financial and <br /> credit analysis worksheet for each third party that the Grantee approves <br /> for funding from Program Proceeds. The worksheet (which shall be in a <br /> form as determined by the Department and shall be provided by the <br /> department) shall include: Grantee agency name, address, and date of <br /> submittal ; name and address of third party and its owner; Project period; <br /> interest rate; hiring schedule; loan use; collateral description and <br /> position; primary lender, amount, and term; etc. <br /> 5. Project Closing Sheet. For each third party beneficiary approved for a <br /> Loan, Investment or other financial assistance from Program Proceeds, the <br /> Grantee shall provide to the Department a Project Closing Sheet (which <br />, shall be in a form as determined by the Department and shall be provided <br /> by the Department) and which shall provide general details about the <br /> Project closing activity. The Project Closing Sheet is due to the <br /> Department five (5) working days after the date of the Project closing. <br /> 6. Expenditure Summary. The Grantee shall provide a record of the Grantee's <br /> obligation and expenditures of the Grant Award to date and its <br /> anticipated needs for funds to make Project expenditures in the next <br /> period. The expenditure summary shall be submitted to the Department <br /> within five working days after any Project closing or at least quarterly. <br /> The Expenditure Summary shall be in a form as determined by the <br /> Department and shall be provided by the Department. <br /> - 18 - <br />