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2013-148
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2013-148
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Last modified
12/7/2015 11:58:15 AM
Creation date
10/1/2015 5:30:46 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
08/20/2013
Control Number
2013-148
Agenda Item Number
8.AA.
Entity Name
Florida Housing Finance Corporation
Department of Housing and Urban Development
Subject
Home Investment Partnership Program
Alternate Name
HUD
Supplemental fields
SmeadsoftID
12149
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XI . Financial Management <br /> A. Grantees shall establish and maintain a system which assures effective control over and accountability <br /> for all funds used in the HOME Program, and follow the requirements of 24 CFR 85 .20 and OMB <br /> Circular A- 122 or A-87, respectively. <br /> B . Grantees shall certify to the Corporation, in writing, prior to making the first drawdown of funds that <br /> the system proposed for use shall meet the following standards: <br /> 1 . Maintenance of separate accounting records and source documentation for the HOME Program; <br /> 2 . Provision for accurate, current, and complete disclosure of the financial status of the Program; <br /> 3 . Establishment of records of budgets and expenditures for each approved activity; <br /> 4 . Demonstration of the sequence and status of receipts, obligations, disbursements and fund balance; <br /> 5 . Provision of financial status reports in the form acceptable to the Corporation; <br /> 6 . Compliance with the applicable audit requirements (OMB Circular A433 ), and; <br /> 7 . Consistency with generally accepted accounting principles, 24 CFR 85 .20, and OMB Circulars <br /> A-57 or A-87. <br /> C. Grantees shall transfer to the Corporation any unencumbered HOME funds on hand at the time of <br /> expiration of this Agreement, and any accounts receivable attributable to the use of HOME funds, as <br /> required in 24 CFR 92 .503 . <br /> XII . Program Income <br /> The Grantee shall retain any repayment, interest, and any other return on the investment of HOME funds to be used <br /> for additional HOME eligible activities. <br /> XIII . Monitoring and Resorting <br /> A. The Grantee shall monitor the activities of the HOME Program, including those of the contractors and <br /> subcontractors, to ensure that all program requirements are being met. The Grantee shall establish and <br /> maintain a standard procedure for internal monitoring. <br /> B . From time to time, as requested in writing by the Corporation, the Grantee shall submit such data and <br /> other information as the Corporation may require. <br /> C . Failure to report as required or respond to requests for data or information in a timely manner shall be <br /> grounds for suspension or termination of the Grant at the discretion of the Corporation. <br /> XIV . Procurement Procedures <br /> A. The Grantee shall use established procurement procedures, which reflect applicable Federal, State and <br /> local law and regulations (24 CFR 84 .4044.48). <br /> B . These standards do not relieve the Grantee of any contractual responsibilities under its contracts. The <br /> Grantee is responsible, in accordance with good administrative practice and sound business judgment, <br /> for the settlement of all contractual and administrative issues arising out of procurements entered into <br /> support of a grant. These include but are not limited to source evaluation, protests, disputes, and <br /> claims. <br /> Florida Housing Finance Corporation Page 4 (Rev. 09/06) <br /> 67=48 .018(3)(a), F.A.C. <br />
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