[Code of Federal Regulations]
[Title 24, Volume 1]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR84.52]

[Page 474-475]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
PART 84-- UNIFORM ADMINISTRATIVE REQUIREMENTS FOR GRANTS AND AGREEMENTS WITH INSTITUTIONS OF HIGHER EDUCATION, HOSPITALS, AND OTHER NON-PROFIT ORGANIZATIONS--Table of Contents
 
                   Subpart C--Post-Award Requirements
 
Sec. 84.52  Financial reporting.

    (a) The following forms or such other forms as may be approved by 
OMB are authorized for obtaining financial information from recipients.
    (1) SF-269 or SF-269A, Financial Status Report.
    (i) HUD requires recipients to use the SF-269 or SF-269A to report 
the status of funds for all nonconstruction projects or programs. HUD 
has the option of not requiring the SF-269 or SF-269A when the SF-270, 
Request for Advance or Reimbursement, or SF-272, Report of Federal Cash 
Transactions, is determined to provide adequate information to meet its 
needs, except that a final SF-269 or SF-269A shall be required at the 
completion of the project when the SF-270 is used only for advances.
    (ii) HUD shall prescribe whether the report shall be on a cash or 
accrual basis. If HUD requires accrual information and the recipient's 
accounting records are not normally kept on the accrual basis, the 
recipient shall not be required to convert its accounting system, but 
shall develop such accrual information through best estimates based on 
an analysis of the documentation on hand.
    (iii) HUD shall determine the frequency of the Financial Status 
Report for each project or program, considering the size and complexity 
of the particular project or program. However, the report shall not be 
required more frequently than quarterly or less frequently than 
annually. A final report shall be required at the completion of the 
agreement.
    (iv) HUD requires recipients to submit the SF-269 or SF-269A (an 
original

[[Page 475]]

and no more than two copies) no later than 30 days after the end of each 
specified reporting period for quarterly and semi-annual reports, and 90 
calendar days for annual and final reports. Extensions of reporting due 
dates may be approved by HUD upon request of the recipient.
    (2) SF-272, Report of Federal Cash Transactions.
    (i) When funds are advanced to recipients HUD shall require each 
recipient to submit the SF-272 and, when necessary, its continuation 
sheet, SF-272a. HUD shall use this report to monitor cash advanced to 
recipients and to obtain disbursement information for each agreement 
with the recipients.
    (ii) HUD may require forecasts of Federal cash requirements in the 
``Remarks'' section of the report.
    (iii) When practical and deemed necessary, HUD may require 
recipients to report in the ``Remarks'' section the amount of cash 
advances received and retained in excess of three days. Recipients shall 
provide short narrative explanations of actions taken to reduce the 
excess balances.
    (iv) Recipients shall be required to submit not more than the 
original and two copies of the SF-272 15 calendar days following the end 
of each quarter. HUD may require a monthly report from those recipients 
receiving advances totaling $1 million or more per year.
    (v) HUD may waive the requirement for submission of the SF-272 for 
any one of the following reasons:
    (A) When monthly advances do not exceed $25,000 per recipient, 
provided that such advances are monitored through other forms contained 
in this section;
    (B) If, in HUD's opinion, the recipient's accounting controls are 
adequate to minimize excessive Federal advances; or
    (C) When the electronic payment mechanisms provide adequate data.
    (b) When HUD needs additional information or more frequent reports, 
the following shall be observed.
    (1) When additional information is needed to comply with legislative 
requirements, HUD shall issue instructions to require recipients to 
submit such information under the ``Remarks'' section of the reports.
    (2) When HUD determines that a recipient's accounting system does 
not meet the standards in Sec. 84.21, additional pertinent information 
to further monitor awards may be obtained upon written notice to the 
recipient until such time as the system is brought up to standard. HUD, 
in obtaining this information, shall comply with report clearance 
requirements of 5 CFR part 1320.
    (3) HUD will shade out any line item on any report if not necessary.
    (4) HUD may accept the identical information from the recipients in 
machine readable format or computer printouts or electronic outputs in 
lieu of prescribed formats.
    (5) HUD may provide computer or electronic outputs to recipients 
when such expedites or contributes to the accuracy of reporting.