[Code of Federal Regulations]

[Title 24, Volume 1]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR84.52]



[Page 497-498]

 

                 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 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.



[[Page 498]]



    (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.