[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

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

[CITE: 24CFR902.33]



[Page 271]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 902_PUBLIC HOUSING ASSESSMENT SYSTEM--Table of Contents

 

            Subpart C_PHAS Indicator #2: Financial Condition

 

Sec.  902.33  Financial reporting requirements.



    (a) Annual financial report. All PHAs must submit their unaudited 

and audited financial data to HUD on an annual basis. The financial 

information must be:

    (1) Prepared in accordance with Generally Accepted Accounting 

Principles (GAAP) as further defined by HUD in supplementary guidance; 

and

    (2) Submitted electronically in the format prescribed by HUD using 

the Financial Data Schedule (FDS).

    (b) Annual financial report filing dates. The unaudited financial 

information to be submitted to HUD in accordance with paragraph (a) of 

this section, must be submitted to HUD annually, no later than two 

months after the end of the PHA's fiscal year end, with no penalty 

applying until the 16th day of the third month after the PHA's fiscal 

year end in accordance with Uniform Financial Reporting Standards (see 

24 CFR part 5, subpart H). An automatic one month extension will be 

granted for PHAs with fiscal years ending September 30, 1999 through 

June 30, 2000.

    (c) Reporting compliance dates. The requirement for compliance with 

the financial reporting requirements of this section begins with PHAs 

with fiscal years ending on and after September 30, 1999. Unaudited 

financial statements will be required two months after the PHA's fiscal 

year end, and audited financial statements will be required no later 

than 9 months after the PHA's fiscal year end, in accordance with the 

Single Audit Act and OMB Circular A-133 (see 24 CFR 84.26).



[65 FR 1738, Jan. 11, 2000, as amended at 68 FR 37671, June 24, 2003]