[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: 24CFR906.33]



[Page 360-361]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

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

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 906_PUBLIC HOUSING HOMEOWNERSHIP PROGRAMS--Table of Contents

 

                    Subpart D_Program Administration

 

Sec.  906.33  Reporting and recordkeeping requirements.



    The PHA is responsible for the maintenance of records (including 

sale and



[[Page 361]]



financial records) for all activities incident to implementation of the 

HUD-approved homeownership program. Where a PRE is responsible for the 

sale of units, the PHA must ensure that the PRE's responsibilities 

include proper recordkeeping and accountability to the PHA, sufficient 

to enable the PHA to monitor compliance with the approved homeownership 

program and to meet its audit responsibilities. All books and records 

must be subject to inspection and audit by HUD and the General 

Accounting Office (GAO). The PHA must report annually to HUD on the 

progress of each program approved under this part. The PHA must report 

as part of the Annual Plan process under Sec.  903.7(k) of this title, 

except for those PHAs under Sec. Sec.  903.11(c)(1) and (2) of this 

title who are not required to include information on their public 

housing homeownership programs in their Annual Plan. Those PHAs must 

report by providing a description of the homeownership program to HUD, 

including the cumulative number of units sold.