[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: 24CFR954.505]



[Page 427-428]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

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

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 954_INDIAN HOME PROGRAM--Table of Contents

 

                    Subpart E_Program Administration

 

Sec.  954.505  Recordkeeping.



    (a) General. Each grantee must establish and maintain sufficient 

records to enable HUD to determine whether the grantee has met the 

requirements of this part. Records must be kept in a manner that 

identifies the source and use of funds for each project.

    (b) Period of record retention. (1) Except as provided in paragraphs 

(b)(2), (b)(3), or (b)(4) of this section, records must be retained for 

three years after closeout of the funds.

    (2) If any litigation, claim, negotiation, audit, or other action 

has been started before the expiration of the regular period specified 

in paragraph (b)(1) of this section, the records must be retained until 

completion of the action and resolution of all issues which arise from 

it, or until the end of the regular period, whichever is later.

    (3) Records regarding project requirements (Sec.  954.400 to Sec.  

954.402) and other federal requirements (Sec.  954.4) that apply for the 

duration of the period of affordability, as well as the written 

agreement and inspection and monitoring reports must be retained for 

three years after the required period of affordability specified in 

Sec.  954.306 or Sec.  954.307, as applicable.

    (4) Records covering displacements and acquisition must be retained 

for at least three years after the date by which all persons displaced 

from the property and all persons whose property is acquired for the 

project have received the final payment to which they are entitled in 

accordance with Sec.  954.4(e).

    (c) Access to records. (1) The grantee must provide citizens, public 

agencies, and other interested parties with reasonable access to 

records, consistent with applicable tribal laws (or State law, which may 

apply if the Indian tribe is not exercising recognized powers of self-

government) regarding privacy and obligations of confidentiality.

    (2) HUD and the Comptroller General of the United States, or any of 

their representatives, have the right of access to any pertinent books, 

documents, papers or other records of the grantees and subgrantees, in 

order to



[[Page 428]]



make audits, examinations, excerpts, and transcripts.



(Approved by the Office of Management and Budget under OMB control 

number 2577-0191)