[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: 24CFR968.145]



[Page 508-509]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

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

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 968_PUBLIC HOUSING MODERNIZATION--Table of Contents

 

                            Subpart A_General

 

Sec.  968.145  Fiscal closeout.



    (a) Actual modernization cost certificate (AMCC). Upon expenditure 

by the PHA of all funds, or termination by HUD of the activities funded 

in a modernization program, a PHA shall submit the AMCC, in a form 

prescribed by HUD, to



[[Page 509]]



HUD for review and approval for audit. After audit verification, HUD 

shall approve the AMCC.

    (b) Audit. The audit shall follow the guidelines prescribed in 24 

CFR part 44, Non-Federal Government Audit Requirements. If the pre-audit 

or post-audit AMCC indicates that there are excess funds, a PHA shall 

immediately remit the excess funds as directed by HUD. If the pre-audit 

or post-audit AMCC discloses unauthorized or ineligible expenditures, a 

PHA shall immediately take such corrective actions as HUD may direct.



[61 FR 8741, Mar. 5, 1996]