Source: http://test.jurist.org/documents/rulemaking/2015-19342.php
Timestamp: 2019-05-25 00:56:44
Document Index: 305240141

Matched Legal Cases: ['art 3560', 'ART 3560', 'art 3560', '§ 3560', '§ 3560', '§ 3560', '§ 3560', '§ 3560', '§ 3560', '§ 3560', '§ 3560', '§ 3560', '§ 3560']

JURIST - Multi-Family Housing Program Requirements To Reduce Financial Reporting Requirements
Unfunded Mandate Reform Act (UMRA) Back to Top
The information collection requirements contained in this regulation have been approved by OMB and have been assigned OMB control number 0575-0189. This proposed rule contains no new reporting or recordkeeping requirements that would require approval under the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35).
In addition to the changes in the annual reporting requirements outlined herein, the Agency is proposing two additional certifications to the Performance Standards required under 7 CFR 3560.308(c). The borrower will be asked to certify there have been no changes in project ownership other than those approved by the Agency and identified in the certification; and that, real estate taxes are paid in accordance with state and/or local requirements and are current.
List of Subjects in 7 CFR Part 3560 Back to Top
PART 3560—DIRECT MULTI-FAMILY HOUSING LOANS AND GRANTS Back to Top
1.The authority citation for Part 3560 continues to read as follows:
2.Amend § 3560.11 by removing the definition of “Engagement”.
Subpart G—Financial Management Back to Top
3.Section 3560.301 is revised to read as follows:
§ 3560.301 General.
4.Amend § 3560.302 by revising paragraphs (a), (b)(1) and (2), and (e)(1) to read as follows:
§ 3560.302 Accounting, bookkeeping, budgeting, and financial management systems.
(1) Borrowers may use a cash, accrual, or modified accrual method of accounting, bookkeeping, and budget preparations as long as they are prepared in accordance with the standards identified in § 3560.308.
5.Amend § 3560.303 by revising paragraph (b)(1)(vi)(Q) to read as follows:
§ 3560.303 Housing project budgets.
(Q) Professional service contracts (audits, owner-certified submissions in accordance with § 3560.302(a)(2), tax returns, energy audits, utility allowances, architectural, construction, rehabilitation and inspection contracts, etc.)
6.Amend § 3560.308 by:
§ 3560.308 Annual financial reports.
Citation: 80 FR 46853
agency:Rural Housing Service citation:80 FR 46853 comments_close:2015-10-05 date: docnum:2015-19342 effective_date: html:https://www.federalregister.gov/articles/2015/08/06/2015-19342/multi-family-housing-program-requirements-to-reduce-financial-reporting-requirements pdf:http://www.gpo.gov/fdsys/pkg/FR-2015-08-06/pdf/2015-19342.pdf