Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 55 - Home Investment Partnerships Program Rules › Subchapter 7 - Program Administration › Section 330:55-7-4 - Awardee responsibilities

Current through Vol. 41, No. 20, July 1, 2024
Including but not limited to the following, an Awardee under
				  the HOME Program shall be responsible for:
(1) Taking all action necessary to enforce
				the terms of the Written Agreement against any private or public participant
				that fails to comply with applicable provisions of the Written Agreement or any
				subcontract or documents resulting from it, and to recover on behalf of OHFA,
				any liabilities that may arise as a result of a breach of the Written Agreement
				by any participant. Nothing in this subsection shall restrict OHFA's right to
				independently enforce the terms of any Written Agreement or any subcontracts or
				documents resulting from it, or to recover any sums that may become due as the
				result of a breach of such Written Agreements or subcontract s.
(2) Complying with all State and federal
				regulations, guidelines, circulars and notices as set forth in the Final Rule,
				these HOME Program Rules, the Action Plan, the Annual HOME Program Application
				Packet, the Written Agreement between the Awardee and OHFA and/or the HOME
				Program Implementation Manual, as well as any other guidance which may be
				released by HUD or OHFA from time to time.
(3) Maintaining records and accounts,
				including, but not limited to, property, personnel, and financial records that
				properly document and account for all Project funds. OHFA may require specific
				types and forms of records. All such records and accounts shall be made
				available upon request by OHFA for the purpose of inspection and use in
				carrying out its responsibilities for administration of the funds.
(4) OHFA may require the Awardee to provide
				special narrative and financial reports related to the elements of a Written
				Agreement in the forms and at such times as may be necessary or required by
				OHFA.
(5) Retaining all books,
				documents, papers, records, and other materials involving all activities and
				transactions related to its Written Agreement for at least three (3) years
				beyond the ending date of the Period of Affordability as specified in the
				Written Agreement and/or as mandated by the HOME Program Regulations. Awardee
				shall, as often as deemed necessary by OHFA, permit authorized representatives
				of OHFA, HUD, and the Comptroller General to have full access to and the right
				to fully examine all such materials. Records may be maintained electronically
				if permitted by HUD.
(6) Promptly
				returning to OHFA, any funds received under its Written Agreement that are not
				obligated as of the final date of the Written Agreement time period. Funds
				shall be obligated only if goods and services have been received as of the
				final date of the Written Agreement time period.
(7) Complying with OHFA's audit policy
				including the single Audit Act of 1984 ( P.L. 98-502,
				31
				U.S.C., 7501 et seq.), as applicable to the
				Awardee or as mandated by OHFA.
(8)
				Providing OHFA timely copies of reports on any audits that include funds
				received from OHFA.
(A) Audits shall be
				performed by a by a licensed public accountant or public accounting firm or a
				certified public accountant or certified public accounting firm.
(B) The audit shall be performed in
				accordance with Government Auditing Standards; Compliance Supplement for Single
				Audits or State and Local Governments; generally accepted auditing standards
				established by the American Institute of Certified Public Accountants; and
				OHFA.