Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 75 - National Housing Trust Fund Program › Subchapter 7 - Program Administration › Section 330:75-7-4 - Recipient responsibilities

Current through Vol. 41, No. 20, July 1, 2024
A Recipient under the National Housing Trust Fund 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
				Agreement.
(2) Complying with all
				state and federal regulations, guidelines, circulars and notices as set forth
				in the Interim Rule, these National Housing Trust Fund Program Rules, the
				Written Agreement between the Recipient and OHFA and/or the Implementation
				Manual, or other guidance, circulars and notices that may be released by HUD
				and/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 Recipient 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 five years from the date of submission of
				the final expenditure report or until any audit findings have been resolved,
				whichever is later. Recipient 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.
(6) Promptly returning
				to OHFA, any funds received under its Written Agreement that have not been
				obligated as of the final date of the Written Agreement period. Funds shall be
				obligated only if goods and services have been received as of the final date of
				the Written Agreement period.
(7)
				Complying with OHFA's audit policy as applicable to the Recipient.
(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
				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.