Code of Federal Regulations (Last Updated: May 6, 2024) |
Title 24 - Housing and Urban Development |
Subtitle B - Regulations Relating to 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 |
Subpart A - General |
§ 968.145 - Fiscal closeout.
Latest version.
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(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 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.