04 NCAC 19S .1105           RECORDKEEPING

(a)  The Secretary of the Department of Economic and Community Development, the Secretary of the Department of Housing and Urban Development, or any of their duly authorized representatives, shall have access to all books, accounts, records, reports, files, and other papers or property of recipients or their subgrantees and contractors pertaining to funds provided under this Subchapter for the purpose of making surveys, audits, examinations, excerpts and transcripts.

(b)  All HOME Program records that are public under G.S. 132 shall be made accessible to interested individuals and groups during normal working hours.

(c)  Financial records, supporting documentation and all other reports and records required under this Subchapter, and all other reports pertinent to the HOME Program shall be retained by the recipient for a period of three years from the date of the closeout of the program, except as follows:

(1)           Records must be retained until completion of the action and resolution of all issues arising from any litigation, claim, negotiation, audit or other action, or until the end of the regular period, whichever is later.

(2)           Records regarding project and other federal requirements applicable to housing assisted with HOME funds must be retained for three years after the required period of affordability specified in 24 CFR 92.252 or 92.254, as applicable.

(3)           Records covering displacements and acquisition must be retained for at least three years after the date by which all persons displaced from the property and all persons whose property is acquired for the project have received the final payment to which they are entitled.

(d)  Recipient must establish and maintain sufficient records to enable the Department to determine whether the recipient has met the requirements of 24 CFR 92.508 and all other applicable laws and regulations.  All accounting records shall be supported by source documentation and shall be in compliance with this Subchapter.


History Note:        Authority G.S. 143B‑10; 143B‑431; 24 C.F.R. Part 92;

Eff. November 2, 1992.