SECTION 330:75-7-4. Recipient responsibilities

  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.

(9)   Complying with all applicable federal requirements.

[Source: Added at 33 Ok Reg 559, eff 6-21-16 (emergency); Added at 34 Ok Reg 1397, eff 9-11-17]