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HUD/CPD | RIN: 2506-AC39 | Publication ID: Spring 2016 |
Title: Updating Accounting Requirements for the Community Development Block Grants (CDBG) Program (FR-5797) | |
Abstract:
This rule revises the CDBG regulations to align CDBG accounting methods to the grant accounting system specified in HUD’s handbook on CDBG grants. The rule requires grantees, beginning with fiscal year 2015 grants, to track their obligations and expenditures of funds for each specific grant year. This rule makes the necessary regulatory changes to conform to the grant accounting system, such as the time periods of affected grants, records retention, and the calculation of the cap on administrative and planning expenses. These changes are necessary to effectively implement the accounting changes. |
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Agency: Department of Housing and Urban Development(HUD) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 24 CFR 91 24 CFR 570 | |
Legal Authority: Cranston-Gonzalez National Affordable Housing Act 42 U.S.C. 3535 42 U.S.C. 3601-3619 42 U.S.C. 5301-5315 42 U.S.C. 11331-11388 42 U.S.C. 12701-12711 42 U.S.C. 12741-12756 42 U.S.C. 12901-12912 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: Local, State |
Small Entities Affected: No | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Stanley Gimont Director, Office of Block Grant Assistance, Office of Community Planning and Development Department of Housing and Urban Development Office of the Secretary 451 Seventh Street SW., Room 7286, Washington, DC 20410 Phone:202 708-3587 |