24 CFR 84.21 - Standards for financial management systems.

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There is 1 rule appearing in the Federal Register for 24 CFR 84. View below or at eCFR (GPOAccess)
§ 84.21 Standards for financial management systems.
(a) HUD shall require recipients to relate financial data to performance data and develop unit cost information whenever practical.
(b) Recipients' financial management systems shall provide for the following:
(1) Accurate, current and complete disclosure of the financial results of each federally-sponsored project or program in accordance with the reporting requirements set forth in § 84.52. If a recipient maintains its records on other than an accrual basis, the recipient shall not be required to establish an accrual accounting system. These recipients may develop such accrual data for their reports on the basis of an analysis of the documentation on hand.
(2) Records that identify adequately the source and application of funds for federally-sponsored activities. These records shall contain information pertaining to Federal awards, authorizations, obligations, unobligated balances, assets, outlays, income and interest.
(3) Effective control over and accountability for all funds, property and other assets. Recipients shall adequately safeguard all such assets and assure they are used solely for authorized purposes.
(4) Comparison of outlays with budget amounts for each award. Whenever appropriate, financial information should be related to performance and unit cost data.
(5) Written procedures to minimize the time elapsing between the transfer of funds to the recipient from the U.S. Treasury and the issuance or redemption of checks, warrants or payments by other means for program purposes by the recipient. To the extent that the provisions of the Cash Management Improvement Act (CMIA) (Pub. L. 101-453) govern, payment methods of State agencies, instrumentalities, and fiscal agents shall be consistent with CMIA Treasury-State Agreements or the CMIA default procedures codified at 31 CFR part 205, “Withdrawal of Cash from the Treasury for Advances under Federal Grant and Other Programs.”
(6) Written procedures for determining the reasonableness, allocability and allowability of costs in accordance with the provisions of the applicable Federal cost principles and the terms and conditions of the award.
(7) Accounting records including cost accounting records that are supported by source documentation.
(c) Where the Federal Government guarantees or insures the repayment of money borrowed by the recipient, HUD, at its discretion, may require adequate bonding and insurance if the bonding and insurance requirements of the recipient are not deemed adequate to protect the interest of the Federal Government.
(d) HUD may require adequate fidelity bond coverage where the recipient lacks sufficient coverage to protect the Federal Government's interest.
(e) Where bonds are required in the situations described above, the bonds shall be obtained from companies holding certificates of authority as acceptable sureties, as prescribed in 31 CFR part 223, “Surety Companies Doing Business with the United States.”

Title 24 published on 2014-04-01

The following are only the Rules published in the Federal Register after the published date of Title 24.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-12-19; vol. 79 # 244 - Friday, December 19, 2014
    1. 79 FR 75872 - Federal Awarding Agency Regulatory Implementation of Office of Management and Budget's Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
      GPO FDSys XML | Text
      DEPARTMENT OF TREASURY, NATIONAL ENDOWMENT FOR THE ARTS, DEPARTMENT OF TRANSPORTATION, GULF COAST ECOSYSTEM RESTORATION COUNCIL, DEPARTMENT OF HEALTH AND HUMAN SERVICES, EXECUTIVE OFFICE OF THE PRESIDENT, DEPARTMENT OF LABOR, ENVIRONMENTAL PROTECTION AGENCY, INSTITUTE OF MUSEUM AND LIBRARY SERVICES, DEPARTMENT OF DEFENSE, NATIONAL ENDOWMENT FOR THE HUMANITIES, NATIONAL AERONAUTICS AND SPACE ADMINISTRATION, DEPARTMENT OF THE INTERIOR, DEPARTMENT OF COMMERCE, DEPARTMENT OF AGRICULTURE, DEPARTMENT OF ENERGY, DEPARTMENT OF HOMELAND SECURITY, SOCIAL SECURITY ADMINISTRATION, DEPARTMENT OF STATE, DEPARTMENT OF VETERANS AFFAIRS, DEPARTMENT OF EDUCATION, DEPARTMENT OF JUSTICE, SMALL BUSINESS ADMINISTRATION, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, AGENCY FOR INTERNATIONAL DEVELOPMENT, NATIONAL SCIENCE FOUNDATION, CORPORATION FOR NATIONAL AND COMMUNITY SERVICE, NATIONAL ARCHIVES AND RECORDS ADMINISTRATION, Office of National Drug Control Policy, Office of Management and Budget, Commodity Credit Corporation, Rural Business-Cooperative Service, Federal Emergency Management Agency, National Institute of Food and Agriculture, Rural Utilities Service, Rural Housing Service, Office of the Chief Financial Officer, Farm Service Agency
      Interim final rule.
      Effective date: This interim final rule is effective on December 26, 2014. The incorporation by reference of certain publications listed in the rule is approved by the Director of the Federal Register as of December 26, 2014. Implementation dates: For grants authorized under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, this rule is applicable for emergency or major disaster declarations issued on or after December 26, 2014. For non-Federal entities that are nonprofit organizations or institutions of higher education (IHEs), there is a one-year grace period for implementation of the procurement standards in 2 CFR 200.317 through 200.326. As will be detailed in the 2015 OMB Compliance Supplement, non-Federal entities choosing to delay implementation for the procurement standards will need to specify in their documented policies and procedures that they continue to comply with OMB circular A-110 for one additional fiscal year which begins after December 26, 2014. Comment date: To be assured of consideration, comments must be received by OMB electronically through www.regulations.gov no later than midnight Eastern Standard Time (E.S.T.) on February 17, 2015.
      2 CFR Parts 1, 25, 170, 180, and 200

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United States Code
U.S. Code: Title 42 - THE PUBLIC HEALTH AND WELFARE

Title 24 published on 2014-04-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 24 CFR 84 after this date.

  • 2014-12-19; vol. 79 # 244 - Friday, December 19, 2014
    1. 79 FR 75872 - Federal Awarding Agency Regulatory Implementation of Office of Management and Budget's Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
      GPO FDSys XML | Text
      DEPARTMENT OF TREASURY, NATIONAL ENDOWMENT FOR THE ARTS, DEPARTMENT OF TRANSPORTATION, GULF COAST ECOSYSTEM RESTORATION COUNCIL, DEPARTMENT OF HEALTH AND HUMAN SERVICES, EXECUTIVE OFFICE OF THE PRESIDENT, DEPARTMENT OF LABOR, ENVIRONMENTAL PROTECTION AGENCY, INSTITUTE OF MUSEUM AND LIBRARY SERVICES, DEPARTMENT OF DEFENSE, NATIONAL ENDOWMENT FOR THE HUMANITIES, NATIONAL AERONAUTICS AND SPACE ADMINISTRATION, DEPARTMENT OF THE INTERIOR, DEPARTMENT OF COMMERCE, DEPARTMENT OF AGRICULTURE, DEPARTMENT OF ENERGY, DEPARTMENT OF HOMELAND SECURITY, SOCIAL SECURITY ADMINISTRATION, DEPARTMENT OF STATE, DEPARTMENT OF VETERANS AFFAIRS, DEPARTMENT OF EDUCATION, DEPARTMENT OF JUSTICE, SMALL BUSINESS ADMINISTRATION, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, AGENCY FOR INTERNATIONAL DEVELOPMENT, NATIONAL SCIENCE FOUNDATION, CORPORATION FOR NATIONAL AND COMMUNITY SERVICE, NATIONAL ARCHIVES AND RECORDS ADMINISTRATION, Office of National Drug Control Policy, Office of Management and Budget, Commodity Credit Corporation, Rural Business-Cooperative Service, Federal Emergency Management Agency, National Institute of Food and Agriculture, Rural Utilities Service, Rural Housing Service, Office of the Chief Financial Officer, Farm Service Agency
      Interim final rule.
      Effective date: This interim final rule is effective on December 26, 2014. The incorporation by reference of certain publications listed in the rule is approved by the Director of the Federal Register as of December 26, 2014. Implementation dates: For grants authorized under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, this rule is applicable for emergency or major disaster declarations issued on or after December 26, 2014. For non-Federal entities that are nonprofit organizations or institutions of higher education (IHEs), there is a one-year grace period for implementation of the procurement standards in 2 CFR 200.317 through 200.326. As will be detailed in the 2015 OMB Compliance Supplement, non-Federal entities choosing to delay implementation for the procurement standards will need to specify in their documented policies and procedures that they continue to comply with OMB circular A-110 for one additional fiscal year which begins after December 26, 2014. Comment date: To be assured of consideration, comments must be received by OMB electronically through www.regulations.gov no later than midnight Eastern Standard Time (E.S.T.) on February 17, 2015.
      2 CFR Parts 1, 25, 170, 180, and 200