Finding Text
Unless an extension is approved by HUD, a PHA must obligate at least 90 percent of each Capital Fund grant, including formula grants, DDTF, RHF, and natural disaster grants within 24 months of the funds of becoming available to the PHA for obligation. For emergency grants, including Safety and Security Grants the PHA must obligate at least 90 percent within 12 months of the funds becoming available. The funds become available when the HUD executes the ACC Amendment (24 CFR section 905.306).
The Housing Authority did not obligate the funds within the time frame above for CFP Grant Year 2019.
The 2019 CFP grant was not obligated within the 24 month allowable period.
Due to changes in staff the funds were not obligated properly.
The Housing Authority is not incompliance with the CFP grant contract.
The Housing Authority should implement internal controls to ensure all funds are obligated within the correct period of time
Management Agrees