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Are subgrantees required to set up a separate, non-interest-bearing checking account for advances of HPRP funds?

April 26, 2017advances checking account funds hprp separate subgrantees

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Are subgrantees required to set up a separate, non-interest-bearing checking account for advances of HPRP funds?

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No, establishing a separate account is not required. HUD recommends reimbursement as the method of payment. However, when advance payments are used, the funds should be kept in a non-interest-bearing account since any interest earned over $100 would have to be returned …