Who is responsible for the electronic submission of required annual financial statement and audit information to REAC, and who is permitted to actually prepare and make the submission?
The project owner is responsible for assuring that the electronic submission is complete, accurate, and timely, in accordance with their regulatory and contractual obligations to HUD. Project owners agree to a “Program Participant’s Use Agreement Regarding Electronic Data Submissions for HUD Programs” when they accept and place into use a systems identification (ID) number for HUD’s Secure Connection System, enabling them to access and submit to FASS and other HUD systems. Project owners can be their own HUD Secure Connection Coordinator or rely on their own staff, management agent, project auditor or other service provider to perform the coordinator function to control access to HUD systems on the owner’s behalf. Likewise, the project owner can be a FASS User for the electronic preparation and/or submission of project data, or authorize other FASS Users, such as their own staff, a management agent, or project auditor, to play a role in the preparation, proofing or submission of data t
Related Questions
- Who is responsible for the electronic submission of required annual financial statement and audit information to REAC, and who is permitted to actually prepare and make the submission?
- Can project owners with more than one HUD project makes one submission of consolidated financial statement and audit information?
- What is the due date for submission of the school administrative unit’s annual audit report to the Department of Education?
