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annual audit; by-laws; fidelity bond; insurance policy; financial policies; <br />tenant selection policies; and marketing strategy. <br />• An exit conference is held with subrecipient staff to discuss concerns and <br />recommendations and to give the subrecipient agency an opportunity to ask <br />questions or clarify policies, <br />The PJ prepares a draft of the monitoring assessment letter to the <br />subrecipient agency's Director for review. The subrecipient is given the <br />opportunity to make corrections or provide additions[ information. <br />• Formal assessment letter is sent from the PJ to Director and Board <br />Chairperson for the subrecipient. <br />• The subrecipient submits its response to the assessment Letter. <br />In order to facilitate desk-reviews of subrecipients who are nod monitored on-site, <br />subrecipients are required to submit detailed regular reports that describe the <br />progress of their programs, including rates of expenditure, Quakerly report deadlines <br />are. April 15~" Jan-Mar}; July 15t" Apr-June}; Qctober 15~" July--Sept}; and Jan <br />15t" Oct-Dec}. Final reports include a summary of the program's <br />accomplishments-including the actual number of beneficiaries-and a description of <br />how funds were used. In certain situations, such as rental housing development, <br />annual reports due July 15} may be required after the project is completed for the <br />duration of the affordability period. <br />FY 201~.W2012 Action Plan 33 <br />