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Consolidated U.S. Department of Housing <br />and Urban Development <br />Annual.,Contributions Contract Office of Housing <br />Housing Certificate Program and Housing Voucher Program <br />t0 <br />it <br />ACC Part II <br />Contract No. A- 2903 —V <br />2.1. <br />HUD Requirements. <br />B. The notice by HUD to the PHA shall state any reduction, <br />A. <br />The PHA agrees to comply, and shall require owners to <br />pursuant to section 2.3.A of the ACC, in the amount of the <br />comply, with the requirements of the U.S. Housing Act of <br />annual contribution payable for any project or for the <br />1937 and all applicable HUD regulations and other <br />Program, and shall state any reduction in the amount of <br />requirements, including any amendments or changes in the <br />contract authority reserved by HUD for a project. The notice <br />Act or HUD requirements. <br />may specify a revised unit distribution. HUD notice of <br />B. <br />The PHA shall comply with its HUD- approved administrative <br />reduction or revision shall constitute an amendment of the <br />plan, .equal opportunity housing plan and HUD- approved <br />ACC. However, HUD shall not reduce the amount of annual <br />applicatipns for the Programs. <br />contribution payable by HUD for any project or for the <br />Program, and shall not reduce the amount of contract authority <br />C. <br />The PHA shall use the forms required by HUD. <br />reserved by HUD for a project, below the amount, as <br />D. <br />The PHA shall proceed expeditiously with the Programs <br />determined by HUD, necessary for dwelling units under <br />under this ACC. <br />contracts for housing assistance payments with owners on the <br />date when the PHA receives the HUD notice. <br />2.2. Annual Contribution. <br />2.4. Use of Program Receipts. <br />A. The PHA shall submit to HUD each Fiscal Year an estimate of A. <br />the annual contribution required fcc the Programs. The annual <br />contribution estimate, and supporting data for the estimate, <br />shall be submitted at such time and in such form as HUD may <br />require, and are subject to HUD approval and revision. <br />B. The PHA will requisition periodic payments on account of <br />each annual contribution. The requisition shall be in the form <br />prescribed by HUD. Each requisition shall include <br />certification by the PHA that <br />1. Housing assistance payments have been- made in <br />accordance with contracts in the form prescribed by HUD and <br />in accordance with HUD requirements; and <br />2. Units have been inspected by the PHA in accordance <br />with HUD requirements. <br />C. If HUD determines that payments by HUD to the PHA for a <br />Fiscal Year exceed the amount of the annual contribution <br />approved by HUD for the Fiscal Year, the excess shall be <br />applied as determined by HUD. Such applications determined <br />by HUD may include, but are not limited to, application of the <br />excess payment against the amount of the annual contribution <br />for a subsequent Fiscal Year. The PHA shall take any actions <br />required by HUD respecting the excess payment, and shall, <br />upon demand by HUD, promptly remit the excess payment to <br />HUD. <br />.3. Reduction in Annual Contribution <br />Payable by HUD. <br />A. Upon written notice by HUD to the PHA, HUD may reduce to <br />an amount determined by HUD the amount of the annual <br />contribution payable for any project or for the Program, and <br />may reduce to an amount determined by HUD the contract <br />authority reserved by HUD for any project included in the <br />Program, if HUD determines that the PHA has failed to <br />comply with any obligations under the ACC. <br />The PHA shall use Program Receipts to provide decent, safe <br />and sanitary housing for eligible families in compliance with <br />the U.S. Housing Act of 1937 and all HUD requirements. <br />Program Receipts may only be used to pay Program <br />Expenditures. <br />B. The PHA shall not make any Program Expenditures except in <br />accordance with the annual contribution estimate and <br />supporting data for such estimate as approved by HUD. <br />C. The PHA shall maintain an Operating Reserve account that <br />shall be credited with the amount by which the total of <br />administrative fees earned and interest earned on the <br />Operating Reserve exceed PHA administrative expenses <br />during a Fiscal Year. In subsequent years, the PHA must use <br />funds in the Operating Reserve to pay administrative expenses <br />in excess of Program Receipts. Notwithstanding the <br />provisions of section 2.4.A, if there remain funds in the <br />Operating Reserve, the PHA may use such funds for other <br />housing purposes consistent with State and local law. <br />However, HUD may prohibit use of funds in the Operating <br />Reserve for other housing purposes if the PHA is not <br />adequately administering its Housing Certificate Program or <br />its Housing Voucher Program or has failed to comply with any <br />of its obligations under the ACC. <br />2.5. Books of Account and Records; Reports. <br />A. The PHA shall maintain complete and accurate books of <br />account and records for the Program. The books and records <br />shall be in accordance with HUD requirements, and shall <br />permit a speedy and effective audit. <br />B. The PHA shall furnish HUD such financial, operating, and <br />statistical reports, records, statements, and documents at such <br />times, in such form, and accompanied by such supporting data <br />as required by HUD. <br />Page 1 of 3 form HUD- 52520•E (1/90) <br />ref. handbook 7420.3 <br />