Participating Jurisdictions (PJs) are responsible for managing the day-to-day operations of their HOME Investment Partnerships Programs (HOME) and ensuring that HOME funds are used in keeping with program requirements. The regulations require that the performance of each subrecipient and contractor receiving HOME funds must be reviewed by the PJ as least annually. PJs must also monitor projects throughout the applicable affordability period.
Three primary goals of monitoring are to:
Ensure production and accountability
Ensure compliance with HOME and other Federal requirements
Evaluate organizational and project performance as well as project viability (financial health, development capacity, management capability, etc.)
Effective monitoring is not a one-time event, but an ongoing process of planning, implementation, communication, and follow-up. As a result, a PJ's HOME monitoring activities are most effective when distributed throughout its program year. Monitoring involves many people from inside and outside the agency and requires detailed information, reports, meetings, and documentation. Not only must PJs monitor organizations they have entrusted with HOME funds, but they should also conduct internal monitoring to ensure the local HOME program is being administered correctly.