Multifamily Housing Program Financial Management Toolkit

Knowledge Check – Accounting Records and Source Documentation

Select the appropriate response to complete the statement and then, select the Submit button.

1. Accounting records should include information on grants and authorizations, income, assets, liabilities, sub-recipient contracts and unobligated balances.


2. Source documentation would include all of the following EXCEPT:

A. Bank records for an assisted household
B. Agency vehicle use logs
C. Apartment complex rent schedule
D. An organizational chart

3. One recommendation to improve recordkeeping and internal documentation is to maintain a comprehensive timekeeping and activity tracking system to track staff’s time and activities completed under the HUD grant or contract.