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Notice CPD-12-012: Submission of Federal Financial Report - Standard Form 425

Date Published: June 2012

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Description

This Notice provides guidance for the Entitlement Communities, Insular Areas, and Non-Entitlement Counties in Hawaii under the Community Development Block Grant (CDBG) program on the submission of the Federal Financial Report (FFR)/Standard Form 425 (SF-425). In accordance with the Notice that the Office of Management and Budget (OMB) published in the Federal Register on August 13, 2008, the Federal Financial Report (FFR)/Standard Form 425 (SF-425) replaced the Federal Cash Transactions Report (SF-272) and Financial Status Report (SF-269) on October 1, 2009. The government-wide reporting requirements applicable to the CDBG program at 24 CFR 85.41 have been updated to incorporate the adoption of the FFR for purposes of reporting expenditures and cash management information.  HUD is in the process of updating CDBG regulations at 24 CFR 570.502(a) to reflect this change. (Note: HUD will revise the Exhibit 3-18 in CPD Monitoring Handbook 6509.2 Rev-6 to accommodate the use of FFR.  For the interim period, answer questions #7a-d and #8 in "Section C: SF 272-Federal Cash Transactions Report" based on the submission of the FFR instead of the SF-272. State CDBG grantees are not required to submit the FFR since this report is based on requirements contained in 24 CFR part 85. The regulations at 24 CFR 85.4(a)(2) stipulate that Subparts A-D of 24 CFR part 85 apply to all grants and subgrants to governments except the block grants authorized by the States’ Program of Community Development Block Grants for Small Cities, among other block programs.  

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Tags: CDBG Entitlement Program CDBG HUD Administered Non-Entitled Counties in Hawaii Program CDBG Insular Areas Program CDBG Program Colonias Set-Aside CDBG State Program IDIS
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