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Monday, June 15, 2009
HUD monitoring of CDBG program completed
Last week’s monitoring review of the city of Middletown’s administration of the federally-funded Community Development Block Grant programs yielded two possible findings.
According to Doug Adkins, community revitalization director, the monitoring review was limited to the 2007 program year as well as a limited review of 2008. A final report will be issued by the U.S. Department of Housing and Urban Development within the next 30 days.
Adkins said the HUD representatives review of the financial management and internal controls indicated that “all transactions for the period were allowable and there were no concerns about our financial management.”
Of the potential findings in the financial review, a report that is now filed electronically, must also be filed in a paper form as required by the federal General Accounting Office. Adkins said a HUD representative told him that many other jurisdictions had quit submitting the paper report when the report was being filed electronically. He said HUD will ask the city to submit paper reports for the past 12 months and each month going forward.
The other finding was that all interest accrued in the Revolving Loan Fund is to be sent back to HUD. The city had been submitting the net interest but HUD believes it should be receiving the gross interest. Adkins said HUD is reviewing the matter to determine who is correct.
Adkins said the HUD representatives told him that there were no issues that would require the federal agency to return to Middletown for a monitoring review next year. He said that Middletown would be going back to a normal review cycle of once every five years.
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