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CDBG-DR grantees must ensure their financial management systems are in compliance with local, state and federal requirements. This involves updating existing financial policies, and oftentimes developing new policies. To prevent misspending or mishandling CDBG-DR funding, it’s important that grantees review their existing financial management policies or develop new policies and standard operating procedures (SOPs) before spending any funds.

For example, grantees must develop SOPs to ensure timely expenditure of funding, to maintain records that are accessible for HUD monitoring, and to ensure that expenses and payments adhere to federal cost principles as outlined in 2 CFR 200.400 to 200.475.

This document outlines all pre-award, planning/program design and operations tasks, in addition to reporting, compliance, monitoring and closeout tasks required to maintain compliance with CDBG-DR financial management rules and regulations.

 CDBG-DR Grants Management