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4370.2 REV-1

REV-1 _____ CHAPTER 2. FINANCIAL OPERATIONS AND ACCOUNTING 2-1. INTRODUCTION This chapter provides a description of the financial operations and accounting requirements of a HUD-insured multifamily project including: maintenance of books and accounts, completeness and accuracy of books and accounts; auditable paper trail, invoices, etc.; treatment of specific transactions such as surplus cash and residual receipts; distribution to owners; cash controls and use of management agreements. 2-2.

plans, offices, apparatus, devices, books, contracts, records, documents, and other papers relating thereto shall at all times be maintained in reasonable condition for proper audit and

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