Transcription of CHAPTER 4: FINANCIAL MANAGEMENT
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HB-2-3560 _____ 4-1 (02-24-05) SPECIAL PN Revised (11-08-19) PN 530 INTRODUCTION Successful projects require sound FINANCIAL MANAGEMENT procedures to track funds, prepare realistic budgets, manage project funds effectively, and report FINANCIAL progress. This CHAPTER covers the borrower s FINANCIAL MANAGEMENT responsibilities and provides guidance to Loan Servicers on monitoring a borrower s FINANCIAL MANAGEMENT performance. The CHAPTER is divided into five sections: Section 1: Project Accounting System describes program requirements and Agency monitoring responsibilities for the project accounting system.
CHAPTER 4: FINANCIAL MANAGEMENT . HB-2-3560 _____ 4-2 • Method of accounting. The borrower is required to use the accrual method of ... and make required contributions to the reserve fund. To assist projects through this phase, the Agency requires the establishment of …
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