24 C.F.R. § 574.450
§ 574.450 Financial records. (24 CFR Part 574)
Operative Text
The grantee shall agree, and shall ensure that each project sponsor agrees, to maintain and make available to HUD for inspection financial records sufficient, in HUD's determination, to ensure proper accounting and disbursing of amounts received from a grant under this part.
Under 24 CFR Part 574 § 574.450, organizations that receive HOPWA grant funds are required to keep financial records thorough enough to demonstrate proper accounting and disbursement of those funds. HUD retains the authority to inspect these records and to judge whether they are sufficient. This obligation flows not only to the direct grantee but also to any project sponsors involved in carrying out the grant.
Plain English — not legal advice.
While § 574.450 is not a traditional landlord-tenant provision, property owners or managers participating as project sponsors under a HOPWA grant should be aware that compliant operators maintain detailed financial documentation covering all grant-related receipts and expenditures. Grantees are responsible for ensuring that their project sponsors meet this recordkeeping standard, so operators in this role generally keep organized, audit-ready records available for HUD review at any time. Establishing consistent internal bookkeeping practices aligned with HUD's expectations is a hallmark of ongoing compliance under this section.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Tenants receiving housing assistance through a HOPWA-funded program may find it useful to know that § 574.450 requires the organizations managing those funds to keep transparent financial records subject to HUD oversight. If a tenant has concerns about whether grant funds are being properly administered on their behalf, they can contact HUD directly or reach out to a local tenant-rights organization or legal aid office familiar with federal housing programs. Raising questions about financial accountability under this provision is a recognized avenue for seeking oversight of how HOPWA resources are being managed.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated September 3, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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