24 C.F.R. § 92.506
§ 92.506 Audit. (24 CFR Part 92)
Operative Text
Audits of the participating jurisdiction, State recipients, and subrecipients must be conducted in accordance with 2 CFR part 200, subpart F.
Section 92.506 establishes that any participating jurisdiction, State recipient, or subrecipient involved in the HOME Investment Partnerships Program is subject to audit requirements governed by 2 CFR Part 200, Subpart F — the federal uniform guidance on audit standards. This provision ties HOME program participants to a standardized federal audit framework rather than leaving audit procedures to individual discretion. The rule ensures a consistent level of financial accountability across all entities that receive or administer HOME funds.
Plain English — not legal advice.
Property owners and managers who receive HOME funds through a participating jurisdiction or subrecipient should be aware that the entities administering those funds operate under the audit requirements of 24 CFR Part 92, § 92.506. Compliant administrators generally maintain financial records in a manner that supports the single audit process outlined in 2 CFR Part 200, Subpart F. Understanding that your funding source is subject to these federal audit standards can inform how you document expenditures and comply with program requirements.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Tenants living in housing supported by HOME program funds may find it useful to know that § 92.506 requires the agencies and organizations managing those funds to undergo federally standardized audits under 2 CFR Part 200, Subpart F. This audit framework is designed to promote transparency and accountability in how HOME funds are used, which can affect the quality and availability of affordable housing. If you have concerns about how HOME funds are being administered in your housing, tenant-rights organizations or your local HUD field office can be general starting points for understanding available oversight and complaint processes.
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 4, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
Effective Timeline
References Out
No outbound references recorded yet for this provision.
References In
No inbound references recorded yet for this provision.