Florida Regulations 67-37.008: Local Housing Assistance Trust Fund
Current as of: 2024 | Check for updates
|
Other versions
(1) Amounts on deposit in each local housing assistance trust fund shall be invested as permitted by law for the local housing distribution funds of the applicable local government(s). All investment earnings shall be retained in such fund and used for the purposes thereof.
(2) The local housing assistance trust fund for all local governments including interlocal entities shall be separately stated as a special revenue fund in a county’s or eligible municipality’s audited financial statements. Electronic of such audited financial statements or a hyperlink to the webiste where the report is posted shall be transmitted annually to the Corporation no later than June 30th of the following state fiscal year. In addition to providing audited financial statements, all participating jurisdictions must provide evidence of compliance with the Florida Single Audit Act, as referenced in Sections 215.97(7) and (8), F.S.
(3) All Expended funds reported on the SHIP Annual Report shall be reconciled to the general ledger for each State fiscal year prior to submission of the SHIP Annual Report.
(4) In addition to the Annual Report requirements outlined in Florida Statutes § 420.9075(10), local governments shall submit information required by the Corporation on the Annual Report for:
(a) Foreclosure rates on SHIP loans;
(b) Administrative Expenditures separately stated for the costs of the local government and any Sub-Recipients administering the program;
(c) Total Recaptured Funds and program income separately stated for event type (foreclosure, sale of property, refinance);
(d) Total amount of unexpended funds that will be carried forward to the next SHIP fiscal year;
(e) A list of Sub-Recipients that administer any portion of the SHIP program. The list shall include name of person or organization, business type, a description of the strategies and responsibilities for each sub-recipient or consultant;
(f) Tracking of Persons with Special Needs; and,
(g) Responses to requests for information from the Legislatuure or Governor’s office.
(5) Annual Reports shall be submitted to the Corporation electronically using the SHIP Annual Report system. The SHIP Annual Report system can be accessed at www.floridahousing.org.
(6) Local governments that have had an audit, review or investigation involving SHIP funds shall send the Corporation a copy of any related report within 10 days of the issuance of such report.
Rulemaking Authority Florida Statutes § 420.9072(9). Law Implemented 420.9075(5) FS. History-New 11-26-92, Amended 2-9-94, 1-6-98, Formerly 9I-37.008, Repromulgated 12-26-99, Amended 9-22-03, 1-30-05, 11-5-06, 2-24-08, 11-22-09, 5-23-17.
Terms Used In Florida Regulations 67-37.008
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
(3) All Expended funds reported on the SHIP Annual Report shall be reconciled to the general ledger for each State fiscal year prior to submission of the SHIP Annual Report.
(4) In addition to the Annual Report requirements outlined in Florida Statutes § 420.9075(10), local governments shall submit information required by the Corporation on the Annual Report for:
(a) Foreclosure rates on SHIP loans;
(b) Administrative Expenditures separately stated for the costs of the local government and any Sub-Recipients administering the program;
(c) Total Recaptured Funds and program income separately stated for event type (foreclosure, sale of property, refinance);
(d) Total amount of unexpended funds that will be carried forward to the next SHIP fiscal year;
(e) A list of Sub-Recipients that administer any portion of the SHIP program. The list shall include name of person or organization, business type, a description of the strategies and responsibilities for each sub-recipient or consultant;
(f) Tracking of Persons with Special Needs; and,
(g) Responses to requests for information from the Legislatuure or Governor’s office.
(5) Annual Reports shall be submitted to the Corporation electronically using the SHIP Annual Report system. The SHIP Annual Report system can be accessed at www.floridahousing.org.
(6) Local governments that have had an audit, review or investigation involving SHIP funds shall send the Corporation a copy of any related report within 10 days of the issuance of such report.
Rulemaking Authority Florida Statutes § 420.9072(9). Law Implemented 420.9075(5) FS. History-New 11-26-92, Amended 2-9-94, 1-6-98, Formerly 9I-37.008, Repromulgated 12-26-99, Amended 9-22-03, 1-30-05, 11-5-06, 2-24-08, 11-22-09, 5-23-17.