contract expiration that it wishes to renew the Section 8 contract. Award Procedure: Contract is renewed upon expiration. Deadlines: Owner must notify HUD within 180 days of contract expiration that it intends to renew contract. Range of Approval/Disapproval Time: Approval given by date of contract expiration. Appeals: Not applicable. Renewals: Subject to appropriations and owner's interest in renewing contract. ASSISTANCE CONSIDERATIONS: Formula and Matching Requirements: Not applicable. Length and Time Phasing of Assistance: One year. POST ASSISTANCE REQUIREMENTS: Reports: The owner must submit to HUD within 60 days after the end of each fiscal year of the project, financial statements for the project audited by an Independent Public Accountant and other statements as to project operation, financial conditions and occupancy. Audits: The owner must permit HUD to review and audit the management and maintenance of the project at any time to assure the owner is meeting its obligation to maintain the units and related facilities in decent, safe, and sanitary condition. Records: The owner must reexamine the income and composition of all families at least once each year and prepare and furnish other information required under the Section 8 contract. 352 FINANCIAL INFORMATION: Account Identification: 86-0319-0-1-604; 86-0164-0-1-604; 86- 0311-0-1-604; 86-0316-0-1-604.
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