(1) The housing coordinator shall monitor the activities of recipients of funds from the Economic Revitalization and Investment Fund and the Rural Housing Fund on a yearly basis to ensure compliance with the terms and conditions imposed on the recipient by the housing coordinator with the approval of the board. (2) (a) A housing sponsor that receives funds from the Economic Revitalization and Investment Fund shall provide the housing coordinator with an annual accounting of how the money the entity received from the Economic Revitalization and Investment Fund has been spent and evidence that the commitment described in Section 63N-24-310 has been met. (b) A housing sponsor that receives funds from the Rural Housing Fund shall provide the housing coordinator with an annual accounting of how the money the entity received from the Rural Housing Fund has been spent and evidence that the commitment described in Section
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