Access Compliance Reports in OASYS

March 27, 2024

On March 18, FHLB Cincinnati rolled out a new process for accessing and submitting all compliance reports. The initial monitoring’s Owner’s/Member’s Certificate of Program Compliance reports and the long-term monitoring’s Certificate of Program Compliance reports have now joined the Periodic Progress Reports in OASYS. This new method is more efficient and allows all Affordable Housing Program compliance activities to be housed in one location. Compliance reports will no longer be delivered or accepted outside of OASYS.

Accessing Reports

For those already familiar with compliance in OASYS who have submitted Periodic Progress Reports, the process will be no different. Users will continue to automatically receive notifications letting them know there is a document that they need to respond to or review within in the OASYS system. For those who are new to OASYS, the process will require you to first register for OASYS. Emails requesting project contacts register for the system were sent out in early March to project owners and managers with projects within the 15-year retention period. If your organization has an active project being monitored by FHLB and you did not receive an email requesting registration, there a few possible reasons:

  1. You are already registered in OASYS.
  2. You are not listed as the owner and/or manger contact in the FHLB system. Only the owner and manager contacts in the FHLB internal system received requests to register and only those registered can access, complete, and submit compliance reports. Owner and management contacts are provided to FHLB during the disbursement process and may have been updated through previous compliance reports. Contact the compliance team at ahpmonitoring@fhlbcin.com to amend and/or check the contacts listed for your project.
  3. Your project is not a rental project and/or no longer subject to FHLB monitoring.

Completing Compliance Reports

For all compliance reports, an email will be sent to the owner and manager (will include member and sponsor for initial monitoring) notifying them that a compliance report is available for completion and the due date for that report. Managers or owners must then answer all questions on the compliance report and upload the FHLB occupancy report, if required, to complete their submission.

For initial monitoring, an occupancy report will be required. Projects in long-term monitoring will only need an occupancy report if an audit is due that year. This will be noted on top of the report in OASYS. FHLB required occupancy reports can be found on our website.

For projects requiring an in-house audit, the requested documents will also be uploaded in OASYS. An email will be forwarded to the project contacts requesting tenant documentation for select units. The email will state the documents that must be submitted and the date the information is due.

FHLB Review

FHLB will review the compliance reports and audit documents submitted. Any additional information needed will be requested by email, not in OASYS. At this time, you may only submit initially requested documentation via OASYS. Any supplemental information will be handled outside of OASYS.

FHLB has created a user guide for the initial and long-term processes for your convenience. The guides can be found on our website's Affordable Housing Program page. You will also be able to find the FHLB required occupancy reports and a recorded webinar on Periodic Progress Reports.

For questions regarding the new compliance process, please contact the Compliance and Outreach team at ahpmonitoring@fhlbcin.com.