Tip #15: Utilize HUD's tools.
The HCV manager should be aware of all leasing data related to subsidy size and dollar values, such as:
- The ratio between the number of families pulled from the waiting list and the number who will be determined eligible
- The ratio between families who are issued vouchers and families who actually lease units (success rate)
- The historical turnover rate
HUD's Voucher Issuance Program (VIP) is a helpful tool to determine the number of vouchers to issue. It's easy to use, and you can download an accompanying instruction manual which provides user guidance.
HUD also provides a two-year forecasting tool; they recently released version 2.2. The tool is designed to help PHAs project leasing, spending, and funding in their voucher programs. The revised user guidance (version 8.8, dated 1/8/13) that accompanies the tool lists the changes reflected in version 2.2:
- What was the entry cell for beginning year net restricted assets (NRA) is replaced with three cells:
- PHA-held NRA—beginning year
- HUD-held program reserves: These are budget authority funds (restricted to pay housing assistance payment (HAP) expenses) approved but undisbursed to the PHA in prior years.
- Combined HAP reserves: This is the sum of the NRA and the HUD-held program reserves. These are funds, whether held by the PHA or HUD, which are available to be used to pay HAP expenses.
- Some relabeling and editing of comment boxes has been done to be consistent with the new use of the concept of the HUD-held program reserves and the combined HAP reserves.
- The proration of set-aside funds has been removed. Users can enter in year 2 and 3 what they estimate they would receive.
Version 2.2 of the forecasting tool still includes the administrative fee tables for 2012, so it will probably be updated again after appropriations for this year are finalized.
In addition to these HUD tools, you'll find useful resources in the NMA HCV Executive Management Master Book and/or class, including:
- Financial analysis report for program administrators
- Leasing budget projection worksheet
- FSS monitoring report
- Monitoring repayment agreement spreadsheet
- Monitoring portability activity format
Next: Achieving high performance in the HCV program: Tip #16
While serving as executive director of a Minnesota housing authority, Nan McKay started one of the nation’s first Section 8 programs. The agency was subsequently honored with a HUD award as one of 13 outstanding Section 8 programs in the country.
Founder and president of Nan McKay and Associates, she has devoted the past two years to redesigning NMA’s HCV Executive Management course, as well as rewriting the HCV Executive Management Master Book with Bill Caltabiano. Follow the #executivemanagement tag to keep up with all related blog posts.
