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Final op sub obligations, high performer list for cap fund calculation

On Monday HUD’s Office of Public and Indian Housing (PIH) posted a document explaining the final obligations under the public housing operating fund for calendar year (CY) 2014. The final proration factor for the year is 88.79 percent. Final obligation letters will be posted within the following seven days. PIH will also post an updated explanation providing the “final operating fund eligibility summary” of key formula components. You’ll find a link to the document on the calendar year (CY) 2014 subsidy processing page at the asset management Web site.

Last week, in preparation for calculating capital fund formula grants for federal fiscal year (FFY) 2015, HUD’s Office of Capital Improvements (OCI) posted an Excel spreadsheet listing PHAs that were designated high performers in FFY 2013 under the Public Housing Assessment System (PHAS). HUD is using the FFY 2013 PHAS designations to determine which PHAs will receive the high performer bonus for the 2015 formula calculation. As noted in the announcement, FFY 2013 corresponds to the following fiscal year end quarters: 12/31/2012, 3/31/2013, 6/30/2013 and 9/30/2013. PHAs are responsible for validating whether they are on the high performer list by reviewing the spreadsheet. Any errors must be reported to by October 31, 2014.

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