HCV program: Get ready for 2015
Last week HUD’s Office of Public and Indian Housing (PIH) sent out a letter to PHA executive directors to help them plan their 2015 budgets for the housing choice voucher (HCV) program. The letter provides important information and guidance about budgeting for next year. Below are just a few highlights:
- Calendar year (CY) 2015 voucher renewal funding will be based on housing assistance payment (HAP) expenses for CY 2014.
- January 22 is the deadline for reporting all CY 2014 leasing and housing assistance payments (HAP) expenses in the Voucher Management System (VMS).
- PHAs should review Notice PIH 2013-28, which provides guidance on the use of outside sources of funds for HAP expenses.
- HUD does not plan to offset excess funds this year, so PHAs will receive their full allocation.
- Administrative fees for January and February have been advanced based on the most recently validated eligibility at a proration of 74 percent.
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