HUD’s Financial Management Division (FMD) recently sent a letter to PHA executive directors describing the calculation and disbursement of renewal funding for February and March. The allocation of HAP renewal funds for calendar year (CY) 2015 has not yet been determined pending completion of Voucher Management System (VMS) data entry for CY 2014. February and March disbursements are based upon each PHA’s CY 2014 prorated renewal eligibility.
As explained in the letter:
- February and March disbursements were determined on the basis of PHA-reported HAP expenses for November 2014, the most recent month of validated VMS data.
- CY 2015 allocations will be calculated and communicated to PHAs before calculation of the obligation for April 2015.
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